As Coinbase unveils its plans to introduce futures trading for Dogecoin (DOGE), Litecoin (LTC), and Bitcoin Cash (BCH), XRP lawyer Bill Morgan voices disappointment over the lack of support for Ripple’s native cryptocurrency, XRP. Notably, the move has sparked discussions within the crypto community, with questions raised about Coinbase’s choice to prioritize Dogecoin over XRP.

XRP Lawyer Shows Dismay With Coinbase’s DOGE Listing Decision

Coinbase has recently filed with the CFTC to list Dogecoin (DOGE), and other crypto futures on its platform. Notably, the decision of the crypto exchange to prioritize Dogecoin futures listing has stirred controversy, particularly among XRP enthusiasts.

Meanwhile, XRP lawyer Bill Morgan expressed dismay, highlighting Coinbase’s historical lack of support for XRP. Besides, this move from the leading crypto exchange comes despite XRP’s popularity and established presence within the crypto market, leaving many questioning the exchange’s rationale behind its selection of assets for futures trading.

For context, earlier this month Coinbase Derivatives LLC’s filing with the Commodity Futures Trading Commission (CFTC) outlined plans to launch cash-settled futures contracts for Dogecoin, Litecoin, and Bitcoin Cash. Notably, despite the filing’s submission on March 7, it flew under the radar until recently, prompting discussions regarding Coinbase’s strategic decisions and its implications for the broader crypto landscape.

Also Read: Ex-CFTC Commissioner Calls SEC’s Approach On Ethereum “Illegal”

Community Reacts Over Prioritization of Dogecoin

FOX journalist Eleanor Terrett has sparked the discussion over Coinbase’s prioritization over other crypto assets instead of XRP. For context, reacting to Coinbase’s filing development, she commented on the absence of XRP futures, further fuelling the debate surrounding Coinbase’s decision.

Notably, many in the crypto community echoed Terrett’s sentiments, questioning why Coinbase opted for Dogecoin futures over XRP, given the latter’s established market presence and significant user base. Notably, XRP holds the 6th spot in the crypto market by top market capitalization, while Dogecoin’s ranking is 9th.

However, it’s worth noting that Dogecoin also has immense popularity in the crypto market, topping the list of meme coins. In addition, the continued backing from prominent figures like Elon Musk has also helped DOGE to gain popularity in the digital asset space.

Meanwhile, Coinbase’s move to expand its futures offerings signals growing interest in altcoins, but at the same time, it also raises questions about the platform’s support for various cryptocurrencies. As discussions continue, stakeholders await further clarity on Coinbase’s strategy and its implications for the future of crypto trading.

In other words, the prioritization of assets for futures trading underscores the complexities of navigating the cryptocurrency market and satisfying diverse investor preferences amid the evolving landscape.

Also Read: FTX CEO Refutes Claims of Zero Harm by Sam Bankman-Fried

The post XRP Lawyer Reacts As Coinbase Announces Dogecoin (DOGE) Futures Listing appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am