Kraken to cancel orders across 176 crypto markets in sweeping trading overhaul
Summary
Kraken will replace 176 cryptocurrency trading pairs with synthetic markets between Nov. 6 and Nov. 9. Affected markets will first enter cancel-only mode, and all outstanding orders will be canceled; customers must place new orders after migration. The underlying assets, balances and margin pairs will remain available. Synthetic trades route through two existing markets with a shared currency, combining execution into one trade. Kraken says the model can draw on deeper liquidity and offer tighter spreads, but every trade—including limit orders—will incur taker fees. The new markets will not support partial fills, post-only orders or time-in-force settings, affecting strategies that rely on maker pricing and advanced order controls.
