Kraken Launches New Desktop Trading App

Crypto exchange Kraken has launched a new desktop trading application aimed at active crypto traders. This app allows tracking of numerous live-market feeds through a fully-customizable interface, complete with proprietary charting and technical analysis tools.

Overview

The public release of Kraken Desktop comes after a successful private beta phase. According to a statement from Kraken, the app provides full access to all of its spot and futures markets. It introduces several tools and functionalities that strive to deliver the “most high-powered and comprehensive crypto trading experience.”

Inspiration from Cryptowatch

Kraken Desktop draws inspiration from the previously popular Cryptowatch tool, which was discontinued in July 2023, disappointing many users. Kraken co-founder Jesse Powell’s efforts to survey user preferences for a potential retention of Cryptowatch were ultimately unsuccessful, leading to its discontinuation. Instead, users were encouraged to transition to Kraken Pro for advanced trading tools.

User Experience Enhancements

Designed to complement existing platforms, Kraken Desktop has been built from the ground up to enhance user trading experiences, building on the legacy of Cryptowatch. "For over a decade, Kraken has dedicated itself to supporting active traders globally, offering advanced trading tools in the crypto space," stated Kraken co-CEO David Ripley.

Functionality of Kraken Desktop

Kraken Desktop utilizes a Rust-native tech stack for improved responsiveness and reliability, available for Windows, Mac, and Linux.
– Performance: Designed for low-latency trading experiences for real-time market reactions.
– Tools: Includes ladder trading for multiple limit orders and smart order placement features.

According to Senior Engineering Manager Clark Moody, “Active traders are essential for liquidity and price discovery in the crypto market. Kraken Desktop equips them with powerful tools to enhance their trading experience.”

Recent Developments

In recent weeks, Kraken has launched new products, like its wrapped bitcoin alternative, kBTC, on Ethereum and OP Mainnet, alongside plans for launching an Ethereum Layer 2 project, Ink, in early 2025.

However, the company has faced challenges, recently confirming layoffs, on the same day that Arjun Sethi was appointed as co-CEO to support growth alongside Ripley.