diff --git a/homeassistant/components/kraken/const.py b/homeassistant/components/kraken/const.py
index ae626349cb0..816fb35fadb 100644
--- a/homeassistant/components/kraken/const.py
+++ b/homeassistant/components/kraken/const.py
@@ -50,77 +50,93 @@ class KrakenSensorEntityDescription(SensorEntityDescription, KrakenRequiredKeysM
 SENSOR_TYPES: tuple[KrakenSensorEntityDescription, ...] = (
     KrakenSensorEntityDescription(
         key="ask",
+        name="Ask",
         value_fn=lambda x, y: x.data[y]["ask"][0],
     ),
     KrakenSensorEntityDescription(
         key="ask_volume",
+        name="Ask Volume",
         value_fn=lambda x, y: x.data[y]["ask"][1],
         entity_registry_enabled_default=False,
     ),
     KrakenSensorEntityDescription(
         key="bid",
+        name="Bid",
         value_fn=lambda x, y: x.data[y]["bid"][0],
     ),
     KrakenSensorEntityDescription(
         key="bid_volume",
+        name="Bid Volume",
         value_fn=lambda x, y: x.data[y]["bid"][1],
         entity_registry_enabled_default=False,
     ),
     KrakenSensorEntityDescription(
         key="volume_today",
+        name="Volume Today",
         value_fn=lambda x, y: x.data[y]["volume"][0],
         entity_registry_enabled_default=False,
     ),
     KrakenSensorEntityDescription(
         key="volume_last_24h",
+        name="Volume last 24h",
         value_fn=lambda x, y: x.data[y]["volume"][1],
         entity_registry_enabled_default=False,
     ),
     KrakenSensorEntityDescription(
         key="volume_weighted_average_today",
+        name="Volume weighted average today",
         value_fn=lambda x, y: x.data[y]["volume_weighted_average"][0],
         entity_registry_enabled_default=False,
     ),
     KrakenSensorEntityDescription(
         key="volume_weighted_average_last_24h",
+        name="Volume weighted average last 24h",
         value_fn=lambda x, y: x.data[y]["volume_weighted_average"][1],
         entity_registry_enabled_default=False,
     ),
     KrakenSensorEntityDescription(
         key="number_of_trades_today",
+        name="Number of trades today",
         value_fn=lambda x, y: x.data[y]["number_of_trades"][0],
         entity_registry_enabled_default=False,
     ),
     KrakenSensorEntityDescription(
         key="number_of_trades_last_24h",
+        name="Number of trades last 24h",
         value_fn=lambda x, y: x.data[y]["number_of_trades"][1],
         entity_registry_enabled_default=False,
     ),
     KrakenSensorEntityDescription(
         key="last_trade_closed",
+        name="Last trade closed",
         value_fn=lambda x, y: x.data[y]["last_trade_closed"][0],
         entity_registry_enabled_default=False,
     ),
     KrakenSensorEntityDescription(
         key="low_today",
+        name="Low today",
         value_fn=lambda x, y: x.data[y]["low"][0],
     ),
     KrakenSensorEntityDescription(
         key="low_last_24h",
+        name="Low last 24h",
         value_fn=lambda x, y: x.data[y]["low"][1],
         entity_registry_enabled_default=False,
     ),
     KrakenSensorEntityDescription(
         key="high_today",
+        name="High today",
         value_fn=lambda x, y: x.data[y]["high"][0],
     ),
     KrakenSensorEntityDescription(
         key="high_last_24h",
+        name="High last 24h",
         value_fn=lambda x, y: x.data[y]["high"][1],
         entity_registry_enabled_default=False,
     ),
     KrakenSensorEntityDescription(
         key="opening_price_today",
+        name="Opening price today",
         value_fn=lambda x, y: x.data[y]["opening_price"],
         entity_registry_enabled_default=False,
     ),
diff --git a/homeassistant/components/kraken/sensor.py b/homeassistant/components/kraken/sensor.py
index f98a48d8dc3..d37ecfea889 100644
--- a/homeassistant/components/kraken/sensor.py
+++ b/homeassistant/components/kraken/sensor.py
@@ -109,19 +109,17 @@ class KrakenSensor(
         self.tracked_asset_pair_wsname = kraken_data.tradable_asset_pairs[
             tracked_asset_pair
         ]
-        source_asset = tracked_asset_pair.split("/")[0]
         self._target_asset = tracked_asset_pair.split("/")[1]
         if "number_of" not in description.key:
             self._attr_native_unit_of_measurement = self._target_asset
-        self._device_name = f"{source_asset} {self._target_asset}"
-        self._attr_name = "_".join(
+        self._device_name = create_device_name(tracked_asset_pair)
+        self._attr_unique_id = "_".join(
             [
                 tracked_asset_pair.split("/")[0],
                 tracked_asset_pair.split("/")[1],
                 description.key,
             ]
-        )
-        self._attr_unique_id = self._attr_name.lower()
+        ).lower()
         self._received_data_at_least_once = False
         self._available = True
         self._attr_state_class = SensorStateClass.MEASUREMENT
@@ -129,10 +127,11 @@ class KrakenSensor(
         self._attr_device_info = DeviceInfo(
             configuration_url="https://www.kraken.com/",
             entry_type=device_registry.DeviceEntryType.SERVICE,
-            identifiers={(DOMAIN, f"{source_asset}_{self._target_asset}")},
+            identifiers={(DOMAIN, "_".join(self._device_name.split(" ")))},
             manufacturer="Kraken.com",
             name=self._device_name,
         )
+        self._attr_has_entity_name = True
 
     async def async_added_to_hass(self) -> None:
         """Handle entity which will be added."""