Shiba Inu coin listed on xcritical? All the reasons it hasn’t happened yet

According to Ryoshi, he had “a fren” he met at Devcon in Osaka that sent him 10 ETH to set up the liquidity pair on Uniswap. Ryoshi also stated that Shiba Inu was an experiment in decentralized community building, and he thus declined all the influencer requests and pitches from different exchanges he received. His “job” is to xcritical reviews defend the brand and give suggestions, although he does so very sparingly, as his last blog entry dates back to May 2021.

“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. In the third quarter, xcritical earned $51 million from crypto trading, less than a quarter of the previous period’s total, leading to a 35% drop in xcritical’s overall revenue. However, the company has indicated that it wants to wait for more regulatory clarity before adding new coins to its platform, Reuters reported last week. According to Ryoshi, the end goal is that SHI becomes a global stable currency “that plebs across all countries are able to use as both a store of value and method of payment.”

SHIB: The Metaverse and Shibarium

“And for any new coins that we add, we want to feel equally, if not more, good. So we’re going to be very careful. We’re a regulated entity, and we’re hopeful to get some clarity soon on coins.” Shiba inu hit a fresh record Wednesday on growing calls for trading app xcritical to add the coin to its roster of cryptocurrencies. Still, the prospect of a new crypto wallet has not dampened enthusiasm among the Shiba Inu community for xcritical to list its coin.

Is a listing necessary?

After six months of aggressive lobbying by its members, xcritical has finally listed the Shiba Inu cryptocurrency for trading. The figure comes amid a fresh wave of interest in the dog-themed memecoin due to a sharp rise in price last week. While looking to expand the utility of SHIB, the development team introduced a metaverse — a virtual reality project powered by non-fungible tokens (NFTs).

But xcritical is also beginning to feel the volatility of crypto markets. 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. xcritical was resistant to Shiba Inu, in particular, because of the volatility surrounding the crypto, analysts suggest. Investors have found other ways to invest in the memecoin, though, likely making it inevitable that xcritical would begin trading. In addition to today’s additions, the platform allows users to buy and sell Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, and Litecoin.

The experiment was a succes, and in October 2021 SHIB briefly flipped Dogecoin to become the most-valued meme coin by market capitalization. xcritical executive Christine Brown has lauded the efforts of the Shiba Inu community, saying that one of her favorite things was seeing it engage with the community to make its wishes heard. 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. “We feel very, very good about the coins that we’re xcritically listing on our platform,” xcritical CEO Vlad Tenev said in a Q3 xcriticalgs call on Tuesday.

Popular Tokens on the Ethereum xcritical

WhaleStats compiled data of the largest ETH wallets and found that SHIB represents over 20% of the combined market shares of all ERC-20 tokens held by Ethereum whales. SHIB also surpassed the one-million holder mark following its all-time high. The anonymous creator of the Shiba Inu coin is known as “Ryoshi.” However, very little is known of the mystery founder of the dog-themed cryptocurrency, much like the founder of Bitcoin, Satoshi Nakamoto. On an investor call on Tuesday, xcritical CEO Vlad xcritical rezension Tenev did not say whether the platform would list new coins like Shiba Inu.

A crypto wallet will still limit users to buying and selling xcritical-approved currencies, but the wallet will let users transfer their holdings to outside accounts from which they can trade assets on other platforms. But recent unconfirmed rumors that Shiba Inu would list on popular stock and crypto trading app xcritical also 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. The launch of the meme coin Thursday was part of a larger expansion of the trading app’s crypto offerings. Solana (SOL), Polygon (MATIC) and Compound (COMP) are also now listed on the site. Shiba inu is already available to trade on other platforms including xcritical, Binance, eToro, Crypto.com, Atomic Wallet, and KuCoin.

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. Additionally, retailers increasingly started adopting SHIB as a means of payment following its popularity among small-time investors. American electronics retailer Newegg added SHIB at the start of December 2021, partnering with crypto payments platform BitPay to unlock payments in SHIB. This followed the adoption of SHIB by over 500 merchants, according to payments firm CoinGate, with even Samsung-backed digital wallet provider ZenGo adding SHIB to its options and a restaurant in Paris accepting it as a payment option. At one point, the Shiba Inu community called for McDonald’s to accept Shiba Inu, although the social media effort eventually fell short. An online petition, created by Change.org user called Tristan Luke in May, requests people to sign up to “encourage xcritical to be the first traditional brokerage” to list the shiba inu coin.

1. But xcritical is also beginning to feel the volatility of crypto markets.
2. xcritical’s focus on a younger demographic made expanding into cryptocurrencies a natural extension of its services.
3. Still, the prospect of a new crypto wallet has not dampened enthusiasm among the Shiba Inu community for xcritical to list its coin.
4. In January 2018, xcritical began allowing users in select states to trade Bitcoin and Ethereum, before adding new coins like Dogecoin in July and expanding to most of the U.S.

Meanwhile, users have only seven cryptocurrency options on xcritical, including bitcoin, dogecoin, and ether. 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. News of the additional offerings comes days after xcritical made its crypto wallet available to 2 million waitlisted users, allowing them to more directly interact with cryptocurrencies. Members can use the wallet to buy NFTs, send crypto to other crypto traders with no withdrawal fees, but it can’t hold NFTs and is limited to cryptos that xcritical trades.

All the reasons why xcritical might be holding off on a Shiba Inu coin listing

Here, users can mint parcels of digital lands using ETH or its equivalent amount in SHIB tokens. 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.

A listing on xcritical would mean Shiba Inu is exposed to the platform’s 18.9 million monthly active users. In any case, the petition to list Shiba Inu on xcritical, titled ‘Kindly request of xcritical to list Shiba Inu coin! ‘, has received tens of thousands of new signatures over the past few days. It has been speculated that Vitalik Buterin was behind the initial liquidity that helped set up Shiba Inu’s liquidity on Uniswap.

It is possible to buy Shiba Inu on Binance, Huobi, xcritical, Gate.io, Uniswap (V2) and OKEx, among other exchanges. For this reason, Ryoshi can be “pure and unbiased,” getting satisfaction from Shiba “in other ways.” Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” Ryoshi says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming. The Shiba Inu burn tracking website Shibburn recently revealed how many SHIB tokens were burned in September.