<\/p>\n
Dog-themed crypto asset Dogecoin (DOGE<\/a>) is surging after Coinbase announced its plans to launch futures trading for the memecoin.<\/p>\n According to a filing by Coinbase earlier this month, the top US-based crypto exchange platform registered<\/a> with the Commodity Futures Trading Commission (CTFC) to offer DOGE derivatives starting on or after April 1st.<\/p>\n \u201cPursuant to Commodity Futures Trading Commission hereby submits for self-certification its initial listing of the Dogecoin futures contract to be offered for trading on the exchange on or after April 1st.\u201d<\/em><\/p>\n News of Coinbase\u2019s plan to offer DOGE futures sent the meme asset flying, as it went from a March 20th low of $0.129 to a peak of $0.155, a 20% increase. DOGE has since retraced and is trading for $0.152 at time of writing, an increase of about 15% during the last 24 hours.<\/p>\n According to Bloomberg analyst James Seyffart, the U.S. Securities and Exchange Commission (SEC) \u2013 which has jurisdiction over securities and not commodities \u2013 may object<\/a> to Coinbase\u2019s plan even though it would be hard to make the case that DOGE futures would count as securities.<\/p>\n \u201cThis is interesting\u2026 wonder if the SEC objects to these being classified \u2018commodities futures\u2019 vs \u2018securities futures\u2019. These all forked from Bitcoin so \u2018these are securities\u2019 claims would be hard to make after spot Bitcoin ETF approvals. Might be why Coinbase chose them.\u201d<\/em><\/p>\n In the filing, Coinbase says that Dogecoin\u2019s inflationary mechanism makes it ideal to act as the currency of the internet because it promotes spending rather than holding.<\/p>\n \u201cUnlike Bitcoin or Litecoin, Dogecoin does not have a cap on the total supply of coins. Over 140 billion Dogecoins are in circulation, with new blocks added to the Dogecoin blockchain every minute, and a reward of 10,000 DOGE per block. <\/em><\/p>\n This design leads to an inflationary supply model, which contrasts with the deflationary model of Bitcoin and many other cryptocurrencies. The inflationary nature of Dogecoin is intended to encourage spending and use in tipping on social media and online forums, rather than holding as a digital investment.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Dog-themed crypto asset Dogecoin (DOGE) is surging after Coinbase announced its plans to launch futures trading for the memecoin. According to a filing by Coinbase earlier this month, the top US-based crypto exchange platform registered with the Commodity Futures Trading Commission (CTFC) to offer DOGE derivatives starting on or after April 1st. \u201cPursuant to Commodity […]<\/p>\n","protected":false},"author":2,"featured_media":180517,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-269476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/269476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=269476"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/269476\/revisions"}],"predecessor-version":[{"id":269478,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/269476\/revisions\/269478"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/180517"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=269476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=269476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=269476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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