Shiba Inu’s adoption grows as another major exchange of cryptocurrencies announces support – this time, it was Bitstamp
The excitement behind the canine themed currencies may have subsided, but that hasn’t stopped prominent trading venues from adding support for Shiba Inu (SHIB). Now he has managed to get a list from Bitstamp based in Luxembourg. In addition to SHIB, the exchange also added, Perpetual Protocol (PERP), dYdX (DYDX) and Gala (GALA).
According to announcement Officially, Bitstamp will allow its users to trade SHIB against the US dollar and the euro, that is, SHIB/USD and SHIB/EUR. On December 8th, the exchange started deposits and withdrawals for SHIB. The next day, users were able to place and cancel orders with a limit.
On the same day, Bitstamp will also start combining orders and trades will be executed normally. Once the order books gather the necessary liquidity, the exchange will facilitate all types of ordering and card purchases for the latest cryptoactive trading pairs.
Launched in 2011, Bitstamp is one of the oldest cryptocurrency exchanges. It has always focused on regulatory compliance and is known for supporting fewer currencies on its platform. Consequently, listing SHIB is big business. While trading platforms like Binance have listed several lesser-known tokens, Bitstamp, on the other hand, has steered clear of the altcoin craze.
Earlier this year, she rejected Dogecoin (DOGE) listing claims, citing Tesla boss Elon Musk’s influence on cryptoactive. In asserting that all tokens listed on Bitstamp must meet strict criteria, the platform’s chief executive, Julian Sawyer, described the price of DOGE, reacting strongly to the billionaire’s tweets as the reason not to add the OG meme currency.
Constant SHIB Adoption Curve
Shiba Inu has emerged as one of the most popular altcoins this year, due to a fairly consistent adoption curve. The prominent cryptocurrency exchanges, Kraken and Gemini, added support for SHIB in November.
It also got a big boost from retail giant Newegg, which extended support for memecoin for payments on its platform this month. The world’s largest film exhibition company, AMC Entertainment, also agreed to accept SHIB in the first quarter of 2022.
More recently, Ava Labs’ Avalanche Bridge announced support for the cryptoactive. This tool essentially allows users to transfer ERC20 tokens from Ethereum (ETH) to Avalanche C-Chain and vice versa.