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Kraken recent announcement of listing the Shiba Inu coin on its platform is causing market excitement. This comes a month after the previous listing promise failed to materialize.
In the announcement, the platforms said the coin will be available on its platform starting Tuesday, November 30th. Trading will be available against the dollar and euro. Traders will trade a minimum of 50,000 Shiba.
However, the margin and futures will not be available after the launch.
This is a big boost for the coin that has been falling for the last few weeks. Since the announcement, Shiba’s price has been rising with the coin having gained around 25% at the writing of this article.
Why Listing in Kraken in Important for Shiba Inu Coin
Listing of the coin in major trading platforms such as Kraken helps expose it to a huge number of potential investors. This is key as it brings volume and momentum to the coin.
It is also a measure of popularity and market acceptance. This is the reason why the most popular and largest cryptocurrencies such as bitcoin and Ethereum are available across all the major trading platforms.
Availability in different platforms also gives customers choice. Every platform is unique in terms of commissions and processes such as how they handle customer deposits and withdrawals.
Although both the margin and futures will not be available in this launch, there is a possibility of including them in the future.
Most investors are attributing the rise of the coin that has been happening for the last 24 hours partly due to this listing.
Shiba Listing on Robinhood
Robinhood remains another major platform yet to list the coin despite a petition that now has over 500 thousand signatures.
Shiba investors have been persistently petitioning Robinhood to enable coin trading. Robinhood is one of the biggest retail trading platforms with millions of customers using it.
However, the company recently said it is not in hurry to list the coin and hasn’t given any future date yet. However, the majority of Shiba investors and traders believe having the coin on Robinhood will contribute immensely to its growth.
Although Robinhood is yet to happen, there is good news from GEMINI Platform after they recently listed the coin.
With the current growth of the Shiba coin both in price and the number of investors, it is becoming in the interest of trading platforms to have it available for their customers.
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