US-based digital asset exchange Kraken has confirmed that beginning today, it will support the viral meme coin Shiba Inu (SHIB).
The minimum deposit is fixed at 373,000 SHIB ($16 USD), while the minimum trading volume was established to be 50,000 SHIB ($2 USD). For now, SHIB can be traded against the USD and Euro pairs; Kraken Futures and Margin Trading for SHIB aren’t on the list for possible trades at the moment.
Jonathon Miller, the Australian managing director at Kraken, stated that the crypto marketplace offers support to projects that have a clear demand for trading, and that includes Shiba Inu.
Currently, SHIBA represents the 12th-largest crypto having a market cap of $25.81 billion. The coin has recorded an increase of more than 20% over the previous 24 hours as a result of the news that it would be listed.
Miller further stated:
Then again, Kraken is seen as one of the least conservative exchanges in the world as it has 93 assets listed, in total, while Coinbase supports 51 assets and Robinhood just 7.
Most exchanges have had a rather hesitant approach to listing SHIB as a result of regulatory concerns, even if its popularity is soaring. Just four days ago, on November 26th, SHIB reached 1 million holders, even as it stood 50% below its ATH.
Several weeks back, Christine Brown, the COO of Robinhood, commented that the platform’s “strategy is different than a lot of the other players out there who are racing to list as many assets as possible right now.” There is a petition on Change.org that asks Robinhood to list Shiba Inu with more than half a million signatures.
Miller also said: