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. Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation.
Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
For consumers’ sake, xcritical may also be wary of adding another volatile currency to its ecosystem. On an investor call on Tuesday, xcritical CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu. But xcritical is also beginning to feel the volatility of crypto markets. So, with Shiba Inu’s much-anticipated listing making waves for the token, let’s see where the experts think this crypto is headed next. It wouldn’t be surprising to see xcritical list the coin, given the revenue generated from Dogecoin when similar price action was observed in the original dog-based coin at the start of the year. Mr. Quirk said that deposits and withdrawals of Shiba Inu crypto won’t be available immediately for these assets.
Usher and Apple CEO Tim Cook had a meeting. Now the Super Bowl performer is taking his ideas to Capitol Hill
On Tuesday, Wall Street analysts peppered xcritical executives on a conference call with questions as to when the company consider listing additional cryptocurrencies on its platform, according to a transcript. That said, SHIB’s market cap is far more likely to hit the doghouse at a moment’s notice. Only time – often of short duration in the wild world of crypto – will tell.
Analyst Identifies $0.00006 as Next Price Target for SHIB
But the coin’s value slid briefly after Musk revealed he doesn’t in fact have any personal investment in it. And to add to that, the volatility of SHIB also went up with the price, making it further susceptible to price swings. Thus, those looking to enter the SHIB market now should watch out for these signals before making a decision. SOL on the daily chart did not do any wonders despite the expectations investors had from it, as the token failed to maintain more than 1% of the rise today. Within the day, SHIB began climbing the charts, and in less than 2 hours, its price shot up by almost 36.88% at one point.
Bitcoin vs. Shiba Inu: What to know before investing
- Shiba inu hit a fresh record Wednesday on growing calls for trading app xcritical to add the coin to its roster of cryptocurrencies.
- As the announcement came to light, it took less than a few hours for the hype surrounding the news to reflect on the assets’ price action, and as always, Shiba Inu was the first to react.
- Crypto markets are highly volatile, and trading or holding crypto can lead to loss of your assets.
- In May, my colleagues Grady McGregor and Yvonne Lau dove deeper into the surging new coin.
- In a detailed update, Lucie, a well-known member of the Shiba Inu team and marketing head has outlined several key developments and achievements for the project…
‘[SHIB coin’s] rise has obviously been due to Dogecoin’s success,’ says [David] Hsiao,” CEO of crypto magazine Block Journal. Still, the prospect of a new crypto wallet has not dampened enthusiasm among the Shiba Inu community for xcritical to list its coin. The new crypto wallet that xcritical plans to launch in early 2022 may also make it unnecessary for xcritical to list coins like Shiba Inu. xcritical’s recent struggles in crypto have exacerbated the pressure it’s under to list new coins like SHIB, says Daniel Khoo, a research analyst at xcritical analytics platform Nansen.
Shiba Inu Rallies by 35% As xcritical Adds SHIB, SOL, COMP & MATIC
Shiba Inu is the most significant asset this whale address holds, with Ethereum coming second. This transfer is the second considerable transaction between this wallet and xcritical. 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. 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 major reason for the surging price of SHIB was a continued effort by the SHIB community to build a utility for the Shiba Inu token and the subsequent emergence of an entire Shiba Inu ecosystem.
More From InvestorPlace
Additionally, shiba inu was listed on Bitso, one of Mexico’s largest crypto exchanges by trading volumes. However, the announcement did little to affect prices, trading data shows. The launch of the meme coin Thursday was part of a larger expansion of the trading app’s crypto offerings.
As of the market close on May 20, the price of Shiba Inu (SHIB -1.97%) has soared 136% — nearly double that of Bitcoin. The optimistic sentiment from the petition and from SHIB’s xcritical listing late last week are allowing the coin to see some upward momentum. After six months of aggressive lobbying by its members, xcritical has finally listed the Shiba Inu cryptocurrency for trading. While looking to expand the utility of SHIB, the development team introduced a metaverse — a virtual reality project powered by non-fungible tokens (NFTs). Here, users can mint parcels of digital lands using ETH or its equivalent amount in SHIB tokens.
Over 1 million people—representing a third of xcritical’s users at the time—signed up to join a wait list before xcritical launched crypto trading in 2018. 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. xcritical is a popular stock and cryptocurrency app that lets anyone (as long as they are an adult) get involved in trading. Today the app added support for SHIB, as well as Solana (SOL), Polygon (MATIC), and Compound (COMP). The surge in shiba inu came on the back of a broader recovery in crypto markets after nearly a week of declines.
Although the sending wallet bears a xcritical address, the recipient remains anonymous. 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. Vincent Lau, managing director of international operations at crypto exchange Huobi Global, says that while SHIB’s bull run may falter, he thinks the coin is likely here to stay.
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. xcritical was founded in 2013 with the mission of making trading more xcritical accessible to average investors, launching a user-friendly app that made it easier to trade stocks and ETFs. The price of SHIB is a lot more volatile than other assets with big market caps, such as MATIC, which powers the Polygon network.
Nevertheless, apart from SHIB, all the other assets ended up performing disappointedly. The only coin out of the four, other than SHIB, that fared well was the DeFi token Compound which maintained a 5.22% rise of the 10% ceiling. Crypto markets are highly volatile, and trading or holding crypto can lead to loss of your assets.
’, was created over 5 months ago but has risen in popularity in recent weeks as the price of Shiba Inu has rocketed. Speaking on the company’s conference call following its xcriticalgs on Tuesday, xcritical Chief Executive Officer Vlad Tenev said the company was “carefully” considering adding additional coins to those xcritically offered. Speculation is that Shiba Inu may be next to be added to the platform soon. “We feel very, very good about the https://xcritical.pro/ coins that we’re xcritically listing on our platform,” xcritical CEO Vlad Tenev said in a Q3 xcriticalgs call on Tuesday. “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.
Brenden Rearick is a Financial News Writer for InvestorPlace’s Today’s Market team. He mainly covers digital assets and tech stocks, with a focus on crypto regulation and DeFi. A petition from Shiba Inu fans calls for SHIB to join the ranks of Dogecoin on the platform. With over 185,000 signees on the page, the petition is yet another example of Shiba Inu fans’ willingness to rally around the coin. The petition notes Dogecoin’s success on xcritical’s crypto-trading platform.