Cryptocurrency exchange Kraken will support the popular, Ethereum-based memecoin shiba inu (SHIB), which is expected to begin trading Tuesday, the company said in a blog post on its website Monday.
- The announcement comes less than a month after Kraken failed to fulfill a promise in listing SHIB after its crypto platform product lead Brian Hoffman issued a Twitter “likes” challenge. Following an uproar among SHIB supporters, the company said there was “more work” to do as it moved through its token listing review process.
- Kraken said Monday the minimum, required deposit is 373,000 SHIB, and that the coin will be tradable against the U.S. dollar and euro, with a trading minimum of 50,000 SHIB.
- SHIB margin and futures trading will not be available for investors, the exchange said.
- SHIB jumped over 16% at one point Monday as the broader cryptocurrency market continued to rally following Friday’s sell-off.