Crypto Exchange Kraken Sees Surge in U.S. Spot Volume
Crypto exchange Kraken has experienced a significant increase in its share of U.S. spot volume over the past 18 months. This growth aligns with the rising popularity of the Kraken Pro app, which provides access to spot trading, margin trading, and staking. The platform has also seen a five-fold increase in users from January to June 2023.
Main Points:
- Increased interest in the Kraken Pro app has contributed to the surge in U.S. spot volume
- The platform has experienced a five-fold increase in users from January to June 2023
- Kraken’s global spot market share has doubled in the last 18 months
- Kraken has a dominant position in Euro-quoted markets, with its share increasing from 35% to over 50% in the past year
- The exchange plans to introduce new features to enhance user experience, including price alerts
Hot Take: Kraken’s success in expanding its U.S. spot volume and user base highlights the growing interest in cryptocurrencies and the appeal of the Kraken Pro app. By focusing on improving user experience and offering new features, Kraken is well-positioned to continue its upward trajectory in the crypto market.
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