- Shiba Inu holders can leverage their tokens using Kraken’s new futures contracts increasing their exposure to various assets without selling.
- Futures trading offers SHIB holders the ability to control larger positions with less capital and hedge against price declines.
- While SHIB’s value has grown significantly, Shiba Inu announced two new games in the pipeline: Agent Shiboshi and Shiboshi Rush.
Shiba Inu gets a major boost after Kraken, a leading cryptocurrency exchange expands collateral options for futures. As per the official post, SHIB is now a new collateral option for the platform’s perpetual futures contracts. This expansion allows traders to leverage their SHIB holdings to gain exposure to a wide range of assets without selling their underlying tokens.
Users will be able to utilize Shiba Inu as collateral by simply transferring their SHIB tokens from their Kraken spot wallet to their Futures wallet. Once transferred, the popular meme coin can be used to open and maintain positions in various perpetual futures contracts.
Using SHIB as collateral would enable SHIB holders to increase exposure by diversifying their portfolios and potentially increasing their returns. Secondly, futures trading allows traders to leverage their positions, meaning they can control larger positions with a smaller amount of capital. SHIB can also be used to hedge against potential price declines in the spot market, providing a way to mitigate risk.
In general, Kraken’s addition of SHIB as a collateral option for futures trading is a significant step forward for the platform and its users. By offering more flexibility and opportunities, the trading platform is solidifying its position as a leading exchange in the cryptocurrency market.
Shiba Inu Gaming Empire Expands
In related news, Shiba Inu’s much-awaited Shiba Eternity is inching closer to its launch date. As the community braces itself for the Web 3 version, marketing guru, Lucie took to X to remind them how the meme coin project is building a gaming empire with the upcoming hyper-casual titles. The top exec highlighted two new games in the pipeline: Agent Shiboshi and Shiboshi Rush.
Beyond Shiba Eternity, the Shiba Inu team has embarked on two new hyper-casual games characterized by simplicity and ease of play. One of the two such games about to hit the scene is Agent Shiboshi, which offers an action-packed experience where players guide a Shiba Inu character through various challenges, evading obstacles, and confronting enemies in fast-paced gameplay. Agent Shiboshi is like if James Bond had a Shiba Inu makeover.
