Gemini Adds XRP and SHIB as Collateral for Derivatives Trading
Main Idea
Gemini has expanded its cross-collateral options for derivatives trading to include XRP, SHIB, DOGE, SOL, and Bitcoin Cash, allowing traders to use these cryptocurrencies as margin alongside Bitcoin.
Key Points
1. Gemini now accepts XRP, SHIB, DOGE, SOL, and Bitcoin Cash as collateral for perpetual derivatives trading, expanding beyond just Bitcoin.
2. Cross-margin functionality enables traders to use idle crypto holdings to cover potential losses in derivatives trading.
3. The value of collateral is calculated based on the total worth of the deposited assets, which can fluctuate rapidly, increasing risks.
4. XRP and SHIB are noted for their high volatility, with XRP experiencing a 10% price drop on July 24 as an example.
5. The platform's move provides more flexibility but also introduces risks due to the unstable nature of some accepted assets.
Description
XRP and SHIB are now accepted as margin for perpetuals on the Gemini cryptocurrency platform
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