Shiba Inu (SHIB) traders have something to cheer for in the coming days as leading cryptocurrency exchange Coinbase is set for some major rollouts. In a post announcing the development, Coinbase Markets listed Shiba Inu first among 11 other crypto assets that will benefit from its U.S. perpetual-style futures.
As per the announcement, December might shape up to be a big month for altcoin investors. Notably, December 5th and 12th are significant dates that market participants need to keep an eye on.
New Perpetual-Style Futures Add Momentum for Shiba Inu
Shiba Inu will benefit from Coinbase Derivatives as starting December 5th, all altcoin monthly futures will go live. Investors will be able to trade 24/7 on the following assets: Shiba Inu, Avalanche, Bitcoin Cash, Cardano, and Chainlink. Others include Dogecoin, Hedera, Litecoin, Polkadot, Sui, and Stellar.
The implication of this is that traders can either open or close positions any time of the day, even on weekends.
Additionally, seven days after this rollout, Coinbase will launch new perpetual-style futures for U.S. users. This will mark a shift from the previous experiences where users had difficulty accessing the service because of regulatory challenges.
Expanded Derivatives Access Could Boost SHIB Liquidity
Worth mentioning is that these services will not be directly on the main Coinbase app. This implies that traders will have to access it through Futures Commission Merchant (FCM) partners. Shiba Inu traders will have to use approved brokers on Coinbase’s derivatives website.
As long as they use these partners, both Shiba Inu’s retail and institutional traders can gain access to it. This development adds to the bullish developments surrounding SHIB. Last week, Japan gave a nod to Shiba Inu, placing it in the same category as Bitcoin and Ethereum as it is now eligible for a 20% flat tax.
Gemini exchange has also announced the launch of its own new perpetual contracts, which also includes SHIB. This means that Gemini’s customers in Europe now have access to take long or short positions with no monthly expiration date.
SHIB Price Outlook Strengthens
These increased utilities could significantly impact price outlook and push Shiba Inu up in terms of value. As of this writing, Shiba Inu is changing hands at $0.000007948, which represents a 3.44% increase in the last 24 hours.
However, investors are still cautious with trading volume down by 36.01% at $115.59 million. Activities might pick up if the price remains on an upward trajectory.