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Kraken added Shiba Inu as collateral for futures trading, enhancing its support for the popular meme coin.Shiba Inu on its platform in November 2021. Since then, it has increased its support for the self-proclaimed Dogecoin-killer, enabling various trading services with it.Kraken did not stop there, adding Shiba Inu as a new collateral asset for futures trading on August 29. “You can now use SHIB to get exposure to over 200 perpetual futures.
One of the key developers and leaders of the Shiba Inu project, using the nickname Shytoshi Kusama, retweeted Kraken’s announcement, sharing a simple happy emoji symbol. SpecialK – another pseudonymous member of the SHIB community – was more eloquent, “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 type of derivative product allows traders to speculate on the future price movements of the underlying assets without holding them. It offers high leverage, has no expiration date, and requires people to have a certain margin level to keep their positions open.
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