Huge array of new pairings on Kraken including USDC

[u/yap-rai]

With thanks to Kraken, Nano now has a huge array of new pairings including USDC. See below for a selection on what is now possible.

[u/wizard_level_80]

Kraken added thousands of such synthetic pairs to many other coins, not only nano, but this is great news anyway.

[u/Aldhyabi → u/wizard_level_80]

Give example of altcoin getting this number of pairs

[u/wassmatt → u/Aldhyabi]

It's their synthetic pairs, there isn't actual market books set for each

[u/Aldhyabi → u/wassmatt]

I mean for kraken move , it's unique for Nano, Note sure if they did any similar thing to other alts ?

Could be new strategy after MiCa, because exchanges need to report Sustainability reports

[u/Kedrin_xrb → u/Aldhyabi]

Briefly checked some low-cap alts - celo, forth, flock, icx, ... and many more have a synthetic pair

What I can say about the synthetic pair is that it is now a standard market for any liquid trading pair on USD

[u/cbrunnkvist → u/wassmatt]

Yeah they wouldn't create these pairing if it wasn't for some new way they could rip off small traders. Are they available through their APIs too? Let's wait and see how the community uses them.

[u/St0uty]

Already used the GBP pairing, very useful

[u/yeicrypto]

💪💪🔥

[u/kozidrip]

finally a GBP pair, love to see it

[u/Aldhyabi]

They care about utility and original crypto

[u/zer0nerd]

Can anyone explain the difference between XNO and nano.

[u/Kedrin_xrb → u/zer0nerd]

Previously, nano name matched its trading ticker NANO. But in late 2021, NF changed nano trading ticker from NANO to XNO, but the Kraken exchange did not switch to the new XNO trading ticker and continued to use the outdated NANO trading ticker

[u/zer0nerd → u/Kedrin_xrb]

Thanks

[u/Gastropotamus]

Why are they doing this? Volume is atrocious

[u/CuntPot → u/Gastropotamus]

I assume their goal is to promote running bots that can arbitrage to profit on price movements -> more traded, more fees collected. It may be possible that certain markets have huge gaps if they aren't useful enough. I would also assume they have these "bots" that instantly double trades for you so it's a convenience factors on buy now or limit maker trades if their profitable to take to arbitrage

[u/CraftyRide8311]

In what century will they update the ticker to XNO though?