Leading Exchange Platform Introduces New Trading Pairs for SHIB and PEPE – Times Tabloid

The Cryptocurrency exchange headquartered in San Francisco, Kraken, has revealed the launch of new EUR margin trading pairs for a selection of cryptocurrencies, among which are Shiba Inu (SHIB), Pepe (PEPE), Sei (SEI), and Near Protocol (NEAR). The introduction of these pairs enhances Kraken’s offerings in margin trading, granting its customers the possibility to engage in trades with these pairs utilizing leverage of up to 3x.

Enhanced Opportunities for Margin Trading

The rollout of EUR margin trading pairs for SHIB and PEPE represents a notable milestone within the meme cryptocurrency sphere. The platform had previously incorporated SHIB into its listings in November 2021, spurred by an initiative led by the token’s advocates.

With these newly introduced margin trading pairs, investors now have the capability to leverage their positions in these digital currencies, potentially increasing their profits. It should be noted, though, that margin trading involves considerable risks, and those who are new to the practice should proceed with caution to mitigate the chances of facing financial losses.

Limits and Leverage on Trading

The permissible limits for initiating long or short positions are specific to each of the newly added margin pairs. The maximum number for SHIB/EUR stands at 2 billion SHIB tokens, meanwhile PEPE/EUR is capped at 3.5 billion PEPE tokens. Utilizing up to 3x leverage, investors are able to take positions that surpass the funds they actually hold. Taking SHIB as an instance, a 5% uptick in its market value equates to a 15% profit for an investor in a 3x leveraged long position.

A Brief on Kraken’s History with Margin Trading

Kraken has pioneered in the cryptocurrency exchange domain, having embarked on offering margin trading services back in 2015, beginning with Bitcoin/EUR pair. The subsequent years have seen a broadening of their margin trading selections. In June, Kraken introduced margin trading for a suite of eight stablecoin pairs, in addition to earlier this year when they enriched their portfolio with USD pairs for SHIB, PEPE, and several other cryptocurrencies.

Stay connected with us on Twitter, follow us here: @TimesTabloid1

— TimesTabloid (@TimesTabloid1) July 15, 2023

Understanding the Risks and Taking Precautions

While the opportunities in margin trading can be enticing due to the potential for significant returns, it also comes with heightened risks. Participants in the market should be cognizant of the possibility of incurring losses and should employ strategies to effectively manage their risk profile. Those with limited understanding or experience of margin trading should ideally refrain from engaging in it until they become more knowledgeable and seasoned.

The announcement by Kraken to incorporate new EUR margin pairs for SHIB, PEPE, and other digital currencies presents a pivotal juncture for the platform and the broader crypto ecosystem. With heightened leverage and a wider array of options for trading, investors have the avenue to boost their profits. Nevertheless, a cautious and informed approach to margin trading is essential to mitigate the risks that accompany it.

Disclaimer
: This article is meant for informational purposes only and should not be construed as investment advice. The perspectives contained herein may reflect the author’s subjective opinions and are not necessarily representative of Times Tabloid’s viewpoints. Readers are advised to engage in thorough exploration and due diligence prior to undertaking any investment ventures. Any reader’s decision to act on this information is entirely their responsibility, and Times Tabloid shall bear no liability for any financial repercussions incurred.

Connect with us on Twitter, Facebook, Telegram, and Google News.