Kraken Expands Margin Trading with New SHIB/EUR Pair

Kraken expands margin trading on its platform by introducing new margin pairs, including SHIB/EUR, NEAR/EUR, SEI/EUR, and PEPE/EUR. This strategic move is particularly beneficial for European users, offering them a broader range of trading options using the euro (EUR), the official currency of the Eurozone.

The Eurozone, comprising 20 countries such as Germany, France, Spain, and Italy, represents some of the world’s strongest economies.

Kraken Expands Margin Trading Pairs

Margin trading on Kraken allows users to leverage loaned funds to amplify their trades, though this comes with its own set of risks. To engage in margin trading, users must provide collateral, which can be in the form of cryptocurrencies. While this method can lead to higher returns, it also increases the risk of liquidation if the market moves unfavorably.

The new margin pairs introduced by Kraken each have their own specifications. For example, the SHIB/EUR pair offers up to 3x leverage, with a $2 billion limit on both long and short positions, making it a notable option for traders.

📣 New EUR margin pairs available for:

✅ $PEPE
✅ $NEAR
✅ $SEI
✅ $SHIB

Gain exposure to these tokens and 120+ margin pairs on Kraken

*Geographic restrictions may apply

👇 Trade now https://t.co/pb84SllQIO pic.twitter.com/fK3dPFgivY

— Kraken Pro (@krakenpro) August 20, 2024

In its announcement, Kraken also highlighted the origin and future plans of SHIB. The meme coin was launched in 2020 by an anonymous developer known as “Ryoshi.” Looking ahead, the team behind SHIB aims to fully transition control of the project to the community by the end of 2024, furthering its mission toward decentralization.

Who Else Embraced SHIB?

Kraken is not alone in offering SHIB trading options. The meme coin has garnered significant attention and support from other major cryptocurrency exchanges. Kraken first listed SHIB in November 2021, joining the ranks of industry giants like Binance, Coinbase, and Crypto.com.Additionally, Robinhood made SHIB trading available to New York state residents earlier this year. Coinbase further expanded SHIB trading options by introducing 1000SHIB-PERP perpetual futures contracts, a derivative product that allows traders to speculate on SHIB’s future price movements without actually owning the coin.

These perpetual contracts come with unique features, such as high leverage and no expiration date, providing traders with both opportunities and challenges.

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