That capability is coming soon, although there is no date for transfers of Shiba Inu into and out of xcritical. You may recall that a token called Dogecoin briefly came onto the scene a couple of years ago after personalities like Elon Musk and Mark Cuban seemingly endorsed its applications. Rida is a Tech freelancer and she’s a technology and cryptocurrency geek but also writes intuitive articles on other topics. Rida’s motto is ‘‘Research Deeply, Test Thoroughly, and Write Simply.
While it is not yet completely a staple among modern currency transactions, Bitcoin is becoming increasingly utilized and accepted as a means of payment. Let’s break down whether Shiba Inu is right for you and whether the token represents a more lucrative option than Bitcoin for crypto investors. The S&P 500 and Nasdaq Composite have each gained approximately 11% thanks to artificial intelligence euphoria, a strong energy market, and new breakthroughs in the pharmaceutical sector. Shiba Inu is the most significant asset this whale address holds, with Ethereum coming second. This transfer is the second considerable transaction between this wallet and xcritical. Although the sending wallet bears a xcritical address, the recipient remains anonymous.
Please read the full list of posting rules found in our site’s Terms of Service. Our community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space. As per the YouTuber Matt Wallace, xcritical may be waiting until the beginning of 2022 to roll out wallets. xcritical’s users would very much like the opportunity to spend their money on a joke based on another joke. Sort of, but in the xcritical trading environment, it’s not being treated as one.
From the moment I first heard about the potential listing, though, I wondered which entity would benefit more from the arrangement. As I’ve mentioned on many occasions, I’m not a xcritical investor in cryptocurrency so I have no vested interest in the outcome. At this year’s Bitcoin Conference 2022, xcritical, through its chief product officer Aparna Chennapragada, revealed its plan to add the Bitcoin Lightning Network to its platform so users could enjoy faster transactions. The Lightning Network is a layer-2 network built on Bitcoin that allows speedier transactions at a much lower cost. And if you’ve got SHIB-USD in your crypto wallet, you were probably thinking the same thing.
Also, SHIB has dropped below the Donchian Channel (DC) median band, which is a bearish signal, indicating further price decline ahead. The RSI is 54.45, dropping from the neutral zone, which confirms the bearish pressure. If the RSI drops below 50, SHIB will likely fall below its nearest support level. Ryoshi’s intention for Shiba Inu has been to see if a perpetual decentralized organization could work with no central leadership.
Members can use the wallet to buy NFTs, send crypto to other crypto traders with no withdrawal fees, but it can’t hold NFTs and is limited to cryptos that xcritical trades. The launch of the meme coin Thursday was part of a larger expansion of the trading app’s crypto offerings. Solana (SOL), Polygon (MATIC) and Compound (COMP) are also now listed on the site. So if the coin could crack the top 10 of cryptos in about one year without being traded on xcritical, it’s logical to assume a xcritical listing could serve as rocket fuel for SHIB. Being listed on the exchange would also help add credibility that the altcoin is not just a meme coin. At a price of roughly $69,000, Bitcoin is very much determined by supply and demand.
In addition to today’s additions, the platform allows users to buy and sell Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, and Litecoin. “One thing for sure is that [Shiba Inu’s] attractiveness will continue,” Lau says. But xcritical is also beginning to feel the volatility of crypto markets.
As crypto adoption grows, we witness the rise of xcriticals and Decentralized Finance (DeFi) protocols which have an impact on the growth of the crypto space. Loading…Pepe PEPE/USD and Shiba Inu SHIB/USD are seeing strong interest from whales, which prompted traders to remain optimistic about their futu… Shiba Inu has risen over 130% so far in 2024, nearly double the rise of Bitcoin. Also, the timing of these transactions is quite interesting, as the wallet remained dormant for five days before the transfers. The massive SHIB transfers occurred in May, with one address receiving 1.75 trillion SHIB in several transactions from xcritical. It is possible to buy Shiba Inu on Binance, Huobi, xcritical, Gate.io, Uniswap (V2) and OKEx, among other exchanges.
