Kraken launches new Shiba Inu margin trading pair

Kraken expands trading, introduces new margin trading pairs for Shiba Inu and other cryptocurrencies, offers 3x leverage and fee adjustments to enhance trading options.
Kraken recently expanded its margin trading offerings by introducing a number of new cryptocurrency trading pairs, notably including Shiba Inu (SHIB). In addition to SHIB, new margin trading pairs include ICP (Internet Computer), PEPE and WIF (Dogwifhat), each offering tailored leverage and position limits.
Specifically, the SHIBUSD trading pair provides traders with 3x leverage, allowing them to trade large trading positions of up to 1,500,000,000 (1.5 billion) SHIB. However, it’s worth mentioning that the recent additions are only available on Kraken Pro, Kraken’s premium trading platform.
Margin trading allows traders to use borrowed funds to increase returns. However, this also comes with increased risks and costs, including fees for opening, holding and closing positions. Traders must hold at least one collateral currency and adhere to specific platform and regulatory compliance to engage in margin trading.
Latest Developments in Shiba Inu Trading
In addition to expanding margin trading options, Kraken is also actively promoting Shiba Inu’s liquidity and accessibility. In 2023, Kraken launched SHIB/USD perpetual futures, offering up to 10x leverage to its regular users, a significant improvement for Shiba Inu traders looking to take advantage of market volatility through futures contracts.
During a 100-day promotional period last year, the exchange offered 0% maker fees and just 0.01% taker fees for SHIB and PEPE perpetual futures trading. This fee adjustment is intended to attract more traders by making frequent and high-volume trading strategies more cost-effective.
The latest development comes as the Shiba Inu continues to gain widespread support across multiple exchanges. Recently, Binance Japan introduced Japanese Yen-denominated Shiba Inu trading pairs. Leading exchange Crypto.com also launched new SHIB trading pairs in January.
Traders need to consider the geographic and regulatory restrictions that apply to Kraken’s services. These restrictions may affect the availability of specific trading options depending on the trader’s location, which demonstrates the importance of complying with local laws and exchange policies.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The opinions expressed in this article may contain the personal opinions of the author and do not necessarily reflect the views of The Crypto Basic. Readers are encouraged to perform adequate research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.