International cryptocurrency exchange Bitstamp will be enabling trading US Dollars and Euros in exchange of Shiba Inu cryptocurrency. The move is noteworthy as it adds to the list of brands that are warming up towards the meme-based dog coin that was launched as a Dogecoin copycat. Bitstamp will now allow users to deposit and withdraw funds in Shiba Inu. Presently, SHIB is trading at $0.00003672 (roughly Rs. 0.0028) per token, which is held by 1,044,066 wallets, as per the data on CoinMarketCap.
Supporters of the Shiba Inu mem cryptocurrency, who refer to themselves as the SHIB army, have expressed excitement about this development on Twitter.
sooner or later, all will list #SHIB :rocket::rocket::rocket:
Crypto Exchange Bitstamp Lists Shiba Inu as SHIB Adoption Grows – Altcoins Bitcoin News pic.twitter.com/9LRSxooF8u
— Irene #Ethereum#cryptocurrency (@hukukcufeti_06) December 9, 2021
Earlier this year, US-based movie hall chain AMC Theatres also listed Shiba Inu as a payment option for tickets and goodies purchases.
Around that time, the Shiba Inu coin had registered a 50 percent spike and had emerged as the 11th-biggest cryptocurrency coin by market value, a reported by WatcherGuru had revealed.
In November, two major crypto exchanges, Kraken and Gemini, added support for SHIB.
Bitstamp is also adding dydx (DYDX), gala (GALA), and perpetual protocol (PERP) as trading options on its platform.
Presently, the newly added cryptocurrencies on Bitstamp are open for deposits and withdrawals but their trading is not yet enabled, the crypto exchange wrote in a blog post.
“You will be able to place and cancel limit orders, but they will not be matched. Therefore, no orders will actually be completed during this stage. Order matching will start and trades will be executed normally. However, only limit orders will be available,” the post added.
As soon as the Bitstamp order books gather sufficient liquidity, the company will enable all order types and card purchases for the new trading pairs as well.
Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.