After Dismissing Dogecoin, Bitstamp Lists Rival Shiba Inu (SHIB)

The hype behind canine-themed coins may have declined, but that has not stopped prominent trading venues from adding support for Shiba Inu (SHIB). It has now managed to fetch a listing from Luxembourg-based Bitstamp. Besides SHIB, the exchange also added Perpetual Protocol (PERP), dYdX (DYDX), and Gala (GALA).

Bitstamp Lists Shiba Inu (SHIB)

According to the official announcement, Bitstamp will enable its users to trade SHIB against the US dollar and the Euro, i.e., SHIB/USD and SHIB/EUR. On December 8th, the exchange started deposits and withdrawals for SHIB. The following day, users were allowed to place and cancel limit orders.

On the same day, Bitstamp will also begin order matching, and trades will be executed normally. After the order books gather the necessary liquidity, the exchange will facilitate all order types and card purchases for the latest crypto trading pairs as well.

Launched in 2011, Bitstamp is one of the oldest cryptocurrency exchanges. It had always focused on regulatory compliance and is known to support fewer coins on its platform. Hence, listing SHIB is somewhat of a big deal. While trading platforms such as Binance have listed several lesser-known tokens, Bitstamp, on the other hand, has mostly stayed away from the altcoin craze.

Earlier this year, it had dismissed Dogecoin (DOGE) listing claims citing Tesla Chief Elon Musk’s influence on the crypto-asset. While stating that all the tokens listed on Bitstamp must go meet strict criteria, the platform’s chief executive Julian Sawyer outlined DOGE’s price reacting strongly to the billionaire’s tweets as the reason for not adding the OG meme-coin.


SHIB’s Steady Adoption Curve

Shiba Inu has emerged as one of the most popular altcoins this year owing to a pretty consistent adoption curve. Prominent cryptocurrency exchanges Kraken and Gemini added support for SHIB in November.

It also received a major boost from retail giant Newegg, which extended support for the memecoin for payments on its platform this month. The world’s largest movie exhibition company, AMC Entertainment, also agreed to accept SHIB in the first quarter of 2022.

More recently, Ava Labs’ Avalanche Bridge announced support for the crypto asset. This tool essentially lets users transfer ERC20 tokens from Ethereum (ETH) to Avalanche’s C-Chain and vice versa.


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Cardano (ADA) Set To Begin Trading On Bitstamp On Wednesday

Cardano (ADA) is set to debut on top cryptocurrency exchange Bitstamp. The altcoin has not had a good run of it lately but things seem to be looking up for the project. After smart contract capability had been deployed on the network, expectations had swelled for the possible growth of the digital asset. Now, while the technology has lived up to expectations, ADA has not.

The token had suffered greatly in the market after hitting a new all-time high. It has proved resistant to strides being made in its underlying technology and has not seen much in the way of positive movement since then. This new listing may be able to give the digital asset a much-needed push towards a recovery trend.

Related Reading | eToro Announces Cardano (ADA) And Tron (TRX) Delisting, Points To Regulatory Concerns

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Cardano Lists On Bitstamp

Top cryptocurrency exchange Bitstamp announced that it is listing Cardano on its exchange. The listing took place in four parts. First was the transfer-only mode. This mode was released on Tuesday and would allow users to deposit and withdraw ADA using their Bitstamp wallets but will still be unable to trade the digital asset.

Wednesday marks the complete listing of the token on the exchange. However, this will be split into three parts that will go into effect at different times of the day.

Cardano price chart from

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ADA drops to $1.6 | Source: ADAUSD on

The second phase of the listing is the post-only mode. In this mode, users of Bistamp will be able to place and cancel limit orders using the digital asset but none of these orders will be matched. This means that no Cardano limit orders will be completed on the exchange during this time. This will go into effect at 11:00 AM UTC.

Next is the limit-only mode which goes live at 3:00 PM UTC. This time around, all of the limit orders placed using ADA on the crypto exchange will be executed. But users will still be limited to trading through limit orders.

The final phase of the listing is full trading. This is to give the order books enough time to gather sufficient liquidity and once it does so, all orders will be executed normally and Bitstamp will enable card purchases for the newly released trading pairs.

ADA Struggling In The Market

Compared to its peers in the market, Cardano (ADA) has fared considerably worse than others in recent weeks. This, however, does not take away from the fact that the digital asset has done very well year-over-year. ADA which had been trading at less than $0.20 at the beginning of the year had risen to an ATH above $3 this year, posting massive gains for its investors.

Related Reading | Cardano Founder Reiterates Long-Term Purpose Amid Sell-Off Panic

The asset price has since fallen back below $2 but listing on Bitstamp could lead to some upward momentum for ADA, especially following eToro announcing that it would be officially delisting Cardano (ADA) from its exchange next month.

Featured image from, chart from


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Massive Sell Order Flash Crashed Bitcoin’s Price to $51K on Bitstamp

Bitcoin tapped a fresh high during Monday morning’s Asian trading session. At the time of writing, BTC prices were still close to those levels at $56,700.

