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Bitstamp exchange lists Shiba Inu (SHIB)

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on Dec 10, 2021
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  • The SHIB token has been listed on the Bitstamp exchange.
  • This listing comes after the exchange delisted Dogecoin earlier this year.
  • The token is already available for trading through different trading pairs.

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The hype surrounding meme coins might have died down, but this has not prevented Shiba Inu from recording notable price gains. The meme coin is still making major wins against Dogecoin (DOGE/USD), with the recent one being a listing on the Bitstamp exchange.

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The Bitstamp exchange has announced that it has listed the Shiba Inu token. The Luxembourg-based exchange has also listed other tokens such as dYdX (DYDX), Gala (GALA) and Protocol (PERP).

Bitstamp lists Shiba Inu

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The official announcement from the exchange noted that users would now trade SHIB and exchange it with different fiat currencies such as the USD and the Euro. The token will now be available under the trading pairs SHIB/USD and SHIB/EUR.

The deposits and withdrawals for SHIB tokens started on December 8. On December 9, users on the exchange were also permitted to place and cancel limit orders. The exchange has also launched order matching, and trades will be settled instantly.

If enough liquidity is gathered, the exchange also plans to launch other order types and card purchases. These order types will be available for all the latest crypto trading pairs.

The Bitstamp exchange was launched in 2011, and it stands as one of the oldest cryptocurrency exchange platforms. The exchange is among the few that are big on compliance. It has listed fewer coins than most exchanges because of compliance.

The listing of Shiba Inu on Bitstamp is unexpected, given that the exchange stays away from the altcoin hype. Unlike exchanges such as Binance that have listed tokens that are not popular in the market, Bitstamp has chosen to stay away from lesser-known coins.

Earlier this year, Bitstamp delisted Dogecoin because of Elon Musk’s influence on the token prices. The exchange stated that the Tesla CEO was influencing the token prices. Moreover, the exchange stated that tokens listed on the exchange needed to meet certain criteria.

The chief executive of the exchange, Julian Sawyer, stated that the price of Dogecoin was reacting strongly to the tweets made by Musk. Therefore, it noted that this token could no longer be listed on the exchange.

Shiba Inu is making major wins

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The Shiba Inu token has been recording major wins in recent months. Since September, the token has made a notable bullish rally, seeing an increased number of holders.

Despite the recession happening in the market, the number of SHIB holders has continued to grow in recent weeks. Currently, the number of people who hold Shiba Inu tokens is more than one million, a notable increase.

Moreover, the token is still gaining adoption as a means of payment. After finding its way into AMC Entertainment, the leading movie theatre chain globally, Shiba Inu was also recently added to Travala.com.

The addition of SHIB on Travala.com is a notable gain because the token will be available as payment in the millions of hotels available on the platform. SHIB will also be used to buy airline tokens on the platform.

Besides Bitstamp, the token has also been listed on other leading exchanges such as Kraken.

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