VeChain (VET) Perpetual Futures Now Available on Kraken Pro

Kraken, a popular US-based crypto exchange, announced it has added support for VeChain (VET) perpetual futures on its platform.

Major US crypto exchange Kraken has announced that users can now trade VeChain (VET) perpetual futures on its platform.

As a result, users can now use VET as one of multiple collateral options on Kraken Pro.

Features and Benefits of the VeChain Perpetual Futures

Kraken Pro announced the development on Thursday in an X post. The move is expected to expand the utility of the VET token, much to the delight of VeChain community members.

According to the exchange, users can now use VET to gain exposure to over 30 collateral options on Kraken Pro. The platform offers diverse profit payouts and access to over 250 markets.

$VET @vechainofficial perpetual futures now live and ready to trade!

Why choose Kraken Pro futures: ☑️ 30+ collateral options ☑️ Diverse profit payouts ☑️ 250+ markets

Open VET perp: https://t.co/nr9EWATrAN

*Geo restrictions apply pic.twitter.com/6CWZBSEiGA

— Kraken Pro (@krakenpro) November 7, 2024

Interested users will need to move their funds to futures wallets in order to use VET as a collateral asset on Kraken.

With VET perpetual futures, traders can speculate on the future price of VET, without worrying about when it will expire.

This gives them the leverage to hedge against price fluctuations. It also provides users more flexibility as they can enter and exit positions anytime based on their investment tolerances.

For long-term investors, the VET perpetual futures eliminate the need to keep rolling over positions into new monthly or quarterly contracts.

The development has sparked excitement among VET enthusiasts, with some traders eagerly awaiting the introduction of VET spot trading on Kraken.

Meanwhile, experts believe that Kraken’s listing of VET is a strong sign of ecosystem growth. In the long run, VET is set to become available to more crypto traders for direct exposure.

The news fueled a slight uptick in VET’s price, which has risen by more than 2% in the past day. At press time, VET trades at $0.02184, with a 24-hour trading volume of $30.2 million.

Kraken Expanding Crypto Portfolio

It is important to note that the VET perpetual futures listing is not the first on Kraken this year.

As reported by CNF, Kraken launched GOAT perpetual futures in October.

This listing allows users to trade GOAT with up to 50x leverage, increasing their risk potential, but also offering the chance for higher returns.

These agreements are subject to a funding rate system that ensures the price remains closely aligned with GOAT.

Prior to the listing, Kraken secured a crypto license from the Bermuda Monetary Authority.

The license, as reported by CNF, will allow Kraken to launch a regulated derivatives trading platform in Bermuda.

Kraken’s new Bermuda platform will offer more than 200 contracts, including perpetual and fixed-term futures, allowing investors to trade derivatives around the clock.

This move will strengthen Kraken’s position in the global crypto market and enable consumers to legally and safely trade crypto futures in a highly regulated environment.

Kraken has also made significant progress in Europe, as CNF previously reported.