Kraken joined other exchanges that took advantage of the hype surrounding the increased demand for popular cryptocurrencies from retail investors.
O announcement from Kraken, it was published yesterday, November 29, Monday, that Exchange revealed that from November 30, users would be able to add SHIB to their accounts.
The decision to list SHIB was taken on Nov. 1, where Exchange Leader Brian Hoffman posted a tweet saying that when his post reached 2,000 likes Exchange would list SHIB the next day. Although the tweet hit the target within minutes, the coin was not listed the next day as Kraken revealed that “more work” had to be done as they had to go through the token list review process before the coin could be listed.
According to the Exchange, users will be able to trade the token with a pair in US dollars and the euro. The minimum trading is 50,000 SHIB, while the minimum deposit volume is 373,000 SHIB. Price accuracy and quantity accuracy are to 8 decimal places and 5 decimal places, respectively. As for futures and margin trading, Kraken revealed that they won’t be available in today’s release.
Some early Exchanges like Crypto.com listed the token in May, eToro following suit in July, popular Coinbase also added SHIB to its list of supported tokens. Gemine and Public listed the currency paired on Ethereum earlier this month, Binance and FTX also supported SHIB. The one going into the main Exchanges hand account is Robinhood, Shiba Inu supporters started a petition on Change.org to get the Exchange to list the currency. The petition currently has more than 500,000 signatures. It remains to be seen how Robinhood will respond to this. Exchange chief operating officer Christine Brown said her “strategy is different from many other players who are rushing to list as many assets as possible right now.”
Inspired by the Dogecoin memecoin, Shiba Inu was created in August 2000. It ranks 11th in market capitalization, according to data from CoinMarketCap. At the time of this writing, SHIB had risen 35% in the past 24 hours.