Tag: Holders

Crypto Exchange Gemini Lists Shiba Inu As Number Of Holders Increases

by NEWSBTC

Crypto exchange Gemini has added support for popular meme coin Shiba Inu (SHIB) amid growing interest. Gemini announced that it has now supports SHIB in addition to a few new defi, metaverse, infrastructure, and data management tokens.

Related Reading | Shiba Inu Beats Out Cardano, Dogecoin On Top 10 Watch-Listed Tokens

The exchange’s new addition comes as holders of the meme coin are steadily increasing.

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Gemini Lists Shiba Inu

The crypto exchange announced its latest additions in a blog post on Friday.

“We are delighted to announce support for Shiba Inu (SHIB), as well as a range of new DeFi, metaverse, infrastructure, and data management tokens.” the company said.

“Shiba Inu (SHIB), Audius (AUDIO), Mask Network (MASK), Wrapped Centrifuge (WCFG), Quant (QNT), Radicle (RAD), Burn (ASH), Superrare (RARE), Fetch.ai (FET), and Numeraire (NMR) are now supported for deposits and custody on Gemini.”

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SHIB’s recent listing on Gemini’s platform is a sign of how much users are demanding the coin. In fact, the petition for another major exchange, Robinhood, to add support for SHIB is still ongoing. At the moment, the petition already has 532,237 signatures. However, Robinhood recently indicated that it is not rushing to add any new coins to its platform.

SHIBUSD on TradingView.com

SHIB price at $0.0000528 | Source: SHIBUSD on TradingView.com

Last week, Christine Brown, Robinhood Crypto’s COO and VP of Product Operations talked about her company’s crypto strategy at a conference. Responding to a question about whether the exchange will list SHIB, she replied “When it comes to our strategy of what we are going to list, the first thing is that we’re not going to talk about it. So I’m not going to break that news here, unfortunately.”

She further explained that the company’s strategy is different from others like Coinbase, who are racing the list as many assets as possible.

“We want to make sure we are working and assessing everything from a regulatory perspective very well. And we are a safety-first company so that’s how we’re going to play it.”

Coinbase, on the other hand, is eager to list many cryptocurrencies. Earlier this month, the exchange announced that Shiba Inu is now available to New York residents. Although, it has been offering SHIB on its platform since June.

Number of SHIB Holders On The Rise

As SHIB grows in popularity, more and more people want to get their hands on it.

Related Reading | AMC Theatres Says Customers Will Soon Be Able To Pay With Shiba Inu

The number of Shiba Inu holders is getting closer to the long-awaited number of one million holders in total. At the time of writing, 985,674 unique addresses now hold SHIB assets.

Featured image by TronWeekly, Chart from TradingView.com

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1.1M noobs panic sell, but Bitcoin hodlers DGAF

by Cointelegraph

While new entrants to Bitcoin markets have been panic selling at a loss, the recent market slide has not vexed the old hands.

Heavy selling in response to hints from Elon Musk that Tesla may soon sell its BTC stash saw Bitcoin prices tumble to their lowest levels in 20 weeks as the markets found support near $42,000 on Monday, May 17.

According to on-chain analytics provider, Glassnode, the crash predominantly saw newer traders exiting from their positions at a loss while long-term hodlers stood their ground.

Glassnoded noted Bitcoin’s adjusted Spent Output Profit Ratio (aSOPR), a metric that shows whether BTC was in profit or at a loss when it was last transacted on-chain, fell below 1.0 amid the dip. An aSOPR of less than 1.0 indicates aggregate losses have been realized on-chain and are most pronounced in short-term holders (coins younger than 155-days) — traders that purchased during the 2021 bull market.

The total number of addresses holding a non-zero BTC balance has also retreated by 2.8% from its recent all-time high of 38.7 million as more than one million traders liquidated their positions. Glassnode stated:

“A total of 1.1M addresses have spent all coins they held during this correction, again providing evidence that panic selling is currently underway.”

Glassnode asserted the volatility in the share of supply represented by short-term holders is indicative of panic selling, noting the similarity between recent patterns in supply distribution and those observed amid the macro peak of the 2017 bull season. Markets usually find a macro peak when new holders hold a relatively large portion of the total supply.

Bitcoin total supply held by short term holders: Glassnode

Coins held by short-term holders recently hit a peak of 28% of the circulating supply or around 5.3 million BTC.

Glassnode estimates Bitcoin has shed more than 28% since tagging an all-time high of $63,600 on April 13. The retracement is the deepest correction of the current bull market.