NOIDA (CoinChapter.com)—Shiba Inu’s SHIB token has experienced notable price declines recently, trading more than 37% from June’s high of $0.000026 to reach a daily low near $0.0000169 on June 29. Despite the recent downsides, Coinbase has announced plans to list Shiba Inu futures contracts.

The move comes as part of Coinbase’s broader strategy to enhance its digital asset offerings and cater to the growing demand for diverse trading options. SHIB prices have been in a downtrend since June 6, with the token trying to crab since June 23 before dropping again.

Coinbase Expands Futures Trading with Shiba Inu

Coinbase has announced plans to list Shiba Inu for futures contracts, a news that could attract buyers towards SHIB. The exchange submitted a filing to the Commodity Futures Trading Commission (CFTC) to commence trading soon.

The decision makes Coinbase the first US exchange to offer margined futures contracts for Shiba Inu.

On June 28, Coinbase revealed a new list of futures products for its crypto derivatives market, including Shiba Inu and other popular cryptocurrencies such as Avalanche (AVAX), Chainlink (LINK), Polkadot (DOT), and Stellar (XLM). Trading for these futures products is set to begin on July 15.

The CFTC filing provides detailed terms of these futures contracts, addressing Shiba Inu’s market volatility, regulatory compliance, and other certification details.

Moreover, Coinbase stated that adding Shiba Inu to its futures contracts would help participants manage risks, speculate on price movements, and engage more deeply with the crypto economy with less initial capital.

The inclusion of Shiba Inu in Coinbase’s futures contracts represents a notable development. The move could help increase the acceptance of meme coins in mainstream financial products, leading to greater adoption and stability over time.

SHIB Price Moving Inside Bullish Setup

Despite the announcement, Shiba Inu’s price has not shown significant improvement, currently trading below $0.000018. The memecoin has seen a 1.8% drop in the past 24 hours, reflecting the overall bearish sentiment.

However, SHIB price has formed a bullish setup called the ‘falling wedge,‘ which could benefit from the Coinbase news.

A falling wedge pattern features a pair of converging trend lines connecting lower highs and lower lows, forming a narrowing shape that slopes downward.

The pattern typically suggests that an asset’s price, while consolidating in a downtrend, is losing bearish momentum and preparing for a potential reversal to the upside. Typically, a breakout occurs in the direction of the overall trend, which, for a falling wedge, is upward.

To estimate the price target of a falling wedge pattern, traders measure the widest part of the wedge at the beginning of the formation. They then project this distance upward from the breakout point to set a potential target.

An accompanying increase in trading volume can further confirm the reliability of the breakout. Higher volume during the breakout suggests stronger market conviction, supporting the likelihood of a successful price reversal.

According to the rules of technical analysis, the Shiba Inu token price could rally nearly 101% to reach the pattern’s theoretical price target near $0.0000342.

Out of the top cryptocurrencies set to launch soon, only a few, like ETFSwap (ETFS), have the capability of 33x gain within 30 days. As much as tokens like Rollblock (RBLK) and BlockDAG (BDAG) are also gearing up to launch, experts say they are not the ideal option for a high ROI of up to 30x. 

ETFSwap (ETFS) is poised to lead the likes of Rollblock (RBLK) and BlockDAG (BDAG) as the biggest crypto platform in 2024. It is spearheading the bridging of real-world ETFs and blockchain technology at a time when the ETF market is pulling trillions of dollars in investment funds. No wonder experts predict it will surge by 33% in its first month of launch. 

ETFSwap (ETFS) Takes The Crypto Market By Storm

ETFSwap (ETFS) is changing the narrative for how ETFs are traded. The platform is designed to allow users to trade real-world ETFs using cryptocurrency. This means a user can swap cryptocurrencies with a publicly listed ETF and also get access to perpetual trading options with up to 50x leverage. The ETFSwap (ETFS) platform is also different from the traditional platforms as it gives users full control of their assets alongside 24/7 trading access. It charges no management fees and has a user-friendly interface that makes transactions seamless. Secondly, the registration process is quick; over 10,000 users have completed their registration in record time, and no KYC information is required.

