Kraken Expands Futures Trading Offerings with Shiba Inu, Dogwifhat, and Bonk as New Collateral Options Kraken Broadens Futures Trading Offerings with Additional Collateral Options Kraken, a leading US cryptocurrency exchange, has significantly expanded its futures trading offerings by adding Shiba Inu (SHIB), Dogwifhat (WIF), and Bonk (BONK) as new collateral options for future contracts. This …
Kraken Expands Futures Trading with Shiba Inu, Dogwifhat, and Bonk
Kraken Broadens Futures Trading Offerings with Additional Collateral Options
Kraken, a leading US cryptocurrency exchange, has significantly expanded its futures trading offerings by adding Shiba Inu (SHIB), Dogwifhat (WIF), and Bonk (BONK) as new collateral options for future contracts. This update provides traders in the crypto derivatives market with more options to manage their risk with ease, allowing them to use the newly added assets as collateral for futures positions.
The ability to deposit multiple collateral currencies into a single wallet on Kraken is advantageous as it allows traders to trade in dozens of different currencies with ease and efficiency. The exchange’s inclusion of SHIB, WIF, and BONK as collateral options demonstrates its dedication to offering a diverse range of assets for traders, catering to different trading strategies and risk management needs.
Since its listing on Kraken in late 2021, Shiba Inu has gained significant popularity. Its perpetual futures contracts were first unveiled on the Kraken platform in May 2023. SHIB’s decision to offer traders a fresh platform to trade with the asset was deemed opportune.
Kraken has shown interest in broadening its collateral options before. ADA from Cardano was added as a collateral currency in August 2022, signifying the implementation of an initiative by the exchange to offer users dependable and flexible trading options.
Kraken’s new inclusion of SHIB, WIF, and BONK as collateral options is expected to boost the liquidity and trading volumes of these assets. As these cryptocurrencies become more accessible to traders as collateral, it is possible that this will result in greater adoption and interest in these assets, particularly among futures traders.
Kraken’s decision to expand its collateral options also highlights the dynamic nature of the cryptocurrency market. As the industry matures, exchanges are expected to prioritize innovation over providing users with advanced trading tools and features.
The addition of Shiba Inu, Dogwifhat, and Bonk as collateral options for futures contracts by Kraken is aimed at satisfying the needs of users. This move is seen as a significant development in the crypto derivatives market, as it will allow traders to leverage their trading strategies with greater flexibility, adaptability, or even more risk management tools.
Kraken, like other exchanges, is committed to providing users with a world-class trading experience by staying ahead of the evolving cryptocurrency landscape.
For more information on Kraken’s expansion of its futures trading offerings, read our article: Kraken Expands Futures Trading Offerings with New Collateral Options.
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