Kraken Integrates Shiba Inu (SHIB) for Futures and Margin Trading, Boosting Crypto Adoption
Kraken, a leading US-based cryptocurrency exchange, has bolstered its support for Shiba Inu (SHIB) by adding it as a collateral asset for futures trading. This move follows the listing of SHIB on Kraken in November 2021 and the recent introduction of SHIB/EUR margin pairs. With the new collateral feature, users can leverage SHIB for over 200 perpetual futures contracts, significantly enhancing its utility and market impact. Prominent figures in the SHIB community, such as Shytoshi Kusama, have expressed their approval. This development comes as other major platforms like Robinhood and Coinbase also expand their trading services for SHIB, signaling growing acceptance and adoption of the meme coin in the crypto market.
Bullish
This news indicates a growing acceptance of Shiba Inu (SHIB) in the cryptocurrency market, with Kraken adding significant trading features like collateral for futures and margin trading. Coupled with similar moves by platforms like Robinhood and Coinbase, this signals increased utility and adoption of SHIB, likely to enhance its market value and attract more investors. Such developments usually lead to positive short-term market reactions and can have a long-term bullish impact on SHIB’s price stability and growth.