  • Bitcoin has posted its third weekly green candle and fourth on the daily time frame. The asset has gained an impressive 17% over the past 7 days and 31% over the past fortnight.
  • However, there was a discrepancy on one popular trading venue, as pointed out by the Twitter trader “Hsaka” –  a flash crash that occurred on the Bitstamp exchange. Prices plummeted to around $51K on the platform following a large spot sale, but markets elsewhere were not affected.

  • A flash crash is typically described as an event in which the price of an asset drops immediately by a large percentage and spikes back up immediately. This is what transpired on Bitstamp hours ago.
  • BTC stood around $55,500 before it suddenly plummeted to $51,000, as the chart below demonstrates. It bounced off just as fast. TradingView volume data shows that there were 212 bitcoins being sold at that minute, which most likely caused the sharp drop.

BTCUSD Flash Crash on Bitstamp. Source: TradingView
BTCUSD Flash Crash on Bitstamp. Source: TradingView

  • It’s worth noting that this is not an isolated incident in the cryptocurrency space. CryptoPotato has reported several such examples in the past where the price of BTC dumped by double-digit percentages in seconds.
  • Also, some alternative coins have been affected. Earlier this year, the DOT/USD Quarterly perpetual futures contract on the COIN margined section of Binance Futures went through a massive flash crash as the price dipped from a high of $33.862 to a low of $0.20 in an instant.


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Charlie Lee Sums Up Litecoin’s 10 Years History. Part Two: Exchanges + Betrayal

The creator of Litecoin, Charlie Lee, continues to guide us through memory lane. For part one, he took us through Litecoin’s fair launch. Considering the small number of projects that have managed to do this, it’s a pretty big achievement. Today, for part two, we’re going to cover the project’s relation with cryptocurrency exchanges. Charlie Lee wears his heart on his sleeve for this one, and tells a heartfelt story that ends up in betrayal. Can you feel the excitement in the air?

Related Reading | Charlie Lee Predicts Resurgence of Litecoin as Bitcoin Cash Falters

This part of the story is all about relationships, connections, and the long road to credibility. It’s also about Charlie Lee’s resistance and willpower.

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Before we get into the meat and potatoes of the story, though, a light detail that shouldn’t go unnoticed.

Charlie Lee Gives Flowers To The Litecoin Logo Creators

There’s not much story to the logos, but it’s cool that Charlie Lee gives credit where credit is due. The first and the second one show evolution:

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And the final one is a simplification of the second one:

That being said, let’s get back to the story.

LTCUSD price chart for 10/09/2021 - TradingView

LTCUSD price chart for 10/09/2021 - TradingView

LTC price chart for 10/09/2021 on Coinbase | Source: LTC/USD on

Litecoin’s Long Hard Road To Exchange Listings

This contradicts the title, but, in 2011 Litecoin was immediately listed in the defunct BTC-e. The site was a pretty successful cryptocurrency exchange that fell into disgrace when the US Justice Department accused them of laundering funds from the Mt. Gox hack, but that’s another story. Regarding Litecoin, Charlie Lee tells us that the listing, “helped a lot as miners had access to liquidity pretty quickly. Litecoin quickly become one of the most popular coin on BTC-e.

However, even though Lee “pretty much talked to all the exchanges to support LTC,” it was two years later that the second one listed Litecoin. Bitfinex took a chance on the nascent project, “This was a huge deal for Litecoin. It’s the first major exchange to support LTC.”

Then, Charlie Lee remember how he tried to get the CEO of Bitstamp to list them and he laughed him off. Only to list the coin in 2017. The same thing happened with BitPay, who ended up supporting Litecoin only this year. 

The Chinese exchanges, though, listed Litecoin from the beginning. “Sometime late 2012 to early 2013, 2 of the largest exchanges in China, Okcoin and Huobi, added support for LTC. That was huge.” A question arises, did Charlie Lee have to throw shade at those two exchanges this hard? “The trading volume was also pretty crazy, but unclear how much of that was fabricated.

Charlie Lee And Coinbase, A Love Story

So, in 2013 Charlie Lee steps down as Litecoin’s lead developer and leaves the job to Warren Togami. At the same time, he leaves a high-paying job at Google because they weren’t interested in anything crypto-related. That’s when Coinbase gets into the picture. Lee contacts them to see if they’re interested in listing Litecoin and they end up hiring him instead.

According to Charlie Lee, “Coinbase was the hot startup and THE crypto company that is making Bitcoin easy to use. I knew that if Bitcoin didn’t succeed, Litecoin wasn’t going anywhere either.” A cold hard truth that all of the Altcoins have to live with to this day. Besides that, Lee wanted to eventually convince Coinbase to support Litecoin. How could he not?

The Chinese connection paid off and the BTC China, lead by Charlie Lee’s brother, listed the coin. “Although it was a huge news, what took him so long?!,” asks Lee hilariously. Also notice that the banner that he mentions plays on the fact that Charlie and Bobby are brothers. 

