• February 28, 2024

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Kraken to Launch Futures Trading on Dogecoin

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Cryptocurrency exchange Kraken will launch today trading in futures on the digital asset-meme Dogecoin.

Starting today, traders will have access to a multi-currency wallet to enter into futures contracts. It allows users to use different currencies as collateral and convert profits into pre-selected assets. For example, users can open a position in DOGE/USD and take a profit in Bitcoins.

Dogecoin could not avoid the bearish trend raging in the markets of most of the leading cryptocurrencies by capitalization level. The price of the coin started to fall on June 18 and by the end of the day it had fallen to its lowest level since March 2021 at $0.0491. Thanks to the quickly followed correction, the value of the asset has consolidated in a range above $ 0.05.

Elon Musk said on Thursday that it would be possible to buy goods from SpaceX for DOGE. The businessman has also hinted at an expansion of the list of products for payment of which the coins will begin to be accepted.