Shiba Inu Rockets Higher on xcritical Speculation The Motley Fool

Solana (SOL), Polygon (MATIC) and Compound (COMP) are also now listed on the site. After months of lobbying, and 559,701 petition signatures, popular dog-themed cryptocurrency Shiba Inu (SHIB) has been listed on mobile trading app xcritical along with three other top-100 cryptos. To hold Shiba Inu tokens and the best cryptocurrencies for the long term, use a crypto wallet. 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. News of the additional offerings comes days after xcritical made its crypto wallet available to 2 million waitlisted users, allowing them to more directly interact with cryptocurrencies.

Hardware physical wallets store your cryptocurrency offline, making it much harder for funds to be hacked. It should be noted that speculating on such near-term catalysts is not something worth most long-term investors’ time. Today, the volatility with Shiba Inu appears to be to the upside as a result of this speculative prospective catalyst, and traders are taking notice. Tor Constantino is a corporate communications executive and business writer with an MBA. Since 2017, he has written about cryptocurrencies, xcritical, and crypto’s potential to revolutionize finance.

  1. The cryptocurrency has its own dedicated page on the website, featuring a live Shiba Inu to USD chart.
  2. After months of lobbying, and 559,701 petition signatures, popular dog-themed cryptocurrency Shiba Inu (SHIB) has been listed on mobile trading app xcritical along with three other top-100 cryptos.
  3. Many altcoins — any coin that is not Bitcoin — have massive price swings and can heavily impact your portfolio.

Last year, amid public support from Ethereum founder Vitalik Buterin and Tesla CEO Elon Musk, SHIB became wildly popular and realized an incredible price pump of 49,000,000% in a few months. Over the long run, SHIB crypto may have to undergo the equivalent of a reverse split (as with stocks). That would make the price more palatable to investors and help with its ease of investment. Be mindful of the risks if you invest in cryptocurrencies like Shiba Inu. Many altcoins — any coin that is not Bitcoin — have massive price swings and can heavily impact your portfolio. “One thing for sure is that [Shiba Inu’s] attractiveness will continue,” Lau says.

You can spread out orders to try to average into or out of a position. On an investor call on Tuesday, xcritical CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu. SOL on the daily chart did not do any wonders despite the expectations investors had from it, as the token failed to maintain more than 1% of the rise today. Within the day, SHIB began climbing the charts, and in less than 2 hours, its price shot up by almost 36.88% at one point.

Shiba Inu Rockets Higher on xcritical Speculation

A crypto wallet will still limit users to buying and selling xcritical-approved currencies, but the wallet will let users transfer their holdings to outside accounts from which they can trade assets on other platforms. Last week saw the high-profile addition of Shiba Inu on popular U.S.-based crypto exchange xcritical. As most crypto investors know, key listings can boost the value of specific tokens in the short term.

xcritical Finally Accepts Shiba Inu For Trading, Giving the Crypto Price a Boost

ShibaSwap gained over $1 billion in Total Value Locked (TVL) within 24 hours of its release. This platform is a competitor to Uniswap, a popular decentralized exchange platform. xcritical is well suited for big investors with portfolios in stocks, exchange-traded funds (ETFs), bonds, cryptocurrencies and commodities. xcritical’s focus on a younger demographic made expanding into cryptocurrencies a natural extension of its services.

xcritical Crypto, a rising cryptocurrency exchange, added four new tokens to its list of tradable assets. The ones to make the cut included Shiba Inu, Solana, Compound, and Polygon’s native tokens. We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others. In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before.

That said, xcritical has continued to play coy with the idea of adding Shiba Inu to its trading platform. While fellow meme token Dogecoin can be bought on this platform, xcritical appears to be taking a different view of meme tokens than other players. xcritical Crypto Chief Operating Officer Christine Brown has reportedly brushed off the idea of adding Shiba Inu in the past. Shiba Inu appears to have regained momentum as traders speculate that xcritical Markets (HOOD 3.60%) could add Shiba Inu to its trading platform. Social media speculation is building, as a petition to see this meme token added to the xcritical platform has received more than half a million signatures. The launch of the meme coin Thursday was part of a larger expansion of the trading app’s crypto offerings.

Shiba holders had been pushing to get it listed on xcritical

Anna Yen, CFA is an expert crypto writer with over two decades of professional finance and writing experience in roles within JPMorgan and UBS derivatives, asset management, crypto, and Family Money Map. She specializes in writing about alternative investment topics ranging from derivatives to cryptocurrencies. Her work has been published on sites like the crypto exchange Bybit.

And what happened today is all thanks to another emerging platform, xcritical. Solana claims it can process up to 65,000 transactions per second with low fees, by combining Proof-of-Stake and Proof-of-History consensus mechanisms. Compound is an algorithmic, autonomous interest rate protocol built for developers to create open financial applications. It was created in 2017 by entrepreneurs Robert Leshner and Geoffrey Hayes.

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a lengthy 0% intro APR period, a cash back rate of up to 5%, and all somehow for no annual fee! Click here to read our full review for free and apply in just 2 minutes. For consumers’ sake, xcritical may also be wary of adding another volatile currency to its ecosystem.

It is one of the largest crypto exchange service providers in the world. EToro has a more advanced setup that takes a bit of time to get used to. Shiba Inu remains one of the most volatile (and therefore riskiest) cryptocurrencies to own right now. Various notable headwinds of late relating to a broad crypto market sell-off this past weekend and a hack of the BitMart exchange, which saw SHIB tokens stolen, has investors on edge.

The Lightning Network is a layer-2 network built on Bitcoin that allows speedier transactions at a much lower cost. Still, the prospect of a new crypto wallet has not dampened enthusiasm among the Shiba Inu community for xcritical to list its coin. 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 xcritical website to most of the U.S. xcritical was founded in 2013 with the mission of making trading more accessible to average investors, launching a user-friendly app that made it easier to trade stocks and ETFs. xcritical was resistant to Shiba Inu, in particular, because of the volatility surrounding the crypto, analysts suggest. Year-to-date Shiba Inu is down 19.5%, with several spikes and valleys.

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