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Dogecoin Killer Shiba Inu Now Available for Spot Trading on One of World's Largest Exchanges

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Mon, 12/06/2021 - 14:44
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Alex Dovbnya
Bybit, one of the leading crypto derivatives exchanges, has added support for Shiba Inu spot trading
Dogecoin Killer Shiba Inu Now Available for Spot Trading on One of World's Largest Exchanges
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Singapore-based cryptocurrency derivatives exchange Bybit has announced that Shiba Inu is now available for spot trading.

Prior to that, it added the SHIB1000/USDT derivatives pair in October, allowing users to trade the meme cryptocurrency with up to 25x leverage while using the Tether stablecoin as collateral.

Bybit initially launched support for spot trading in July for four cryptocurrencies (Bitcoin, Ethereum, XRP and EOS).

Traders from the U.S., mainland China, Singapore, Iran and some other countries are not allowed to use the service due to regulatory roadblocks.

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During the same month, the Ontario Securities Commission warned the exchange against offering derivatives products in the largest Canadian province.

Bybit is the fourth-largest cryptocurrency exchange by Bitcoin futures open interest (behind only Binance, CME Group and FTX).

In other news, Shiba Inu was recently listed on the largest cryptocurrency exchange in Brazil.

Yet, the cryptocurrency continues its downtrend in spite of a wave of new listings. The SHIB price is now down 60% from its all-time high.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.