San Francisco-based cryptocurrency exchange Kraken has announced the addition of new EUR margin pairs for several cryptocurrencies, including Shiba Inu (SHIB), Pepe (PEPE), Sei (SEI), and Near Protoco

This move expands the exchange's margin trading offerings, allowing users to trade these pairs with up to 3x leverage.

Major cryptocurrency exchange Kraken has announced the addition of new EUR margin pairs for several cryptocurrencies, including Shiba Inu (SHIB), Pepe (PEPE), Sei (SEI), and Near Protocol (NEAR). This move expands the exchange’s margin trading offerings, allowing users to trade these pairs with up to 3x leverage.

Announcing the development on Saturday, Kraken highlighted the addition of SHIB and PEPE to its margin trading platform. The exchange had listed SHIB in November 2021, following a community-driven campaign to get the meme cryptocurrency listed on Kraken.

With the new margin pairs, traders can now access increased leverage for these cryptocurrencies, potentially amplifying their gains. However, it is crucial to note that margin trading carries inherent risks, and inexperienced traders should exercise caution to avoid potential losses.

The limits for long and short positions also vary across the newly listed pairs. For SHIB/EUR, the limit is set at 2 billion tokens, while PEPE/EUR has a limit of 3.5 billion tokens. Notably, traders can access up to 3x leverage for these pairs, allowing them to open positions that exceed their balance. For instance, a 5% gain in the SHIB price would translate to a 15% gain in a 3x long position.

Kraken, one of the oldest cryptocurrency exchanges, introduced margin trading in 2015 with the Bitcoin/EUR pair. Since then, the exchange has expanded its margin trading offerings significantly. In June, Kraken introduced margin trading for eight stablecoin pairs, and earlier this year, the exchange added USD pairs for SHIB, PEPE, and other cryptocurrencies.

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While margin trading offers potential benefits, it also comes with significant risks. Traders should be aware of the potential for losses and take necessary precautions to manage their risk exposure. For instance, inexperienced traders are advised to avoid margin trading until they gain sufficient knowledge and experience.

In other news, the cryptocurrency exchange Binance has announced the addition of support for the Sei blockchain, a Layer-1 proof-of-stake (PoS) protocol designed for decentralized finance (DeFi) applications. With this move, Binance aims to bolster its presence in the burgeoning Sei ecosystem.

Announcing the development on Friday, Binance stated that it will support Sei’s native token, SEI, and several other tokens within the Sei ecosystem. The exchange will also list and open trading for SEI/BTC, SEI/BNB, and SEI/BUSD pairs on its platform.

This integration will enable Binance users to seamlessly trade, deposit, withdraw, and view the balances of SEI and other supported tokens. The exchange also plans to introduce additional trading pairs and value-added services for the Sei ecosystem in the future.

The Sei blockchain is designed to provide fast transaction finality and low fees, catering specifically to the needs of DeFi applications. The protocol employs a Tendermint-based consensus mechanism and boasts a high throughput of up to 100,000 transactions per second (TPS).

To achieve decentralization, Sei utilizes a proof-of-stake (PoS) consensus model, where validators stake SEI tokens to participate in the network and secure the chain. In return for their contributions, validators earn rewards and transaction fees.

This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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