Kraken Expands Perpetual Futures Offerings to Include Pi Network's PI Token, Enabling Trading with Up to 20x Leverage

Kraken has introduced perpetual futures contracts for Pi Network's native token, PI, allowing traders to speculate on its price with up to 20x leverage, according to a May 23 announcement.

Kraken has introduced perpetual futures contracts for Pi Network’s native token, PI, enabling traders to speculate on the token’s price with up to 20x leverage, the exchange announced on May 23.

The listing marks the token’s first appearance on a major derivatives platform. However, it failed to generate immediate positive momentum for the token.

Based on CryptoSlate data, PI was trading at $0.77 at press time, down 5.33% over the past 24 hours.

It allows investors to gain leveraged exposure to PI without needing to hold the asset directly, providing an avenue for traders to capitalize on its price movements amid ongoing questions over the project’s decentralization and token's price performance.

First Pi derivative

While PI has yet to secure listings on leading spot exchanges like Coinbase or Binance, its derivatives debut signals growing institutional interest in the network.

The new perpetual contracts will be accessible on Kraken Pro, which offers access to over 360 trading markets and more than 40 collateral options.

Perpetual futures differ from traditional futures contracts by having no expiration date. This allows traders to keep their positions open indefinitely, subject to funding rate payments.

The addition of leveraged futures trading may serve to increase liquidity but could also exacerbate price swings and volatility in the short-term, something the network has been struggling with since its launch.

Moreover, traders may open large positions, and liquidations on both long and short positions could spark further price volatility in the near term.

The post Kraken lists Pi Network (PI) perpetual futures contracts with up to 20x leverage appeared first on CryptoSlate.