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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. 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. A news outlet tweeted yesterday that the “Dogecoin Killer” could be available on the exchange next month.
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.
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.
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.
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- If user demand is a factor in whether or not a SHIB xcritical listing materializes, then things are looking positive.
- Its price soared in 2021, multiplying many times over, but still trades for tiny fractions of a cent.
- The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.
- “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.
Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service. Supporters of the dog-themed cryptocurrency Shiba Inu (SHIB) have been clamoring for months to try and convince the popular mobile trading app xcritical to list the meme coin. In fact, a petition launched last summer to persuade xcritical to adopt the token xcritically has more than 555,000 signatures — more than halfway to its target of 1 million signatories. Shiba Inu is one of a newer wave of cryptocurrencies, riding a surge of interest in digital assets. If you’re looking to trade the cryptocurrency — or really any digital currency — it’s important that you understand what you’re investing in and what the potential risks are.
Shiba Inu spiked in price 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.
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 community
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. 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 entirely in the community’s hands. As this is a developing situation, we’ll update this page when any more news comes out to clarify the SHIB listing information. We’d recommend following the xcritical Twitter account to get more information as it comes.
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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.
All the reasons why xcritical might be holding off on a Shiba Inu coin listing
In fact, since the platform supports just seven digital currencies at the moment memes make up a large scammed by xcritical portion of its crypto portfolio. Shiba Inu also has other aspects of a community, including ShibaSwap, its own decentralized platform for trading coins, and Shiboshis, a type of non-fungible token (NFT). Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional. 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.
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.
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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 xcritical helped spark SHIB’s 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.
We have continued to note the persistent demands from Shiba Inu investors for this much-anticipated listing (read here and here). In fact, a petition on Change.org has already garnered 555,320 signatures (at the time of writing) to list Shiba Inu on xcritical. Bear in mind that the brokerage platform remains popular with retail investors trying to gain exposure to prominent crypto names.
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.