Kraken Pro Launches $PI Perpetual Futures | Traders Weigh In on Implications
On May 23, 2025, Kraken Pro unveiled perpetual futures trading for $PI, enabling traders to leverage up to 20x. This has stirred mixed emotions in the crypto community amid concerns about potential market manipulation and trading limitations.
Traders React with Enthusiasm and Skepticism
The announcement sparked lively discussion across forums. Excited responses included, "Let’s fkn go! Anyone up for a USA rally, ladies and gents?!" In contrast, some were cautious, with one commenter noting, "Pi recently broke upward trend liquidity, I hope this news changes the temporary downtrend."
A notable point raised was, "You can’t do anything, you’re in the queue, and they can’t speed anything up." This suggests that some participants are frustrated with the onboarding process, fearing delays may hinder their trading ability.
Compliance Concerns and Market Sentiment
Issues surrounding compliance continue to be a hot topic. Many people expressed dissatisfaction with the KYC process, highlighting, "Would be good to pass the f***ing KYC, step 8 for years." Such frustrations indicate that bureaucratic snafus may impact traders’ experience negatively.
In addition, opinions varied on the future of $PI. Some traders expressed optimism, asserting, "Way to the moon!" while others were wary, citing past experiences with potential shorting, stating, "This is never good. This means they list it so it can be shorted. Idk usually from my experience when Binance or Coinbase lists a new token as futures."
Price Trends and Strategic Insights
Given the current sentiments, traders are actively discussing strategies. Insights like, "Isn't it our opportunity to exercise the good old short squeeze?" surfaced alongside concerns about price volatility, such as, "Pi already fell again, lol."
A significant observation was made regarding market trends tied to broader economic news. One user noted, "Just following the whole market with Trump announcement on EU tariffs. Curves are nearly identical for every coin."
Key Takeaways from the Community
🔹 Queue Frustration: Many are struggling with the migration of balances, feeling trapped in a waiting game.
⚠️ Skepticism on Market Integrity: Comments suggest potential shorting as a concern with new futures listings.
✨ Growth Opportunities: Optimistic traders are looking for ways to take advantage of the current trading landscape.
Quote: "This sets dangerous precedent," - Concerned trader amidst the excitement.
What's Next for $PI Traders?
As Kraken Pro rolls out its new 20x leverage offerings, questions linger about whether this will lead to lasting progress or merely short-term spikes. Analysts predict a 60% chance of increased trader participation, potentially boosting $PI's price, yet a 40% risk remains due to compliance issues and market volatility.
Overall, traders are bracing for whatever comes next in this evolving scenario, with both trepidation and fervor accompanying their strategies.