Exciting Developments for Shiba Inu
Shiba Inu, the popular meme coin that has been making waves in the cryptocurrency world, has seen some significant advancements this year. From being added as collateral for futures trading to gaining support from major platforms, SHIB is gaining traction like never before.
SHIB’s Adoption on the Rise 🚀
The US-based exchange, Kraken, officially listed Shiba Inu (SHIB) on its platform back in November 2021. Since then, the exchange has been ramping up support for SHIB, introducing new trading options and pairing it with different currencies.
- Kraken recently added SHIB/EUR to its list of margin pairs, allowing users to engage in leveraged trades using loaned funds.
- Moreover, SHIB has been included as a collateral asset for futures trading on Kraken, providing exposure to over 200 perpetual futures contracts.
The Significance of Collateral Assets in Futures Trading 🔄
Collateral assets play a crucial role in futures trading, acting as security for market participants to cover potential losses and ensure financial obligations are met under the contract. By using SHIB as collateral, traders can take advantage of the lucrative opportunities offered by futures trading while minimizing risks.
Community Reactions and Support 🌟
Members of the SHIB community, including key developers and influencers, have expressed excitement over Kraken’s decision to integrate SHIB into its trading services.
“This is a massive milestone for the Shibtoken community! Last Bull Run, this very catalyst ignited the momentum for us, and now, with Kraken Pro – known for its strict standards and fully decentralized ethos like Bitcoin – we’re on the brink of something big again. This is huge!”
Who Else Hopped on the Bandwagon?
Aside from Kraken, other prominent platforms have also embraced Shiba Inu, offering new trading services and products related to the meme coin. Robinhood and Coinbase, two major players in the crypto space, have made significant moves to cater to the growing demand for SHIB.
- Robinhood now allows New York residents to trade SHIB on its platform, expanding access to the coin in a key market.
- On the other hand, Coinbase has introduced 1000SHIB-PERP perpetual futures contracts, opening up new avenues for traders to speculate on SHIB’s price movements.
The Appeal of Perpetual Futures Contracts 🔮
Perpetual futures contracts have gained popularity in the crypto space due to their high leverage, absence of expiration dates, and margin requirements. This derivative product enables traders to capitalize on price fluctuations without actually owning the underlying asset, offering flexibility and potential for significant returns.
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