{"id":4101,"date":"2024-09-06T08:53:07","date_gmt":"2024-09-06T08:53:07","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=4101"},"modified":"2024-09-06T08:53:07","modified_gmt":"2024-09-06T08:53:07","slug":"this-major-exchange-introduces-viral-meme-coins-to-canadian-users-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=4101","title":{"rendered":"This Major Exchange Introduces Viral Meme Coins to Canadian Users: Details"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

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The Canadian clients of a popular crypto exchange can now trade meme coins Pepe (PEPE) and dogwifhat (WIF).
\nThe company recently added Shiba Inu (SHIB) as a new margin trading pair and collateral asset, offering more trading flexibility and leverage options.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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More Options for Canadian Users<\/span><\/h2>\n

The leading cryptocurrency exchange, Kraken, announced<\/a> on X that the popular meme coins Pepe (PEPE) and <\/span>dogwifhat<\/span> (WIF) are now available for trading to Canadian-based clients.\u00a0<\/span><\/p>\n

Despite <\/span>showing further support toward<\/span> the <\/span>aforementioned tokens<\/span>, the company warned that jumping on the bandwagon \u201cinvolves risk of loss.\u201d Traders <\/span>are often advised<\/span> to invest only as much as they are ready to lose and enter the ecosystem after conducting proper research.<\/span><\/p>\n

Additional backing from a major exchange like Kraken may positively impact the prices of the involved cryptocurrencies due to improved liquidity and increased credibility. However, PEPE and WIF remain deep in the red <\/span>on a weekly scale<\/span>, coinciding with the broader decline of the entire digital asset sector.<\/span><\/p>\n

The <\/span>global market capitalization of the industry<\/span> currently stands at around $2.05 trillion, with Bitcoin (BTC) falling below $56,000 and Ethereum (ETH) trading under $2,400.<\/span>\u00a0<\/span><\/p>\n

The situation in the meme coin niche seems even worse. Cat-themed tokens like Popcat (POPCAT) and Mog Coin (MOG) are among the poorest performers, plunging by double digits.<\/span><\/p>\n

Kraken and SHIB<\/span><\/h2>\n

Last month, the firm extended its support to one of the <\/span>biggest<\/span> meme coins in <\/span>terms of<\/span> market cap \u2013 Shiba Inu (SHIB). It <\/span>added<\/span><\/a> several margin pairs on its platform, including SHIB\/EUR, enabling more options for European users, especially those who primarily deal with\u00a0the official currency of the Eurozone.\u00a0<\/span><\/p>\n

Margin trading allows clients to use borrowed funds to make leveraged trades. To participate, they must offer collateral, which can be in the form of cryptocurrencies. This option provides the opportunity for greater profits but also comes with a higher risk of being liquidated. The SHIB\/EUR pair offers up to 3x leverage with a $2 billion limit on opening long and short positions.<\/span><\/p>\n

Shortly after, Kraken <\/span>included<\/span><\/a> the meme coin as a new collateral asset for futures trading. \u201cYou can now use SHIB to get exposure to over 200 perpetual futures.\u00a0<\/span>Simply<\/span> transfer SHIB from your Kraken spot wallet to your Futures wallet to get started,\u201d it disclosed.<\/span>\u00a0<\/span><\/p>\n

In crypto futures trading, collateral assets are tokens that traders deposit to support their position. This deposit <\/span>serves as<\/span> a security to cover possible losses and guarantees that the trader can meet their financial commitments under the contract.<\/span><\/p>\n

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The post This Major Exchange Introduces Viral Meme Coins to Canadian Users: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR The Canadian clients of a popular crypto exchange can now trade meme coins Pepe (PEPE) and dogwifhat (WIF). The company recently added Shiba Inu (SHIB) as a new margin trading pair and collateral asset, offering more trading flexibility and leverage options. More Options for Canadian Users The leading cryptocurrency exchange, Kraken, announced on X […]<\/p>\n","protected":false},"author":0,"featured_media":4102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/4101"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4101"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/4101\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/4102"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}