Major Exchange Adds New SHIB and PEPE Pairs

Kraken Expands Margin Trading with New EUR Pairs for SHIB, PEPE, SEI, and NEAR

San Francisco-based cryptocurrency exchange Kraken has announced the addition of four new EUR margin pairs: Shiba Inu (SHIB), Pepe (PEPE), Sei (SEI), and Near Protocol (NEAR). This expansion enhances the exchange's margin trading offerings, enabling users to trade these pairs with up to 3x leverage.

Expanded Margin Trading Options

Kraken's introduction of EUR margin pairs for SHIB and PEPE marks a significant development for the meme cryptocurrency community. The exchange had listed SHIB in November 2021, responding to overwhelming community demand.

The new margin pairs provide traders with increased leverage for these cryptocurrencies, potentially amplifying their gains. However, margin trading involves inherent risks, and inexperienced traders should proceed with caution to avoid potential losses.

Trading Limits and Leverage

The limits for long and short positions vary across the newly listed pairs. For SHIB/EUR, the limit is set at 2 billion tokens, while PEPE/EUR has a limit of 3.5 billion tokens. Traders can access up to 3x leverage for these pairs, allowing them to open positions that exceed their balance. For instance, a 5% gain in the SHIB price would translate to a 15% gain in a 3x long position.

Kraken's Margin Trading History

As one of the longest-running cryptocurrency exchanges, Kraken introduced margin trading in 2015 with the Bitcoin/EUR pair. Since then, the exchange has expanded its margin trading offerings substantially. In June, Kraken offered margin trading for eight stablecoin pairs, and earlier this year, the exchange added USD pairs for SHIB, PEPE, and other cryptocurrencies.

Risks and Precautions

While margin trading offers potential benefits, it also carries significant risks. Traders should be aware of the possibility of losses and take appropriate measures to manage their risk exposure. Inexperienced traders should refrain from margin trading until they have gained sufficient knowledge and experience.

Kraken's introduction of new EUR margin pairs for SHIB, PEPE, and other cryptocurrencies represents a significant step forward for the exchange and the cryptocurrency community. With increased leverage and expanded trading options, traders can enhance their gains. However, it is crucial to approach margin trading with caution and recognize the associated risks.

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial advice. The views expressed herein may reflect the author's personal opinions and do not necessarily represent the views of Kraken. Readers are advised to conduct thorough research before making any investment decisions. All actions taken by readers are at their own risk, and Kraken assumes no responsibility for any financial losses incurred.