Kraken Adds Support for PEPE and WIF USD Pair

• Kraken now supports new margin pairs for Internet Computer (ICP), Pepe (PEPE), Shiba Inu (SHIB), and DogWifHat (WIF).

• Kraken provides brief descriptions of ICP, PEPE, SHIB, and WIF tokens.

• Kraken reminds users about margin trading risks, fees, and the unpredictable nature of crypto markets.

Kraken now supports margin trading for several new crypto assets – Internet Computer (ICP), Pepe (PEPE), Shiba Inu (SHIB), and DogWifHat (WIF). Margin trading allows traders to open leveraged positions and potentially amplify their gains (and losses). This article provides an overview of margin trading on Kraken and key details about the newly listed margin pairs.

New Margin Pairs

The following margin pairs are now available on Kraken for ICP, PEPE, SHIB, and WIF:

ICP/USD (3x leverage)
PEPE/USD (6x leverage)
SHIB/USD (15x leverage)
WIF/USD (14x leverage)

Background on the Tokens

ICP – Internet Computer is a decentralized blockchain that aims to host web services and applications. The ICP token facilitates network participation and governance.

PEPE – Pepe is a meme coin inspired by the popular Pepe the Frog character. It differentiates itself from dog-themed meme coins.

SHIB – Shiba Inu is a meme coin that brands itself as a community-driven project started in response to Dogecoin.

WIF – DogWifHat is a meme coin on Solana featuring a Shiba Inu dog with a hat. It focuses on community engagement.

Margin Trading Essentials

Before trading with leverage, understand that margin trading has additional risks, fees, and requirements:

Collateral is required to open leveraged positions.
Eligibility criteria must be met to access margin trading.
There are fees for opening, closing, and maintaining margin positions.

Kraken plans to offer more margin pairs in the future but will not reveal details ahead of launch.

NEW: @krakenfx Exchange now supports $WIF and $PEPE USD margin pairs

Here are the top 5 meme coins over the last 24 hours 👇

• Harambe on Solana (@harambeonsolana) #HARAMBE: +52%

• Popcat (@POPCATSOLANA) $POPCAT: +51%

• Jeo Boden (@bodenonsolana) $BODEN: +51%

• Gigachad…
— BlockNews.com (@blocknewsdotcom) May 2, 2024

Trade cautiously as margin trading carries significant risks:

Limit orders may not execute as expected.
Margin liquidity could become unavailable.
Market orders may fill at unexpected prices.

Offering margin trading for an asset is not an endorsement by Kraken. Do your own research before trading.

Conclusion

Margin trading allows traders to amplify potential gains and losses. Kraken now supports margin pairs for ICP, PEPE, SHIB, and WIF. Understand the risks and requirements before trading with leverage. As always, invest deliberately.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.