• Bitstamp Lists Rival Shiba Inu After Rejecting Dogecoin (SHIB)

  • Although the excitement surrounding canine-themed coins has waned, major trading platforms have added Shiba Inu support (SHIB). It has now obtained a listing from Luxembourg-based Bitstamp. In addition to SHIB, the exchange added Perpetual Protocol (PERP), dYdX (DYDX), and Gala (GALA).

    Shiba Inu Bitstamp Lists (SHIB)

    Bitstamp will allow users to trade SHIB against the US dollar and the Euro, i.e., SHIB/USD and SHIB/EUR, according to the official announcement. The exchange began accepting SHIB deposits and withdrawals on December 8th. Users could place and cancel limit orders the following day.

    Bitstamp will also begin order matching on the same day, and trades will be executed normally. After the order books have accumulated the necessary liquidity, the exchange will allow all order types and card purchases for the most recent crypto trading pairs.

    Bitstamp, founded in 2011, is one of the first cryptocurrency exchanges. It has always prioritized regulatory compliance and is well-known for supporting fewer coins on its platform. As a result, listing SHIB is somewhat significant. While trading platforms such as Binance have listed a number of lesser-known tokens, Bitstamp has largely avoided the altcoin craze.

    It had earlier this year rejected Dogecoin (DOGE) listing claims, citing Tesla CEO Elon Musk’s influence on the crypto-asset. While stating that all tokens listed on Bitstamp must meet strict criteria, the platform’s chief executive Julian Sawyer cited DOGE’s price strongly reacting to the billionaire’s tweets as the reason for not including the original meme-coin.

    SHIB’s Consistent Adoption Curve

    Shiba Inu has become one of the most popular altcoins this year, thanks to a fairly consistent adoption curve. In November, prominent cryptocurrency exchanges Kraken and Gemini added SHIB support.

    It also received a significant boost from retail giant Newegg, which this month added support for the memecoin for payments on its platform. AMC Entertainment, the world’s largest movie theater chain, has also agreed to accept SHIB in the first quarter of 2022.

    Ava Labs’ Avalanche Bridge recently added support for the crypto asset. Users can use this tool to transfer ERC20 tokens from Ethereum (ETH) to Avalanche’s C-Chain and vice versa.

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