This Major Exchange Introduces Viral Meme Coins to Canadian Users: Details
The post This Major Exchange Introduces Viral Meme Coins to Canadian Users: Details appeared on BitcoinEthereumNews.com.
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 that the popular meme coins Pepe (PEPE) and dogwifhat (WIF) are now available for trading to Canadian-based clients. Despite showing further support toward the aforementioned tokens, the company warned that jumping on the bandwagon “involves risk of loss.” Traders are often advised to invest only as much as they are ready to lose and enter the ecosystem after conducting proper research. 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 on a weekly scale, coinciding with the broader decline of the entire digital asset sector. The global market capitalization of the industry currently stands at around $2.05 trillion, with Bitcoin (BTC) falling below $56,000 and Ethereum (ETH) trading under $2,400. 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. Kraken and SHIB Last month, the firm extended its support to one of the biggest meme coins in terms of market cap – Shiba Inu (SHIB). It added several margin pairs on its platform, including SHIB/EUR, enabling more options for European users, especially those who primarily deal with the official currency of the Eurozone. 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…
Filed under: News - @ September 6, 2024 10:17 am