Exploring More Trading Options for SHIB in 2024 📈
As a crypto enthusiast, you’ll be pleased to hear that Kraken, a prominent US-based crypto exchange, has recently expanded its margin pairs to include SHIB/EUR, NEAR/EUR, SEI/EUR, and PEPE/EUR. This move opens up more trading possibilities for European users, particularly those who transact primarily in euros.
- Margin trading allows users to leverage borrowed funds for trades, requiring collateral in the form of cryptocurrencies. While this strategy offers the potential for higher returns, it also comes with increased risks of liquidation.
- Each margin pair on Kraken has unique specifications, such as the SHIB/EUR pair offering up to 3x leverage with a $2 billion limit on opening long and short positions.
Wider Support for SHIB and Other Altcoins 🚀
In addition to Kraken’s recent inclusion of SHIB in its margin pairs, other major exchanges have embraced the meme coin:
- Binance, Coinbase, and Crypto.com are among the industry giants that have joined the SHIB trading bandwagon.
- Robinhood, a US-based financial services firm, recently launched SHIB trading services for residents of New York State, expanding accessibility to the meme coin.
- Coinbase introduced 1000SHIB-PERP perpetual futures contracts earlier this year, enabling traders to speculate on cryptocurrency price movements without owning the assets. These contracts offer high leverage, no expiration date, and require users to maintain a margin level to keep positions open.
Looking Ahead to SHIB’s Community Takeover 🌟
Reflecting on SHIB’s backstory, the project originated in 2020 with an anonymous developer named “Ryoshi.” The community-driven ethos behind SHIB aims to empower users fully:
“What would happen if a cryptocurrency project was 100% run by its community?” – Kraken
The SHIB team plans to transition control to the community by the year’s end, marking a significant milestone in its journey towards complete decentralization.
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