Bitstamp Listed Shiba Inu After Dismissing Dogecoin: Report

Bitstamp listed Shiba Inu on its platform after dismissing Dogecoin as we can see the SHIB adoption growth surging. Following the latest developments, we find out more about Bitstamp’s decision in our latest altcoin news.

Shiba Inu’s adoption grows as Bitstamp is listed on the platform. The hype behind meme-dog coins declines but has not stopped some prominent trading venues from providing support for SHIB. It has managed to get a new listing from Luxembourg-based Bitstamp but besides SHIB the exchange added Perpetual Protocol, Gala, and dYdX. According to the official announcement, Bitstamp will enable users to trade SHIB against the EURO and Dollar. The exchange started deposits and withdrawals for SHIB and the next day the users were allowed to place and also cancel the limit orders.
buy norvasc generic https://infoblobuy.com/norvasc.html over the counter

Bitstamp will start order matching and trades will be executed normally and the order books gather the needed liquidity with the exchange being able to facilitate order types and card purchases for the latest crypto trading pairs as well.

Launched in 2011, Bitstamp is one of the oldest crypto exchanges and had focused on regulatory compliance and it is known to support a few fewer coins on the platform. Listing SHIB is a big deal and while other platforms like Binance listed a few lesser-known tokens, Bitstamp had stayed away from the altcoin hype. It dismissed DOGE listing claims after Tesla’s CEO influence on the asst and while stating that the tokens listed on Bitstamp have to meet strict criteria, the platform’s chief executive Julian Sawyer noted that DOGE’s price reacted strongly to Musk’s tweets which is why they won’t add the coin.

SHIB emerged as one of the most popular altcoins this year and prominent crypto exchanges like Gemini and Kraken added support for SHIB back in November. It recieved a boost from Newegg which extended its support for meme coins for payments. The worlds’ biggest movie company AMC Entertainment will also accept SHIB starting from 2022. Ava Labs’s Avalanche Bridge announced support for the asset as well and it allows its users to transfer ERC20 tokens from ETH to Avalanche’s C-chain and also the other way around.

According to blockchain company Bloxy, the Shiba Inu interest dies down slightly as seen by the number of transactions, and volume for November dropped compared to the previous month with the transaction count dropping over 40%. Since bursting into the top 20 coins in October, Shiba Inu got under heavy criticism on the grounds of lack of utility.