New SHIB and Pepe Pairs Added by Major US Exchange

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As a seasoned researcher with over a decade of experience in the ever-evolving world of cryptocurrency, I find it fascinating to witness the continuous growth and expansion of established platforms like Kraken. The recent listing of EUR margin pairs for popular meme coins such as Shiba Inu (SHIB) and Pepe (PEPE), alongside Sei (SEI) and Near Protocol (NEAR), is a testament to the increasing mainstream adoption of these digital assets.

Kraken, a digital currency platform based in San Francisco, has unveiled plans to offer additional Euro margin trading options for Shiba Inu (SHIB) and Pepe (PEPE), the top meme-inspired cryptocurrencies.

In addition to the previously mentioned meme-based cryptocurrencies, Kraken has also introduced Margin trading pairs with Euros for Sei (SEI) and Near Protocol (NEAR).

Kraken’s users can amplify their trades with up to three times the standard leverage. Essentially, this empowers them to venture into transactions larger than their account balance. For example, a 5% rise in Shiba Inu (SHIB) price would result in a 15% profit for a long position leveraged at 3x. But remember, margin trading involves significant risk and is not suitable for novice traders due to the possibility of substantial losses.

For the SHIB/EUR, the limit for both long and short positions is set at 2 billion tokens. For the PEPE meme coin, for comparison, the limits are set at 3.5 billion tokens. 

According to U.Today’s report, the popular meme cryptocurrency Shiba Inu (SHIB) was finally added to Kraken’s listings in November 2021, after a strong push from its dedicated community.

Back in 2015, one of the earliest crypto exchange platforms, Kraken, introduced margin trading. At first, the Bitcoin/EUR pair was the only option for margin trading on their platform.

Over the past years, Kraken has been dramatically expanding the list of cryptocurrencies that are available for margin trading. In June, the exchange introduced margin trading for eight stablecoin pairs. 

As a seasoned crypto trader with over a decade of experience under my belt, I was thrilled to learn that earlier this year, one of the top exchanges started offering margin trading for USD pairs with popular meme coins like SHIB and PEPE. This move caught my attention because it signaled a shift in the cryptocurrency market towards more mainstream adoption and acceptance.

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2024-08-20 19:07