Gemini, One of the World Biggest Crypto Exchanges Lists Shiba Inu

Gemini Shiba Inu

One of the biggest crypto exchanges in the world, Gemini, is now reinforcing the Shiba Inu (SHIB) ecosystem. Gemini’s news positively responds to Shiba Inu’s earlier petition to motivate Gemini to list them.

In addition to SHIB, Gemini is championing four more entities. The entities are new DeFi, metaverse, infrastructure, and data management tokens.

Detour into Shiba Inu

Shiba Inu is a Japanese Ethereum based meme coin based on a dog by the same name. Shib has been famous since 2020, and it has become one of the most significant sensations in cryptocurrency.

Shiba Inu coin was started in August 2020 by an anonymous team to create a decentralized ecosystem. The Shiba Inu whitepaper shows that the currency has also found a decentralized exchange called Shibaswap with two additional tokens, LEASH, and BONE. 

On the other hand, Gemini is a privately-owned cryptocurrency platform that allows users to buy, sell, trade, and securely store different digital assets. The listing of SHIB will add to these currencies allowed to trade alongside Bitcoin and Ether.

Shiba Inu’s Petition

In October 2021, Shiba Inu filed a public petition to have a chance in Gemini’s listing. The petition stated by Mark Diaz attracted over 18000 supporters. In the petition, Mark noted that like Dogecoin, Shiba Inu is worthy because its value gains momentum by the day.  

Undoubtedly, the petition caught the attention of Gemini and is now in the listing less than 30 days after. The petition is currently closed with a status portraying its success.

The Gemini Team

In a blog post published by Gemini, Gemini now hosts 72 crypto assets. Sixty tokens are allowed to trade and hold custody of assets. The other 12 companies only have custodial rights.

Shiba Inu’s support offers them both trading and custodial rights on the Gemini platform. Some other companies that hit the list are; Audius (AUDIO), Mask Network (MASK), Wrapped Centrifuge (wCFG), Quant (QNT), Radicle (RAD), Burn (ASH), SuperRare (RARE), Fetch AI (FET)*, and Numeraire (NMR).

The Gemini team adds that “We are proud to be the first regulated U.S. exchange to offer trading for API3, ASH, and RARE. We believe these tokens will provide value to our users and will continue to support DeFi, the budding metaverse, decentralized infrastructure, and data management environments.”

Gemini also announced that they are supporting the Ethereum(ERC-20) version of FET. Gemini added that holders of Eth compatible wallets would transact and swap to FET using a bridge.

Shiba Inu on Gemini Space

The publication by Gemini further described the position of SHIB in the Gemini arena. Currently, SHIB employs an ERC-20 Ethereum coin base. Since Gemini already supports Eth and its ERC-20 version, Shiba Inu will be well placed.

Trading Shiba Inu on Gemini Starting Soon

Shiba Inu will be ready to start trading at Gemini very soon. Gemini is currently preparing to activate the activities of SHIB and other tokens that made it into the listing. Gemini has advised that it will announce the ripe time for trading on its Twitter handle.