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Dogecoin Futures to List on Top U.S. Exchange: Details

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Sat, 06/18/2022 - 18:45
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Tomiwabold Olajide
Several exchanges previously launched support for Dogecoin futures
Dogecoin Futures to List on Top U.S. Exchange: Details
Cover image via stock.adobe.com

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San Francisco-based crypto exchange Kraken is expanding its support for Dogecoin as it gears up to list Dogecoin's future contracts.

The futures contract derives its value from the underlying cryptocurrency, Dogecoin in this case, and allows one to gain exposure to the cryptocurrency without actual ownership.

Trading is set to begin on Monday, June 20. Kraken is also set to offer futures contracts for Tron's TRX and Fantom's FTM. Several exchanges have previously launched support for Dogecoin futures.

In July 2020, Binance announced the launch of perpetual DOGE/USDT contracts on its derivatives platform, Binance Futures. OKEx also added support for DOGE trading on its spot margin trading, listing a perpetual DOGE/USDT pair. In the same month, Bitfinex announced the listing of MegaDogecoin (MDOGE), which is equal to one million "normal" DOGE.

DOGE co-founder expresses his desire for Dogecoin amid recent events

Dogecoin creator Billy Markus, or "Shibetoshi Nakamoto," has expressed his desire for Dogecoin amid recent events on the market. He wants Dogecoin to have a reason to exist; "something beyond pump and dump," he says. He also wants the community to understand what crypto is and what the crypto market is. To this end, Tesla CEO Elon Musk replied, "more currency-like."

The Dogecoin creator also says it would be cool if people kept improving on Dogecoin and adding utility, saying, "most of the complaints and attacks, imo, are just people that don't get crypto or the crypto market."

To this, Elon Musk also responded in support, saying, "Tesla and SpaceX merch, maybe more down the road."

As previously reported by U.Today, Elon Musk is facing a $258 billion lawsuit for promoting Dogecoin. However, the centibillionaire seems unwavering in his support for Dogecoin, as seen in his recent reply to Billy Markus's tweets.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.