Shiba Inu (SHIB) Receives Support from This Popular Crypto Platform: Details
TL;DR
- A well-known crypto platform now allows users to purchase shiba inu (SHIB) by incorporating various services into the asset.
- SHIB’s widespread adoption by major exchanges and positive market indicators suggest there is potential for revival despite current market downturns.
Nexo, the leading cryptocurrency lending platform, /market.parofix.com/coin/nexo">nexo/status/1776215865760891337″ target=”_blank” rel=”noopener” data-wpel-link=”external”>announced
On X, users will be able to purchase the second largest meme coin, Shiba Inu (SHIB). The company announced that card transactions can be accepted “in seconds” and allows free Ethereum top-ups.
Exchanging rewards, borrowing against SHIB, and sending assets to a friend via phone number or email are also supported options.
Dealing with meme money is available to all Nexo users except those residing in the United Kingdom (UK). Despite embracing the Shiba Inu, the platform warned that investments in cryptocurrencies carry “some degree of risk”; This means customers need to be extra careful when entering the ecosystem.
The price of the asset showed little to no fluctuation in the hours following Nexo’s announcement. It continues to trade in the red, down 13% on a weekly scale, in line with the broader market correction.
SHIB Price, Source: CoinGecko
However, some important indicators indicate that a revival may be on the horizon. Search factors add increased social activity, accelerating market volume, development of layer-2 scaling solution Shibarium, and successful implementation of the Shiba Inu typing mechanism. If you want to learn more about the L2 blockchain solution, you can click on the video below:
Who Else Supports SHIB?
Shiba Inu is among the cryptocurrencies that generate the most trading volume, which may explain why multiple exchanges have adopted the asset over the years. Binance and Coinbase listed the asset in summer 2021, while Kraken followed OK after a few months. Other leading trading venues that support SHIB include Gemini, KuCoin, OKX and many more.
One of the exchanges that has shown positive results relatively recently is Australia-based GroveX. Like CryptoPotato reportedThis happened in September last year, when the company said it was “a pleasure” to introduce its trading services, which it declared were the dogecoin killer. GroveX also listed BONE and LEASH, which are part of the Shiba Inu ecosystem.
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