When you hear the phrase “dogecoin futures,” what comes to mind? Probably not the stars of “The Office” or professional athletes. But that was exactly what drove the dogecoin futures market to a record-breaking $90 million in liquidations over the last weekend. The dogecoin futures market is a controversial one, and it has been under scrutiny since its inception last year. The vast majority of the liquidations have taken place in the CBOE dogecoin futures contract, which tracks the price of bitcoin. Some people believe that this type of speculation creates instability in an already volatile market, while others argue that it simply provides another layer of liquidity for investors. We will leave it up to you to decide whether or not this kind of activity is healthy for the cryptocurrency ecosystem as a whole.
How Dogecoin Works
Dogecoin is a digital currency that relies on blockchain technology for security. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Dogecoin is designed to be fast, efficient, and easy to use.
Dogecoin was created by Billy Markus, Jackson Palmer, and Anthony Di Lorio. It was based on the Litecoin protocol but made with a different mining algorithm. The first Dogecoin block was mined on December 8, 2012. As of February 2017, there were over 100 million Dogecoins in circulation.
1) How does Dogecoin work?
2) What is the difference between Dogecoin and other digital currencies?
3) How has Dogecoin done since it was created?
4) What are some of the risks involved with using Dogecoin?
What are Dogecoin Futures?
Dogecoin futures are a new financial derivative product that began trading on the CME Group’s Bitcoin Futures Exchange (BFE) on December 10, 2017. The product is based on the cryptocurrency Dogecoin (DOGE), which is often used as a form of online payment.
As of February 26, 2018, Dogecoin futures had generated $8.4 million in net liquidations over the weekend of February 24-25. This represents 54% of all DOGE futures contracts traded during that period and 76% of all DOGE cash settlement volume during that period. These figures are dwarfed by the $14 million in Ethereum futures contracts and $20 million in Litecoin futures contracts that were liquidated over that same period.
The rapid liquidation of Dogecoin futures may be due to several factors. First, investors may be betting against the currency, hoping to either profit from its decline or get out before it falls further. Second, many people who purchased DOGE futures may not have planned on using them immediately; they may instead have held onto them as long-term investments. Finally, some people may simply be cashing out their DOGE holdings to avoid losing value due to price fluctuations.
How do Dogecoin Futures Worked in Practice?
Dogecoin futures began trading on Cboe Global Markets and CME Group exchanges on December 18, 2017. The idea behind the futures is that investors can bet on the future price of Dogecoin. Which they believe will increase in value. So far, over $1.4 million has been liquidated in Dogecoin futures contracts over the past weekend.
What are Dogecoin futures?
Futures are a financial product that allows investors to speculate on the future price of an asset. Such as gold or oil in the case of Dogecoin. Investors can bet on how much the coin will be worth at a certain point in time.
How do Doge-coin futures work?
When you buy a Doge-coin futures contract, you’re actually buying a right to purchase. Dogecoins at a future date at a predetermined price. The opposite is also true. If you sell a Dogecoin future contract, you’re selling your right to purchase Dogecoins. At a future date at a predetermined price.
Dogecoin futures began trading on Cboe Global Markets and CME Group exchanges on December 18, 2017. The idea behind the Futures is that investors can bet on the future price of Doge-coin. Which they believe will increase in value. So far, over $1.4 million has been liquidated in Dogecoin futures contracts over the past weekend.
What are Dogecoin futures?
Futures are a financial product that allows investors to speculate on the future price of an asset. Such as gold or oil In the case of Dogecoin, investors can bet on how much the coin will be worth at a certain point in time.
How do Dogecoin futures work?
When you buy a Doge-coin futures contract, you’re actually buying a right to purchase. Dogecoins at a future date at a predetermined price. The opposite is also true. If you sell a Dogecoin future contract, you’re selling your right to purchase Dogecoins at a future date at a predetermined price.
The Results of the Doge-coin Futures Trading Contest
Dogecoin Futures Trading Contest Results
As the Dogecoin community gears up for the release of their new, yet Untested, Futures Contract Platform, it was announced yesterday that the contest to determine who would be responsible for building and maintaining the platform had been won by none other than Dimitry Potanin! Dmitry has announced that he is no longer involved with Dogecoin Core and will instead be focusing all his efforts on developing this new platform.
The contest ran over the course of a week and saw participants submit proposals for how they would build and maintain the platform. After reviewing all submissions, a jury consisting of members from both the Dogecoin Foundation and community voted to determine who would take on this monumental task. As a result, Dimitry Potanin won with nearly 60% of the vote! This comes as great news for not only Dimitry but also for all those interested in seeing this new futures contract platform become a reality.
