Cryptocurrency exchange Kraken continues its policy of expanding trading opportunities for platform users and has introduced new pairs for margin trading with Internet Computer (ICP), Pepe (PEPE), Shiba Inu (SHIB), and DogWifHat (WIF) tokens.
"Margin trading on Kraken is now available for pairs with ICP, PEPE, SHIB, and WIF," the cryptocurrency exchange announced on its official page.
ICP/USD, PEPE/USD, SHIB/USD, and WIF/USD margin pairs are traded with 1:3 leverage.
ICP is a proprietary utility token of the Internet Computer Network, a blockchain network that aims to provide greater efficiency, speed, and decentralization of computing and data storage processes. Developers can create online services using the blockchain. The ICP token is used for incentives on the network and serves as a governance token, allowing holders to vote on decisions that affect the future of the protocol.
PEPE is a meme coin created on the Ethereum blockchain that quickly gained popularity after its launch in April 2023. PEPE has positioned itself as a people-centric digital asset that aims to challenge the dominance of the Shiba Inu meme coin.
Shiba Inu (SHIB) is an Ethereum-based meme token launched in 2020 by an anonymous developer known as Ryoshi. The project was created as an answer to a single question: what would happen if a cryptocurrency project was 100% managed by its community?
Dogwifhat (WIF) is a meme coin based on the Solana blockchain, featuring a Shiba Inu dog wearing a hat. The token is focused on community engagement through meme contests and charity events, rather than serious financial investment.
Kraken states that in order to trade on margin, you must have at least one collateral currency. However, the availability of margin trading services is subject to certain restrictions and eligibility criteria.
Margin trading involves additional fees for opening, closing, and maintaining a position.
Kraken's developers are adding margin pairs to the platform, but they never announce the details prior to launch.
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