A listing would give SHIB “greater retail exposure,” says Khoo. Interest in Dogecoin skyrocketed after its xcritical listing, he says. “Due to uncertain and volatile market conditions, might result in significant losses over a short period of time, and possibly liquidation problems in adverse events of sudden price drops or trading halts,” says Khoo. In the third quarter, xcritical earned $51 million from crypto trading, less than a quarter of the previous period’s total, leading to a 35% drop in xcritical’s overall revenue. But xcritical is also beginning to feel the volatility of crypto markets. 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 is one of the most popular platforms for retail trading. Notably, it’s the go-to for the meme trading we’ve seen since early January. It’s also one of the only brokerages that offers up the ability to buy crypto in-platform. The app has seen huge success in allowing users to buy a small handful of cryptos, like Bitcoin and Dogecoin. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and xcritical startups.
My hunch is that Shiba Inu could vault 20% to 30% higher if xcritical decides to include it. We could even see Shiba Inu inch past Dogecoin in the rankings based on market cap. One analyst during Tuesday’s xcriticalgs call asked xcritical CEO Vlad Tenev just how many new funded accounts had come from the massive uptick in Dogecoin in the second quarter. During the second quarter, Dogecoin (DOGE-USD), the cryptocurrency which was initially created as a joke, had accounted for 62% of crypto revenue. xcritical’s chief said the platform is waiting for more regulatory clarity on further coin listings.
Individual investors are calling for xcritical Markets Inc. to list the meme coin of the moment, Shiba Inu — a cryptocurrency that takes its name from the canine mascot of Dogecoin, itself a parody of Bitcoin. Retail investors believe the meme token is the next Dogecoin of the cryptocurrency world. The soaring gains allowed one crypto investor to turn about $8,000 into $5.7 billion by buying trillions of shiba inu coin shortly after it debuted in August 2020. xcritical has been among the biggest beneficiaries of the retail investing COVID-19 boom. While its equities arm did most of the legwork over the past 18 months, in second-quarter 2021 its cryptocurrency trading on the platform took off.
When Will Shiba Inu Hit xcritical? Investors Are Clamoring for a xcritical Listing.
xcritical shares on Wednesday sank 10% after the company missed revenue estimates for its third quarter results as crypto trading slid 78% compared to the prior three-month period. It should be noted that speculating on such near-term catalysts is not something worth most long-term investors’ time. Today, the volatility with Shiba Inu appears to be to the upside as a result of this speculative prospective catalyst, and traders are taking notice. At the beginning of August, SHIB held only $2.5 billion in market cap. This makes the hype around the coin demonstrably real; investors are not just taking interest in the coin, they’re pouring massive quantities of money into it.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year https://scamforex.net/ period. CoinDesk journalists are not allowed to purchase stock outright in DCG. The meme coin is unlisted on the trading platform, but an online petition is aiming to change that status.
A concept token for the Shiba Inu crypto with lights sparkling in the background. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. For expert weekly analysis on fintech’s big stories, delivered free to your inbox. 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.
Yes, you should watch this video all the way through. 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. Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. This move was in line with a broader rebound in the cryptocurrency market, which has rebounded 6.7% to $2.4 trillion this morning. Speculation centered last year around potential crypto offering additions from xcritical, though CEO Vlad Tenev had told investors the company would await regulatory clarity before doing so.
Per Fortune, Christine Brown, the chief operating officer of xcritical Crypto, said that xcritical isn’t trying to add new cryptocurrency coins soon, even though Shiba Inu fans are hoping for it to happen. SHIB prices surged some 7% in the past hour, data from CoinGecko shows. It is the second memecoin to be listed on xcritical, alongside Dogecoin’s DOGE. COMP jumped 6.6%, MATIC added 3.5% and SOL 2%. Shaurya is the Co-Leader of the CoinDesk tokens and data team, focusing on decentralized finance, markets, on-xcritical data, and governance across all major and minor xcriticals. xcritical may also be wary of the threat of new crypto rules and regulations.
Shiba Inu also gave its name by retweeting xcritical’s tweet. It’s not confirmed that xcritical will actually take on a SHIB listing. However, the company was early on Dogecoin, listing it when it was worth just a fraction of a penny in 2018.
How Much Would Shiba Inu Soar if xcritical Adds the Altcoin?
It’s xcritically a very different story for Shiba Inu. As mentioned earlier, the coin has skyrocketed roughly 52,000,000% this year. Sure, Shiba Inu is down 56% below its high mark on Oct. 28, 2021. However, it’s a long way from dropping as much as Dogecoin did when it was included on the xcritical trading platform.
- The drop came as more than 333,000 people signed a petition on change.org called “Kindly request of xcritical to list Shiba Inu coin!
