HomeAltcoin NewsBitcoin Exchange Kraken Adds Ether Dark Pool Option

Bitcoin Exchange Kraken Adds Ether Dark Pool Option

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Renowned Bitcoin exchange Kraken has added a new feature that enables traders to place large Ether orders in private.

Ether Dark Pool, as the feature is called, is aimed at providing professional traders the facility to protect their trading patterns from unwanted flocking. In absence of such a feature, a trader placing larger orders — in a volatile market — often ends up manipulating the sentiment unintentionally. Not only it impacts the strategies of small traders, but also derails the bigger intraday stakes, those led by professional traders.

Ethereum’s native cryptocurrency Ether is among some instruments that has recently peaked in terms of price and volume. Its popularity among the traders have further resulted into volatile intraday price movements, followed by increasing trade risks. The Ether Dark Pool trading feature, therefore, comes at a right time for traders wishing to trade big sums to receive better profits — with relatively lesser risk.

Kraken, according to its CEO Jesse Powell, is the world’s first digital currency exchange to have introduced a dark pool trading feature for Ethereum traders. The exchange had also introduced a similar feature for Bitcoin traders last year.

“This year,” said Powell, “trading volume for ether has dramatically increased on Kraken’s exchange, and we developed the Ether Dark Pool to bridge the gap between our lit order books and over-the-counter desk,” informing that the option will benefit traders who make buy/sell orders of minimum 50 BTC (~ 2,500 Ether).

The aforementioned feature will be available for the following currency pairs: Ether-Bitcoin (ETH/XBT), Ether-Euro (ETH/EUR), Ether-US Dollar (ETH/USD), Ether-Canadian Dollar (ETH/CAD), Ether-Pound Sterling (ETH/GBP), and Ether-Japanese Yen (ETH/JPY).

Kraken also made a separate announcement, stating that they will also be increasing leverages for certain Ether pairs. As confirmed, the ETH/XBT pair’s leverage has been increased from 2.5x to 4x, while for ETH/EUR and ETH/USD, it has been increased up to 3x.

Yashu gola
Yashu gola
Yashu Gola is an IT-graduate with an intense interest in Bitcoin technology. The techie has been writing on cryptocurrencies for over a year now (over 700 articles to his credit), and is keenly enthusiast about the day-to-day discoveries this sector is making. With Live Bitcoin News, he is looking forward to bring forth his views on the latest Bitcoin events and everything that surrounds it.

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