The novelty and features of the ETFSwap (ETFS) platform have influenced the worth of its native token, ETFS. The native token, known as ETFS, has performed well since the presale started. Over 290 million tokens have been sold, and over $2 million has been raised. Currently selling at $0.01831 per token, experts believe it will make more than a 33x run in its first month of launch. 

The expected success is attributed to the platform features, token utility, and incentives. The trading discount it offers is a major reason users purchase it. Users say access to tools such as AI-powered ETF Tracker and Screener are reasons for purchasing it. The token also gives voting rights that allow investors a say in the development of the ETFSwap (ETFS) ecosystem. 

Earning opportunities are other benefits of the ETFSwap (ETFS) token. The token enables investors to earn up to 87% APR yield and 36% from the staking pool, which is linked directly to the ETFSwap (ETFS) liquidity. There are also monthly airdrop rewards for token holders to boost their investments. Added to all of these benefits, experts believe the demand for ETFS will grow due to the upcoming Solana and Ripple ETFs, as hinted by the Ripple (XRP) CEO. Hence, ETFS might enjoy a 108x run once listed on exchanges.

ETFSwap (ETFS) no doubt offers more value than Rollblock (RBLK) and BlockDAG (BDAG). In fact, being in the ETF industry gives ETFSwap (ETFS) an additional edge. With close to 70% of the entire token allocation for presale already sold, now is the time to invest in the ETFSwap (ETFS) token, which is surprisingly still selling at $0.01831.

For more information about the ETFS Presale:

Visit ETFSwap Presale
Join The ETFSwap Community

NOIDA (CoinChapter.com)— The Binance SEC lawsuit took a bad turn for the exchange US authorities continue their legal actions. Recently, the SEC expanded its litigation efforts against Binance and its founder, Changpeng Zhao (CZ), adding to the growing list of regulatory actions worldwide.

This follows news from Washington about increased regulatory pressures on major crypto exchanges.

Judicial Ruling: Implications for Binance and CZ

Judge Amy Berman Jackson’s recent ruling in the SEC v. Binance case adds significant legal challenges for Binance.

The court decided that the bulk of the Securities and Exchange Commission’s allegations, which include offering and selling unregistered securities, operating without proper registrations, and engaging in fraudulent practices, will proceed.

The allegations in the Binance SEC lawsuit highlight the severity of the regulatory pressures facing Binance and CZ.

The SEC has accused Binance and its affiliates of offering crypto assets such as BNB, BUSD, and various investment programs without proper registration, violating federal securities laws.

Moreover, the ruling highlights operational concerns, noting Binance.com and Binance.US failed to segregate customers’ assets, raising questions about asset management and security. The implications are significant for CZ.

Additionally, Zhao’s legal troubles could harm his reputation and influence in the crypto community. Furthermore, the court’s decision in the Binance SEC lawsuit suggests that CZ could face prolonged legal scrutiny, potentially impacting his role and future within the industry.

Operationally, Binance might need to undergo substantial changes to comply with regulatory requirements. This could involve registering as an exchange, broker-dealer or clearing agency, and segregating assets stringently.

These changes would increase operational costs and place Binance under closer regulatory surveillance.

BNB Price Celebrates Minor Win

BNB bulls seemed to be celebrating one aspect of the judgment in the Binance SEC lawsuit. In a partially favorable ruling for Binance, the court dismissed the SEC’s charges related to secondary market BNB sales and Simple Earn.

Moreover, the bulls seem to be defending multi-month trendline support, with BNB price rallying just 1% to reach a daily high near $573.

If BNB price succumbs to bearish pressure, the Binance token price could drop to the support level near $538. Breaching immediate support might force the BNB price to drop to the support level near $506 before recovery.

On the other hand, a recovery rally from here, following the Binance SEC lawsuit news, could see BNB price rise to the 20-day (red) and 50-day (purple) EMA resistance confluence near $596. Moreover, flipping the immediate resistance could bring BNB price rise to the resistance near $638.

The relative strength index for BNB remained neutral, with a score of 40.84 on the daily charts.