Kraken Expands Futures Collateral Options, Adds SHIB, WIF, and PEPE
Kraken, one of the top crypto exchanges, has caught the traders’ eye with its recent announcement to expand its future trading options.
Major crypto exchange Kraken has added three top meme coins, Shiba Inu (SHIB), dogwifhat (WIF), and Pepe Coin (PEPE), as collateral for futures trading, according to a recent announcement. This latest development has also sparked discussions over a potential rally of the tokens due to the update.
As per the latest announcement, Kraken has integrated SHIB, WIF, and PEPE into its futures trading platform, allowing traders to use these meme coins as a form of security to obtain futures contracts. This move is expected to provide more flexibility and accessibility to investors, which in turn could potentially drive the engagement of these tokens higher.
To utilize this feature, investors need to transfer SHIB, WIF, or PEPE from their Kraken spot wallets to their futures wallets. Notably, this functionality expands the utility of Shiba Inu and the other meme coins beyond traditional spot trading, giving them a foothold in the more complex futures market. As these tokens become part of more sophisticated trading strategies, their market demand and visibility could increase, leading to potential price movements.
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