Crypto.com, one of the leading cryptocurrency platforms in the US, has announced a new trading feature for Shiba Inu (SHIB), the popular meme coin that has gained a loyal fan base. The feature, called strike options, allows users to speculate on SHIB's price movement within a 20-minute window with a minimum investment of US$10.
Strike options are a type of crypto derivatives product that is regulated by the Commodity Futures Trading Commission (CFTC). They offer a simple and straightforward way to trade SHIB and other cryptocurrencies, such as Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Dogecoin (DOGE), Litecoin (LTC), Avalanche (AVAX), Polkadot (DOT), Chainlink (LINK), and Stellar (XLM).
To trade strike options, users need to make a yes/no prediction about whether the price of the underlying asset will be higher than the strike price at the time of expiry. The strike price is a predetermined level that is set by Crypto.com based on the market conditions. Users can choose from three contract duration: 20 minutes, two hours, and intraday.
If the user's prediction is correct, they will receive a fixed payout of US$100 per contract. If the prediction is wrong, they will lose their initial investment. Users can also close their positions before the expiry time to lock in profits or cut losses.
Crypto.com claims that strike options are a simple and accessible way to trade crypto, especially for beginners and casual traders. They also provide an opportunity to potentially profit from SHIB's price movements, which are often influenced by social media hype and community sentiment.
SHIB is an experiment in decentralized spontaneous community building that was created under the SHIBA INU ecosystem. It is one of the most popular meme coins, along with DOGE, that has attracted millions of fans and investors. SHIB is also the first cryptocurrency token to be listed and incentivized on ShibaSwap, SHIBA INU's decentralized exchange.
SHIB holders have been eagerly awaiting more integrations and developments for the SHIBA INU ecosystem, such as Shibarium, its own Layer-2 blockchain. Crypto.com's launch of strike options for SHIB is another sign of the growing demand and recognition for the meme coin in the crypto space.
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