In 2015, there were rumors that the infamous Mt. Gox exchange was going to list Litecoin. At the time, this was THE place to be. Charlie Lee finally confirms the story, “The rumors were actually true. I was talking to the CEO, Mark Karpelès almost on a daily basis in mid 2015.” However, the Mt. Gox hack was exposed before they materialized those plans. And all hell broke loose. “In hindsight, it was a blessing in disguise.”

Then, as it happens, things turned sour in the Charlie Lee and Coinbase romance.

The Brian Armstrong tweet he refers to says: “Ripple, Stellar, and Altcoins are all a distraction. Bitcoin is way too far ahead. We should be focused on bitcoin and sidechains.” Wow. What would the Brian Armstrong of the present say about that statement?

Anyway, in 2016 Litecoin’s trading volume was exploding in the Chinese exchanges and Charlie Lee saw his opportunity. “This was also when Ethereum was starting to get big. So I put together a proposal to Brian and Fred Ehrsam to add both LTC and ETH to Coinbase.” The proposal’s thesis was that, since people in the US had no easy way to buy, store, and trade those coins, there was “a lot of unsatisfied demand.” And Coinbase could make a lot of money. 

Here it is: betrayal. The two Coinbase executives broke Charlie Lee’s heart by accepting the proposal, but only for Ethereum. “Although I went along with the plan, it kind of rubbed me the wrong way. Litecoin had a much higher global trade volume at the time and was the #2 coin in marketcap.” A little while later, Lee took three months of Coinbase to focus on his project.


In the next episode, Litecoin’s story intertwines with Bitcoin’s and the controversial Segwit implementation. We’re going to discover that Charlie Lee and his team were instrumental in this. How? Tune in to find out. 

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Bitcoin extends slide below $43K as Binance’s BTC stash grows to May-crash levels

Despite Bitcoin (BTC)  dropping below $43,000 mark on Sept. 20, the outflow of BTC from exchanges has continued in a multi-month trend, particularly on Coinbase Pro. 

BTC/USD 4-hour candle chart, Coinbase. Source:

Over the past month, the amount of Bitcoin held in Coinbase Pro’s vaults dropped by 28,843.87 BTC. Similarly, other crypto exchanges, including Kraken, OKEx, Bitfinex, and Huobi, also experienced a drop in their Bitcoin holdings, with the withdrawn amount totaling 30,236 BTC across the board.

Bitcoin balance on Coinbase Pro. Source:

On-chain analysts perceive falling Bitcoin reserves as a bullish signal.

That is primarily because most traders move their BTC assets to exchanges only when they prefer to trade them for other assets—be it fiat currencies or altcoins. As a result, the exchange balance serves as a metric to gauge traders’ sentiments for the underlying asset.

As a result, Coinbase Pro’s declining Bitcoin reserves hint at its traders’ intention to hold BTC instead of selling it. But, at the same time, its top rival Binance has been playing a spoilsport. 

Binance BTC reserves buck the trend

However, data also shows that the Bitcoin balance in Binance wallets has risen to 29,717 BTC in the last 30 days, which is more the amount Coinbase Pro withdrew from its vaults.

Bitcoin balance on Binance. Source:

As the world’s leading crypto exchange by volume, Binance enjoys a certain influence on the market due to its global outreach. The exchange’s rising Bitcoin balances suggest that its users could sell an increasing amount of BTC, the opposite of the trend seen on Coinbase.

The increase in Bitcoin reserves on Binance also reached levels that followed up with the market sell-offs during the second quarter of 2021. Notably, the Bitcoin balance on the exchange spiked from 199.7K BTC on April 20 to 347.59K BTC on June 26.

Bitcoin balance on Binance between April 20 and June 26. Source:

The same period saw BTC/USD drop from around $65,000 to below $30,000, including the notorious May 19 crash when Bitcoin plunged by more than 30%.

Bitcoin trading at $300 premium on Binance

The massive spike in Bitcoin reserves on Binance also coincided with premium BTC/USD bids on the exchange with the BTC spot price being almost $400 higher on Binance than on Coinbase.

Bitcoin prices on Binance versus Coinbase. Source:

The vast price difference created arbitrage trading opportunities, coinciding with Binance’s Bitcoin reserves adding 1,529 BTC in the previous 24 hours compared to Coinbase that processed withdrawals of 579 BTC.

Related: Does Evergrande’s $300B debt crisis pose systemic risk to the crypto industry?

As a reminder, exchanges still processed more than 30,000 BTC in withdrawals in the past 30 days, signaling that traders overall wanted to hold their crypto rather than sell it for other assets.

But given Binance’s trading volumes (~$24 billion) in the previous 24 hours were six times higher than Coinbase Pro (~$4.23 billion) at press time—as per data collected from CoinMarketCap—the probability of an interim Bitcoin price drop appeared high.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.