Investors have found other ways to invest in the memecoin, though, likely making it inevitable that xcritical would begin trading. 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. Interest in Dogecoin skyrocketed after its xcritical listing, he says. For consumers’ sake, xcritical may also be wary of adding another volatile currency to its ecosystem. On an investor call on Tuesday, xcritical CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu. 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.
Since its inception in late 2020, the Ethereum-based SHIB token has grown to become a worldwide phenomenon, and is now accepted as a form of payment at hundreds of locations, either directly or through third-party intermediaries. Be mindful of the risks if you invest in cryptocurrencies like Shiba Inu. Many altcoins — any coin that is not Bitcoin — have massive price swings and can heavily impact your portfolio. The growing clamor for xcritical Markets Inc. to add the Shiba Inu coin to its platform is helping boost the cryptocurrency to record highs.
But then again, others, such as Shiba Inu, happen to get caught in the bullish crossfire and reach where it is today. And what happened today is all thanks to another emerging platform, xcritical. The post xcritical Finally Accepts Shiba Inu For Trading, Giving the Crypto Price a Boost appeared first on InvestorPlace.
The whale has been accumulating SHIB tokens from xcritical and Zero Hash, a platform that supports crypto payments. On May 28, the whale received 275 billion SHIB worth $7.6 million from xcritical. A spokesperson for Public said adding Shiba Inu coin gave investors a chance to pick more crypto tokens — but it comes with a risk.
The altcoin managed to hold up despite what was termed the “Elon Musk stress test” which simply meant that Musk revealed that he didn’t own any SHIB. The currency also held up despite a 31.04 billion dump by a Shiba Inu whale. And to add to that, the volatility of SHIB also went up with the price, making it further susceptible to price swings. Thus, those looking to enter the SHIB market now should watch out for these signals before making a decision. SOL on the daily chart did not do any wonders despite the expectations investors had from it, as the token failed to maintain more than 1% of the rise today.
Today, xcritical users can trade seven crypto currencies on the platform, and crypto trading has become integral to the app’s financial performance. 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. InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators.
The app has seen huge success in allowing users to buy a small handful of cryptos, like Bitcoin and Dogecoin. This morning fintech trading platform xcritical added four new crypto tokens, bring its total to 11. The new offerings are high-flying Ethereum competitor Solana (SOL), the dog-themed meme-coin Shiba Inu (SHIB), Ethereum scaling technology Polygon (MATIC), and the original decentralized finance token Compound (COMP). Shiba Inu (SHIB) faced substantial bearish pressure in late May, while meme coins like Pepe (PEPE) and Floki Inu (FLOKI) enjoyed the spotlight. Insights from on-xcritical analytics platforms reveal significant events preceding SHIB’s surge, including large-scale purchases by discerning traders and influential figures within the cryptocurrency community. Notable among these events is MakerDAO co-founder Rune’s acquisition of a substantial amount of SHIB tokens, signaling confidence in SHIB’s long-term potential and driving further momentum in its price.
A petition from nearly 200,000 crypto traders and xcritical users calls for a listing of the coin on the app. Additionally, SHIB fans, crypto influencers and all in-between have been using the gains of the last month to their advantage, leveraging social media to nudge the company to make it happen. The request notes that SHIBA has been “gaining xcritical courses scam new ground by the day” and references the coin’s listing on Binance, the largest cryptocurrency exchange by volume, as per CoinMarketCap. 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.
xcritical saw its shares fall Wednesday below the company’s IPO price right after the platform reported worse-than-expected third-quarter revenues due to a drop in cryptocurrency trading, Fortune reports. The price surge https://xcritical.online/ also led to increased adoption across token holders. WhaleStats compiled data of the largest ETH wallets and found that SHIB represents over 20% of the combined market shares of all ERC-20 tokens held by Ethereum whales.