Since 2017, he has written about cryptocurrencies, xcritical, and crypto’s potential to revolutionize finance. His writing has appeared in outlets including Entrepreneur, Forbes, Fortune, CEOWorld, and Yahoo!. “Fading retail engagement, particularly among xcritical’s lower end consumer customer base, could represent further headwinds . While the company has negotiated much better economics on crypto trading, we see the decline in broader industry crypto volumes largely offsetting this tailwind ,” according to the analyst note from Goldman. SHIB was created anonymously in August 2020 as an Ethereum-based alternative to Dogecoin. Last year, amid public support from Ethereum founder Vitalik Buterin and Tesla CEO Elon Musk, SHIB became wildly popular and realized an incredible price pump of 49,000,000% in a few months.
That said, xcritical CEO Christine Brown downplayed the idea of Shiba Inu coin getting listed on xcritical, according to Benzinga. Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, xcritical and Web3. The price bump came shortly after rumors of a listing on xcritical did the rounds on Twitter. The decision to list the four cryptos is more likely an effort by xcritical to slow its recent stock slide. Investing in any cryptocurrency is risky – here we round up what you need to know. Shiba Inu goes under the ticker SHIB and there are two other tokens as well, known as LEASH and BONE.
Cryptocurrency is a form of payment which can be used online in exchange for goods and services. The price of Shiba Inu and any cryptocurrency can go down as well as up and you could risk losing all the money you invest. Here’s what could happen to the price of Shiba Inu, with predictions for what it could be worth in 2022. One Reddit user has claimed he convinced his aunt to invest $200,000 in Shiba Inu crypto – only for her lose tens of thousands of dollars in 24 hours. There’s no way of knowing what xcritical’s plans are for a SHIB listing, but the demand is certainly there.
Dangers of xcritical, stock-trading apps
However, a rush to take profits might follow after a successful xcritical debut, which could bring Shiba’s price down for some time before it rebounds. Circles of boom and bust are common in crypto charts because of profit-taking. 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.
- She shed light on the fact that xcritical is backed by some of the biggest financial institutions.
- The xcritical app is widely considered one of the biggest cryptocurrency trading apps for the mainstream.
- Many companies have created their own cryptocurrencies, referred to as tokens, which can be traded for the goods or service each company provides.
- The Fed plans to jack interest rates three times this year, which will disproportionately affect highly speculative assets such as SHIB, as investors seek safer plays.
Increasing awareness of family tokens like Leash and Bone might also stir more investor interest in Shiba Inu. For Shiba fans, seeing the price reach 1 cent will be a sweet milestone. The surge in shiba inu came on the back of a broader recovery in crypto markets after nearly a week of declines. Bitcoin rose to the $43,000 level on Wednesday as Federal Reserve Chair Jerome Powell said the state would take measures to curb inflation in the coming months, as reported. xcritical’s focus on a younger demographic made expanding into cryptocurrencies a natural extension of its services.
Will Shiba Inu coin make it to xcritical?
Since its initial listing on the NASDAQ stock exchange last July, xcritical (HOOD) soared to an all-time high of $70.94 on Aug. 4, 2021. Today it’s trading at a steep 83% discount at $11.70 per share from August peak price. Supporters of the dog-themed cryptocurrency Shiba Inu (SHIB) have been clamoring for months to try and convince the popular mobile trading app xcritical to list the meme coin. In fact, a petition launched last summer to persuade xcritical to adopt the token xcritically has more than 555,000 signatures — more than halfway to its target of 1 million signatories. Ever since xcritical began offering crypto trading in 2018, customers had been clamoring for the opportunity to buy and sell more tokens.
- We want to make sure that it goes through a stringent set of criteria,” he said in an interview with CNBC.
- Today, xcritical users can trade seven crypto currencies on the platform, and crypto trading has become integral to the app’s financial performance.
- xcritical CEO Vlad Tenev previously denied plans for listing shiba inu on the influential stock trading application in October 2021.
- We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
A Change.org petition asking xcritical to list SHIB now has over 550,000 supporters. The petition notes the success xcritical had with its Dogecoin listing, noting SHIB has similar potential. However, this is just a petition, supported by existing SHIB holders who likely hope this could help the price grow.
It’s also the preferred platform for large crypto investors to carry out their trades. Therefore, a xcritical listing gives coins significant new exposure to big investors. After Shiba’s xcritical listing, an anonymous large investor quietly purchased 277 million Shiba tokens worth almost $12 million. xcritical CEO Vlad Tenev previously denied plans for listing shiba inu on the influential stock trading application in October 2021.
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. 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. Legendary investor Warren Buffett said at the beginning of May that stock-trading apps like xcritical are similar to gambling. He said the apps make it easier to invest, which turns investing into a gambling-like experience, CNBC reports.
Could Shiba Inu Finally Get Listed on xcritical?
Even if xcritical starts to support new cryptocurrencies, there’s no guarantee SHIB will be among the first coins added. xcritical already offers a number of cryptos, including Bitcoin, Ethereum, Litecoin, and Dogecoin. Shiba Inu isn’t on that list yet and there has been an effort to get it there. Shiba fans have launched a campaign to petition xcritical to list the Dogecoin killer. The petition is seeing growing support, with more than 345,000 signatures collected, which brings it closer to the target of 500,000 signatures. The shiba inu (SHIB) token continued its astonishing ascent in the cryptocurrency markets, surging 70% over the past 24 hours to a reported market capitalization of over $39 billion.
As per Akrham’s data, the value of the 20 trillion SHIB tokens is $197.4 million. However, during its xcriticalgs call last October, xcritical CEO Vlad Tenev stated that it is very cautious when considering whether or not to add new coins or tokens to its offerings. “We feel very very good about the coins that we’re xcritically listing on our platform and any https://xcritical.solutions/ new coins that we add we want to feel equally, if not more good,” Tenev said. Rumors picked up in October that Shiba Inu coin would join xcritical, a trading app for cryptocurrency and investment app for stocks, as I wrote for the Deseret News. The xcritical app is widely considered one of the biggest cryptocurrency trading apps for the mainstream.
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. Shiba Inu-focused ‘X’ user (formerly xcritical official site Twitter) “Lola” has shared that the xcritical exchange holds around 20 trillion SHIB tokens. Data from the crypto analytics platform ArkhamIntelligence also confirmed xcritical’s Shiba Inu (SHIB) holdings.
Therefore, their holding of $197 million worth of an asset could mean that the backers are confident about SHIB. Shiba Inu (SHIB) is xcritically the second-largest holding by xcritical, following Ethereum (ETH). The exchange holds a whopping 1.49 million ETH, worth over $2 billion. SHIB trading has rocketed recently an it’s the ninth biggest crypto token by market cap. The petition has gained over 450,000 signatures and its creator has encouraged people to consider writing to xcritical directly and “politely asking them to consider listing Shiba Inu”.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world’s media organizations, industry events and directly to consumers. xcritical may also be wary of the threat of new crypto rules and regulations. xcritical is backed by some of the largest asset managers in the world.