Kraken Expands EUR Margin Trading with SHIB/EUR Pair, Boosting Options for European Users

• Kraken extends its EUR margin trading offerings, now including SHIB/EUR.
• This addition represents a significant expansion of accessible trading pairs for European cryptocurrency traders.
• “Kraken continues to lead with its comprehensive range of margin trading options,” noted in a recent company statement.

Kraken adds SHIB/EUR margin trading pair, expanding its footprint for European cryptocurrency traders, enabling more leveraged trading options with Euro-based pairs.

Kraken Expands EUR Margin Trading Options with SHIB/EUR

Kraken, a prominent US-based cryptocurrency exchange, has extended its margin trading options by adding several new EUR-based pairs, including SHIB/EUR, NEAR/EUR, SEI/EUR, and PEPE/EUR. This strategic addition is particularly notable for European traders who transact primarily in euros, providing them with a broader range of trading possibilities. The euro zone encompasses major economies such as Germany, France, and Italy, making these new pairs a valuable addition for users in these regions.

Understanding Margin Trading and Its Implications

Margin trading on Kraken involves borrowing funds to trade larger positions than the trader’s actual capital. For instance, the newly added SHIB/EUR margin pair offers up to 3x leverage, enabling traders to amplify their potential gains. However, it is crucial to acknowledge the heightened risk of liquidation associated with leveraged trading. Traders must provide collateral, which can include various cryptocurrencies, to utilize this feature.

Shiba Inu’s Journey and Community Control Plans

Shiba Inu (SHIB), a meme coin that originated in 2020 by an anonymous entity known as “Ryoshi,” has been positioning itself towards decentralized governance. The project was famously launched to explore what could be achieved if a cryptocurrency was entirely community-run. By the end of 2024, SHIB’s development team aims to hand over complete control to its community, reflecting a strong commitment to its founding principles.

The Growing Acceptance of Shiba Inu

Several key cryptocurrency exchanges have embraced Shiba Inu, enhancing its accessibility and liquidity. Kraken, which listed SHIB in November 2021, is joined by heavyweights such as Binance, Coinbase, and Crypto.com in supporting the trading of this meme coin. Additionally, financial technology company Robinhood has recently permitted SHIB trading for New York residents. Earlier in the year, Coinbase introduced 1000SHIB-PERP perpetual futures contracts, a derivative allowing traders to speculate on SHIB’s price movements without actually holding the cryptocurrency. These contracts feature high leverage and no expiry date, requiring ongoing margin maintenance.

Conclusion

Kraken’s new EUR margin pairs, particularly SHIB/EUR, demonstrate the exchange’s commitment to catering to the European market with nuanced and diverse trading options. As SHIB continues to gain widespread acceptance and moves towards a community-driven future, these developments symbolize both the growing maturity and dynamic nature of the cryptocurrency ecosystem. European traders now have more tools at their disposal to navigate this evolving landscape with enhanced flexibility and potential for growth.