https://ift.tt/HXUvJ19 Gains More Liquidity As Shiba Inu Is Welcomed by Popular Brazilian Exchange

On Wednesday (February 9), one of Brazil’s oldest and most popular crypto exchanges announced its support for Shiba Inu ($SHIB).

Here is what Binance Academy says about Shiba Inu:

“Shiba Inu (SHIB) is a dog-themed meme cryptocurrency named after a Japanese dog breed. It was created in 2020 by an anonymous developer named Ryoshi, who designed SHIB to be an alternative to Dogecoin (DOGE) on the Ethereum blockchain.

“SHIB is an ERC-20 token with a decentralized exchange called ShibaSwap. The SHIB roadmap and ecosystem also features an NFT art incubator called Shiba Artist Incubator, 10,000 ‘Shiboshi’ NFTs, and an NFT game Shiboshi Game.

“Shiba Inu had an initial circulating supply of 1 quadrillion tokens. Ryoshi locked 50% of the token in Uniswap to create liquidity, and sent the other 50% to Ethereum co-founder Vitalik Buterin’s wallet. However, Vitalik decided to burn 90% of the coins and donate the remaining 10% to charity.“

According to data by Crunchbase, Foxbit was co-founded by João Canhada and Luís Augusto Schiavon Ramos in December 2014. Apparently, the centralized crypto exchange has over 950,000 registered users.

Here is how Foxbit announced the news of its latest altcoin listing on Twitter:

This is the second Brazilian crypto trading platform to announce support for Shiba Inu. On 30 November 2021, Mercado Bitcoin, which describes itself as the largest crypto exchange in Latin America with over three million users, announced that it was going to list $SHIB on 1 December 2021.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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