As the crypto market continues to slope upward, new industry advancements are taking place by the minute. KRIPPY, an AI assistant released by Kraken, is providing real-time trading tips personalized to each user’s behavior and preferences. KRIPPY offers personalized advice for both veteran traders and newbies that helps navigate the crypto trading market.
The AI initiative can be viewed as a response to the SEC’s claims of operating unregistered enterprises and mismanaging consumer assets. It allows users to define their own risk parameters and receive warnings if trades or portfolios exceed them.
KRIPPY AI
Price analysis, real-time trading tips, interpreting technical analytics, and matching trades to tokens or projects that align with investment objectives and risk tolerance are just a few of the features that set KRIPPY apart as an invaluable resource for traders seeking to enhance their tactics and optimize returns in the erratic cryptocurrency market.
KRIPPY’s powerful algorithms and machine learning skills allow it to react to shifting market patterns, monitor price change factors, and give users current information and insights to help them make informed decisions.
With Kraken’s involvement in legal proceedings related to the SEC’s lawsuit accusing Kraken of operating unregistered businesses and mishandling customer assets, one could interpret this AI initiative as a response to such accusations, as Kraken now aims to assist users in making the best decisions in the crypto markets in a more transparent way.
KRIPPY users can set their own risk parameters and receive alerts if trades or portfolios exceed those set limits.
Certain spot trading pairs will only allow order cancellations when they enter “Cancel Only” mode on the Kraken Pro app and for users who transact via Kraken’s WebSockets API and REST API on April 4, 2024. Following that, by April 5, all open orders for specific pairings will be canceled, and trading will be suspended. Open margin holdings in REP/BTC and ZEC/BTC are set to be liquidated.
This decision was made as API traders frequently adjust their orders, resulting in adding or canceling orders in reaction to price fluctuations. Since the foundation of their trading technique is short-buying and short-selling, prices could be affected if trade is suspended for planned maintenance or other reasons. Cancel mode assures that when Kraken returns online, orders will not be executed but may be canceled for a few minutes.