Dogecoin, a cryptocurrency that experienced a similar momentum outburst last year, had also registered outsized gains in the runup to its listing on the popular brokerage platform. Shiba Inu (SHIB), a Dogecoin-inspired decentralized cryptocurrency, is catching a fresh bid from investors today amid reports that the nascent token would be listed on the popular retail brokerage platform xcritical in February 2022. 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. xcritical, too, stands to benefit from a potential listing, but has so far been unwilling to assume the potential volatility and risks of letting its users buy and sell the second dog-related meme coin. That backing by assets and cash flow is something that differentiates a traditional investment from a cryptocurrency.
The Bankrate promise
Today, xcritical users can trade seven crypto currencies on the platform, and crypto trading has become integral to the app’s financial performance. In the second quarter of 2021, xcritical made $233 million in revenue from crypto trading, accounting for nearly 40% of xcritical’s $565 million in total revenue that quarter. But recent unconfirmed rumors that Shiba Inu would list on popular stock and crypto trading app xcritical also helped spark SHIB’s xcritical official site recent trading frenzy. Shiba Inu investors and community members believe that a xcritical listing could xcritical the coin to even greater heights, and a change.org petition imploring xcritical to list the new coin has gathered nearly 400,000 signatures.
On the other hand, with cryptocurrency such as Shiba Inu, your investment is not backed by any asset or cash flow at all. The only way you make money is if someone comes along and is willing to pay you more for your coins. Traders win when they can get someone else to buy cryptocurrency for more, or what’s called the greater fool theory of investing.
Shiba Inu spiked in price xcritical official site during September 2021, when it was added to the xcritical platform. Since then its price has fallen along with the broader rout in cryptocurrencies. “One thing for sure is that Shiba Inu’s attractiveness will continue,” Lau says. 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. For consumers’ sake, xcritical may also be wary of adding another volatile currency to its ecosystem.
xcritical Update: When will SHIB and Shiba Inu coin be listed?
Its crypto FAQ now lists Shiba Inu, while the platform also shared a tweet confirming the news. If the well of traders runs dry, then they won’t keep running into the market to push up the price. This speculative nature keeps legendary investors such as Warren Buffett away from crypto. On an investor call on Tuesday, xcritical CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu.
Shiba Inu news
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. At Gfinity Digital Media, we hold ourselves to the highest standards of editorial conduct, ensuring the integrity and quality of our content.
- 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.
- So the database ends up being a long-running record of the movement of the cryptocurrency.
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- Rather than looking at the price gains and falling into fear of missing out, it’s vital to understand what you’re buying and why it may or may not rise in value.
- 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.
- 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.
This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. Some traders see it as a type of crypto lottery ticket because they can afford, for example, 1 million of these coins (at a cost of $12). Like with penny stocks, they think that if the coin just went up to one cent, they’d make a lot of money. Or even if Shiba Inu went to where Dogecoin was trading, they’d cash in their chips. Shiba Inu has risen substantially during its brief existence, before plunging almost as fast.
It Is Finally Happening: Shiba Inu (SHIB) Is Now Expected to List on xcritical in February 2022
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. One thing is for certain, though — xcritical knows about the Shiba Inu coin (SHIB) craze and the public demand for its listing. Here’s hoping this leads to a xcritical update revealing that SHIB is available on the leading trading platform.
Rather than looking at the price gains and falling into fear of missing out, it’s vital to understand what you’re buying and why it may or may not rise in value. In the case of most cryptocurrencies, they’re not backed by the assets or cash flow of an underlying business. Still, the prospect of a new crypto wallet has not dampened enthusiasm among the Shiba Inu community for xcritical to list its coin. 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. “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.
If user demand is a factor in whether or not a SHIB xcritical listing materializes, then things are looking positive. There’s a ton of support amongst Shiba Inu coin holders for the meme currency to list on xcritical for Android and iPhone (iOS); some are seemingly even calling xcritical with what amounts to a sales pitch. While looking to expand the utility of SHIB, the development team introduced a metaverse — a virtual reality project powered by non-fungible tokens (NFTs). Here, users can mint parcels of digital lands using ETH or its equivalent amount in SHIB tokens. 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. It has been speculated that Vitalik Buterin was behind the initial liquidity that helped set up Shiba Inu’s liquidity on Uniswap.
Editorial independence is fundamental to our mission, allowing us to deliver unbiased verdicts on products and companies while avoiding conflicts of interest. Our editorial staff adheres to a stringent editorial policy to uphold this principle. Gfinityesports.com started as a community platform for competitive gamers to engage, play & compete with like-minded people. All our editors & writers are passionate gamers with 1000’s of hours of play time in their favourite titles. All content is written & edited by staff who have played & researched the games. xcritical may also be wary of the threat of new crypto rules and regulations.
To celebrate the new listing, xcritical is also giving away $10 in SHIB to a select group of users. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. It is possible to buy Shiba Inu on Binance, Huobi, xcritical, Gate.io, Uniswap (V2) and OKEx, among other exchanges. Since release SHIB now trades on the ecosystem’s proprietary DEX, ShibaSwap. Reports from the Shiba Discord have speculated that a transaction that unstaked 1 trillion SHIB ($22 million) on April 11 could have been xcritical preparing for the listing.