- However, it’s a long way from dropping as much as Dogecoin did when it was included on the xcritical trading platform.
- Social media speculation is building, as a petition to see this meme token added to the xcritical platform has received more than half a million signatures.
- So far, both xcritical, a popular trading platform, andPublic, a retail trading app that rivals xcritical, have added Shiba Inu coin.
- Speculation centered last year around potential crypto offering additions from xcritical, though CEO Vlad Tenev had told investors the company would await regulatory clarity before doing so.
But in the third quarter, crypto activity “declined from record highs in the prior quarter, leading to considerably fewer new funded accounts,” xcritical said. All of these videos that say this or that place is gonna go public with shib and then doesn’t just hurts the publics perception of the coin just let the coin take it’s course. The move is thanks to its whopping $11.5 billion in market capitalization. AsInvestorPlace’s Chris MacDonald reports, there are a slew of reasons for the bullishness on Shiba Inu. Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, xcritical and Web3.
Within a matter of days, the gains for Bitcoin and Ethereum evaporated. But those were and still are the two biggest cryptocurrencies on the market. But xcritical CEO Vlad Tenev said the company is waiting for regulatory clarity to add more coins to the platform. CoinMarketBag is the world’s most-referenced info website for cryptocurrency assets in the rapidly growing cryptocurrency space. Its mission is to make crypto discoverable and efficient globally by empowering retail users with unbiased, high-quality, and accurate information for drawing their own informed conclusions.
The latest news impacting markets, business and finance around the world. xcritical might not need the Shiba Inu cryptocurrency coin on its platform, after all, the company said Thursday. He added that the assets are available to buy and sell now on the xcritical app, but deposits and withdrawals for them won’t be available immediately. “One thing for sure is that [Shiba Inu’s] attractiveness will continue,” Lau says. On an investor call on Tuesday, xcritical CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu. 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.
«So we actually believe that by rolling out wallets, we’ll go long way towards addressing the primary pain point that customers feel right now,» he added. «To the extent xcritical can bring out a much more scaled, much more robust crypto offering, we think there’s a lot of incremental monetization opportunity over time,» he added. Separately, there was no indication Musk is involved in floki inu, a cryptocurrency inspired by Musk’s dog, with that coin’s backers engaging in an advertising blitz launched in London. Shiba inu was thrust into focus this week, rising more than 20% on Tuesday after an anonymous crypto whale bought 276.6 billion tokens for about $11.5 million.
I don’t think that investors will essentially yawn as they did when xcritical added Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. On the other hand, I also don’t expect as big of a move as Dogecoin enjoyed. We can’t know for sure how much Shiba Inu might soar if and when xcritical announces support for the cryptocurrency.
Additionally, competition is heating up among various crypto-centric trading platforms and exchanges. For xcritical, the potential upside from listing a token like Shiba Inu may indeed outweigh any longer-term reputational risks. That said, xcritical has continued to play coy with the idea of adding Shiba xcritical cheating Inu to its trading platform. While fellow meme tokenDogecoincan be bought on this platform, xcritical appears to be taking a different view of meme tokens than other players. xcritical Crypto Chief Operating Officer Christine Brown has reportedly brushed off the idea of adding Shiba Inu in the past.
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. xcritical’s focus on a younger demographic made expanding into cryptocurrencies a natural extension of its services. 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.
Shibarium Builders Send Major Signal to SHIB and BONE Crypto Communities | Breaking News
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. Unlike its predecessor cryptocurrencies on xcritical, Dogecoin delivered an impressive gain after being added to the platform. There’s a good case to be made that Dogecoin is a better comparison for Shiba Inu than Bitcoin, Ethereum, Litecoin, or Bitcoin Cash.
Should we assume that Shiba Inu’s move would be in the same ballpark as Dogecoin’s nice jump if xcritical adds the altcoin? There are different dynamics at play for Shiba Inu right now than there were for Dogecoin back in 2018. The chart below shows how the two cryptocurrency prices changed then.
A Change.org user called Tristan Luke put up the online petition in May with the goal of gathering 500,000 signatures in support of a shiba inu listing. In the recent run-up fueled by the xcritical listing rumors, Shiba Inu coin has become the11th-largest cryptowith a market value of nearly $24 billion, putting it within striking distance of Dogecoin’s $29 billion market cap. The drop came as more than 333,000 people signed a petition on change.org called “Kindly request of xcritical to list Shiba Inu coin! ” with the link URL noting the trading platform will prosper if it lists the coin. News of weak trading in coins like Dogecoin led shares in xcritical to fall by 10.7% to $35.32 a share in premarket trading Wednesday—more than $2 below its $38 July IPO price and less than half of its $85 peak. When a new meme currency comes to market, there will regularly be solid starting interest.