Kraken expands margin trading pairs for PEPE, NEAR, SEI, and SHIB
Kraken expands margin trading pairs for PEPE, NEAR, SEI, and SHIB
Crypto exchange Kraken is expanding its margin trading services to include new pairs for Pepe (PEPE), Near Protocol (NEAR), Sei (SEI) and Shiba Inu (SHIB). This move is part of Kraken's efforts to cater to the growing demand for diversified trading options.
The introduced margin pairs include PEPE/EUR, NEAR/EUR, SEI/EUR, and SHIB/EUR, each offering up to 3x leverage. This means traders can borrow funds to amplify their positions on these tokens, with specific limits set for long and short positions.
Margin trading parameters for new pairs:
Base token / Pair name / Available leverage / Long position limit / Short position limit
- PEPE / PEPEEUR / 3 / 3,500,000,000 / 3,500,000,000
- NEAR / NEAREUR / 3 / 7,000 / 7,000
- SEI / SEIEUR / 3 / 100,000 / 100,000
- SHIB / SHIBEUR / 3 / 2,000,000,000 / 2,000,000,000.
Pepe (PEPE) is a memecoin built on the Ethereum blockchain, inspired by the popular Pepe the Frog character. Since its launch in April 2023, PEPE has quickly gained popularity as a community-driven digital asset aimed at challenging the dominance of other memecoins.
Near Protocol (NEAR) is a Layer 1 blockchain designed for the development and deployment of decentralized applications (dApps). It utilizes a sharding mechanism to enhance scalability and transaction speed. NEAR tokens are used to pay network transaction fees and participate in governance, making it a key player in the blockchain space.
Sei (SEI) is another Layer 1 blockchain, developed within the Cosmos ecosystem, focusing on next-generation DeFi infrastructure. SEI uses central limit order books (CLOBs) to facilitate decentralized applications and liquidity access. The SEI token serves as both a gas fee payment method and a governance token, reflecting its main role in the network.
Shiba Inu (SHIB), often dubbed the "Dogecoin killer," is an Ethereum-based memecoin launched in 2020. Created by an anonymous developer, SHIB has become one of the most popular community-driven cryptocurrencies, known for its vibrant and engaged user base.
Traders looking to use Kraken's margin trading services must hold at least one collateral currency and be aware of the associated fees for opening, closing, and holding positions. Kraken also advises caution, noting that there are no guarantees regarding the execution of limit orders or the availability of margin pools at all times.
As the cryptocurrency market continues to evolve, Kraken's expanded offerings position it to meet the needs of a growing user community.
