#SHIB #shibainu #shibainucoin
It is not unusual to see crypto-projects climb in the market during a bull run, only to be dumped a few weeks later. There are plenty of examples in the space, but right now, none is more popular than Dogecoin-killer, Shiba Inu, whose popularity will only get bigger with its upcoming, inevitable Robinhood listing. Rising to prominence towards the beginning of May, within a day of its release, the asset was listed across multiple exchanges including Binance, Huobi Global, and Crypto dot com. At that time, little did we know, that the market was gearing up for a massive crash, however, and liquidity was going to get wiped out of several assets. In fact, Shiba has declined by 87% since hitting a high of $0.00005 on 10 May. But the real question is, What did Robinhood reply to the Shiba Inu petition? And is the Shiba token really dead?
Shib & Robinhood.
The petition has already been signed by 127,000 people, quite a significant number. Before we talk about Robinhood’s response, for those who don’t know The petition says. This petition is designed to kindly request Robinhood to please list Shiba Inu coin to trade. Dogecoin has been a huge success for Robinhood, and its investors. We have all enjoyed the ride. Shiba Inu is a similar meme coin with genuine potential, up 2000% in the last weeks! Gaining new ground by the day. Shiba has just been listed on Binance, and its momentum grows by the hour. Half the questions when we log into trading forums ask How can I buy Shiba!? Let’s encourage Robinhood to be the first traditional brokerage to get on this train! Thank you. In response to this petition, robin hood just confirmed that they are currently in the process of updating their entire exchange to allow for more cryptos and a secure wallet that can be used for spending, pointing to a huge number of first-time crypto traders this year. robin hood says it’s prioritizing the growth of its crypto offering, not only is it hiring and investing heavily in its cryptocurrency offering but it also plans to launch a wallet with deposit and withdrawal functionality. With this response and Shiba Inu being the second-highest viewed crypto on coin market cap, it is only a matter of time for Robinhood to list the dog bred token, and could be safe to say that it is coming to Robinhood. Also, with the Shibaswap exchange being on the brink of its release date, the rise in its popularity from the decentralized exchange being released may cause Robinhood to list the Shiba Inu coin sooner than planned.
Why is Robinhood delaying Crypto listings?
The Menlo Park, California-based online brokerage added cryptocurrency trading features to its platform in 2018. But that business has only recently taken off. In February, Robinhood revealed it had added 6 million crypto customers in less than two months, though it declined to share the total number of customers trading crypto on the platform. In 2020, the monthly average of new customers trading on Robinhood Crypto was approximately 200,000. Users can buy bitcoin, ethereum, and a handful of other cryptocurrencies but can’t transfer coins to and from their accounts. In February, the company said it intends to provide the ability to deposit and withdraw cryptocurrencies, including the popular meme coin Dogecoin, in the future. In the video, Tenev said his team had hesitated to launch cryptocurrency trading without those capabilities. The reason I think we ultimately decided to do it is there is a use case for people that don’t want to manage their own coins and just want to treat it as an investment, said Tenev. That said, we want to give people the option to manage their own wallets and keys for sure. Cryptocurrency wallets keep users’ private keys, essentially passwords that give users access to their crypto, and allow them to send and receive bitcoin and other digital assets. They come in various forms including hardware devices and mobile apps.
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