Good News for holders: Kraken Supports SHIB
While, Robinhood Crypto had disappointed Shiba Inu fans by announcing that it would not list SHIB, Kraken seems to be a source of hope for SHIB fans.
While Robinhood Crypto disappointed Shiba Inu fans by announcing that it would not list SHIB, Kraken seems to be a source of hope for SHIB fans.
November 30 is the date when the US-based crypto exchange will start supporting the popular trending memecoin, Shiba Inu.
Kraken support entails the following: a minimum deposit and a minimum trading volume of 373,000 SHIB ($16) and 50,000 SHIB ($2), respectively. In the early phase, Futures and Margin Trading in Kraken won’t be available, and users can only trade SHIBUSDT or SHIBEUR when launched.
Source; Kraken Twitter
John Milton, Kraken Australia managing director, expressed that the projects that have a clear trading demand are supported in the crypto marketplace, and this includes the 12th-largest cryptocurrency, SHIB, as well.
Right now, at the current price, the SHIB marketplace stands at $25.81 billion, with a 20% profit in the last 24 hours. He also said:
" I wouldn’t describe Kraken as being the place where every single coin is listed, that’s not been what we have been known for."
As a conservative crypto exchange, Robinhood Crypto supports only seven assets, while Coinbase supports 51 assets. The Kraken exchange is the least conservative of all, supporting 93 assets.
Users have been pressing the exchanges on social media by organizing campaigns and petitions and inviting other fans to join this cause. SHIB has hit a new record of 1 million holders while it dropped sharply recently, losing half of its value compared to its ATH. Most of the exchanges have not yet listed SHIB since they are concerned about the regulatory problems.
Previously, Christine Brown, Robinhood's chief operating officer, expressed their reluctance to list SHIB by saying that "strategy is different than a lot of the other players out there who are racing to list as many assets as possible right now."
On the other hand, John Miller said, "There are certain services that we have that don’t really fit the regulatory mold. So there’s this gray area that the whole industry exists in, and that’s not specific to us. "
He also added:
"That’s just the nature of the fact that we’re dealing with an innovative technology that really doesn’t necessarily fit the criteria that existing regulators perceive as possible."
Regarding the regulatory criteria, Dan Gallagher, Robinhood's chief legal officer, "It’s a very tense situation, and it does call for regulatory clarity, which we haven’t seen yet."
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