$257.4 million in SHIB futures against $77.5 million spot: EU leverage stops at 2:1

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.SHIB futures turned over $257.4 million in 24 hours against $77.5 million on the spot market. That is a factor of 3.3, and for leverage Germany applies a hard ceiling. Trading in Shiba Inu is currently taking place for the larger part not on the spot market but on the futures market. In the 24 hours to Thursday evening, around $257.4 million changed hands in SHIB futures contracts, against $77.5 million on the spot market. That puts the factor at 3.3. Anyone trying to understand how the SHIB price moves is looking in the wrong place by watching only purchases and sales of the tokens themselves. These figures are our own counts from CoinGecko market data, taken on Thursday evening. SHIB cost $0.00000510 at that point, or €0.00000455. Over 24 hours the price moved by 0.05 percent, so it stood practically still. Within the day, however, the high and the low were 4.89 percent apart: $0.00000511 at the top, $0.00000486 at the bottom. That range is the most important number in this ar...