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Shiba Inu (SHIB) Futures Listed on This Canadian Crypto Exchange: Details

Thu, 04/20/2023 - 11:19
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Tomiwabold Olajide
New listing might provide increased exposure to Shiba Inu (SHIB)
Shiba Inu (SHIB) Futures Listed on This Canadian Crypto Exchange: Details
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Canadian crypto exchange Biconomy has expanded its support for the Shiba Inu ecosystem. According to a recent announcement, Biconomy Futures has listed Shiba Inu's SHIB token. A blog post stated that SHIB/USDT perpetual futures trading with a fifty-fold margin will begin on the platform on April 19, 2023.

Futures are a type of derivative trading product that allows investors to hedge against volatile markets and ensure they can purchase or sell a particular cryptocurrency at a set price in the future.

The new listing is expected to provide increased exposure to Shiba Inu, as investors can indirectly gain exposure and potentially profit from its price movements.

It should be recalled that, in the past year, Biconomy added support for Shiba Inu (SHIB) and Shiba Inu governance ecosystem token BONE Shiba Swap (BONE).

At the time of writing, SHIB was marginally up in the last 24 hours at $0.00001093.

According to SHIB burn Twitter, in the past 24 hours, a total of 8,000,000 SHIB tokens have been burned, and one transaction has been made.

Shiba Inu exposure increases

Shiba Inu's exposure seems to be increasing across the board as a result of different partnerships. Crypto payment processor BitPay has announced a new partnership with Ramp Network, allowing Shiba Inu and other cryptocurrencies supported by BitPay to be bought widely.

Fintech business CoinGate, based in Lithuania, has joined forces with leading cryptocurrency exchange Binance.

According to a recent release, the collaboration would enable Binance Pay users to make payments across CoinGate-powered merchants using supported cryptocurrencies, which include Shiba Inu.

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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.