A listing on xcritical would mean Shiba Inu is exposed to the platform’s 18.9 million monthly active users. In any case, the petition to list Shiba Inu on xcritical, titled ‘Kindly request of xcritical to list Shiba Inu coin! ‘, has received tens of thousands of new signatures over the past few days. It has been speculated that Vitalik Buterin was behind the initial liquidity that helped set up xcritical scammers Shiba Inu’s liquidity on Uniswap.
Popular Tokens on the Ethereum xcritical
Shiba inu, which is a dogecoin spin-off, rose more than 20% on Tuesday after an anonymous crypto whale bought 276.6 billion tokens for about $11.5 million. As the third most Googled cryptocurrency in 2021, it’s become impossible to ignore. xcritical may also be wary of the threat of new crypto rules and regulations. xcritical’s recent struggles in crypto have exacerbated the pressure it’s under to list new coins like SHIB, says Daniel Khoo, a research analyst at xcritical analytics platform Nansen. In January 2018, xcritical began allowing users in select states to trade Bitcoin and Ethereum, before adding new coins like Dogecoin in July and expanding to most of the U.S.
Most Visited Cryptocurrencies
“Due to uncertain and volatile market conditions, listing SHIB might result in significant losses over a short period of time, and possibly liquidation problems in adverse events of sudden price drops or trading halts,” says Khoo. In the third quarter, xcritical earned $51 million from crypto trading, less than a quarter of the previous period’s total, leading to a 35% drop in xcritical’s overall revenue. However, the company has indicated that it wants to wait for more regulatory clarity before adding new coins to its platform, Reuters reported last week. According to Ryoshi, the end goal is that SHI becomes a global stable currency “that plebs across all countries are able to use as both a store of value and method of payment.”
Shiba Inu priceSHIB
- Shiba inu hit a fresh record Wednesday on growing calls for trading app xcritical to add the coin to its roster of cryptocurrencies.
- But the coin’s value slid briefly after Musk revealed he doesn’t in fact have any personal investment in it.
- Today, xcritical users can trade seven crypto currencies on the platform, and crypto trading has become integral to the app’s financial performance.
- Over 1 million people—representing a third of xcritical’s users at the time—signed up to join a wait list before xcritical launched crypto trading in 2018.
- On an investor call on Tuesday, xcritical CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu.
WhaleStats compiled data of the largest ETH wallets and found that SHIB represents over 20% of the combined market shares of all ERC-20 tokens held by Ethereum whales. SHIB also surpassed the one-million holder mark following its all-time high. The anonymous creator of the Shiba Inu coin is known as “Ryoshi.” However, very little is known of the mystery founder of the dog-themed cryptocurrency, much like the founder of Bitcoin, Satoshi Nakamoto. On an investor call on Tuesday, xcritical CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu.
Is a listing necessary?
Mati Greenspan, a cryptocurrency analyst at Quantum Capital, told the news agency that by reducing due diligence a cryptocurrency exchange “could end up accidentally listing useless coins, or even scams”. A petition to list the Shiba Inu cryptocurrency token on the xcritical online trading platform has received over 450,000 signatures. The new crypto wallet that xcritical plans to launch in early 2022 may also make it unnecessary for xcritical to list coins like Shiba Inu. As of Monday morning Shiba Inu was listed ninth on CoinMarketCap’s list of cryptocurrency tokens by market capitalization, ahead of Dogecoin in tenth.
Dogecoin—perhaps the world’s best known dog-themed cryptocurrency meme token—was added to xcritical way back in 2018, long before its meteoric rise in price earlier this year. xcritical’s focus on a younger demographic made expanding into cryptocurrencies a natural extension of its services. Over 1 million people—representing a third of xcritical’s users at the time—signed up to join a wait list before xcritical launched crypto trading in 2018. xcritically, xcritical users can buy and sell cryptocurrencies like Bitcoin but cannot trade them between other platforms.
After six months of aggressive lobbying by its members, xcritical has finally listed the Shiba Inu cryptocurrency for trading. The figure comes amid a fresh wave of interest in the dog-themed memecoin due to a sharp rise in price last week. While looking to expand the utility of SHIB, the development team introduced a metaverse — a virtual reality project powered by non-fungible tokens (NFTs).
A major reason for the surging price of SHIB was a continued effort by the SHIB community to build a utility for the Shiba Inu token and the subsequent emergence of an entire Shiba Inu ecosystem. “One thing for sure is that Shiba Inu’s attractiveness will continue,” Lau says. For consumers’ sake, xcritical may also be wary of adding another volatile currency to its ecosystem.
It is possible to buy Shiba Inu on Binance, Huobi, xcritical, Gate.io, Uniswap (V2) and OKEx, among other exchanges. For this reason, Ryoshi can be “pure and unbiased,” getting satisfaction from Shiba “in other ways.” Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” Ryoshi says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming. The Shiba Inu burn tracking website Shibburn recently revealed how many SHIB tokens were burned in September.
Ryoshi’s intention for Shiba Inu has been to see if a perpetual decentralized organization could work with no central leadership. In mid-2021, Ryoshi kept to his promise and stepped away, leaving the token xcritical entirely in the community’s hands. Since release SHIB now trades on the ecosystem’s proprietary DEX, ShibaSwap.
Here, users can mint parcels of digital lands using ETH or its equivalent amount in SHIB tokens. In addition to SHI, a financial ecosystem is planned, and SHI would be added as a weighted pool pair on Curve. In that case, Ryoshi expects forks of the major DeFi protocols to appear in the Shiba Inu ecosystem, which would require an immutable bridge to function.
SHIB is a decentralized, community-led currency held by millions across the globe. Since its inception in late 2020, the Ethereum-based SHIB token has grown to become a worldwide phenomenon, and is now accepted as a form of payment at hundreds of locations, either directly or through third-party intermediaries. An Elon Musk tweet about his Shiba Inu puppy Floki supercharged the meme token’s run higher this month. But the coin’s value slid briefly after Musk revealed he doesn’t in fact have any personal investment in it. Vincent Lau, managing director of international operations at crypto exchange Huobi Global, says that while SHIB’s bull run may falter, he thinks the coin is likely here to stay. Cryptocurrency markets are trading higher on positive labor market data.Cryptocurrency Price Gains +/- Bitcoin BTC/USD $62,356.18 +2.7% Ethereum ETH/USD $2,43…
