Major Cryptocurrency Exchange Coinbase Listed Shiba Inu


Shiba Inu’s latest price performance came as quite a surprise to all traders in the market. The SHIB token showed the lowest average daily volatility level in the coin’s entire trading history. The main reason for this may be related to the relatively low volume of token burning. According to the daily chart of the token, SHIB has been moving in a single straight line for the past seven days. The asset’s price has not changed by 1% in a week. This is an unprecedented price for an asset as historically volatile as the Shiba Inu.

The coin has come a long way since it was just a commemorative coin trying to shed its identity in favor of something more useful. The official launch of the decentralized platform Shibaswap confirmed Shiba Inu’s commitment to growth. It is worth noting that Shibaswap took first place in the list of leading Ethereum boards based on social signals. This is an impressive achievement for DEX, who beat Bored Ape Yacht Club, and OpenSea, who finished second and third, respectively.

Shiba Inu and Crypto

According to nomics.com, Shibaswap’s daily volume averaged $10.8 million. Uniswap averaged more than $1 billion in trading volume. However, it’s not a fair comparison considering the former was around longer than Shibaswap. Some parties may be more interested in Shibaswap’s influence on Shiba Inu prices.

DEX should encourage investors to hold SHIB and earn passive income. This bullish approach supported SHIB’s strong performance in Q3 2021. However, limited growth has had little impact on SHIB’s price. SHIB is trading at a significant discount from its current all-time high. It is worth noting that Shibaswap has had a positive impact on SHIB’s performance so far. However, the impact is quite limited compared to market forces. The strong growth of the Shibaswap ecosystem is likely to encourage more people to stake their SHIB.

Coinbase Plans

BlackRock has partnered with Coinbase to provide Aladdin’s institutional clients with direct access to cryptocurrency. The world’s largest asset manager will connect with Coinbase Prime, providing crypto trading, custody, prime brokerage, and reporting capabilities to Aladdin’s institutional client base. This is a big step for institutional crypto adoption and comes as crypto winter softens following the tragic collapse of DeFi and the Celsius protocol Terra/LUNA.

Coinbase Prime serves institutional clients, including hedge funds, financial institutions, asset allocations, corporate treasuries, and other institutions. According to BlackRock’s global head of strategic ecosystem partnerships, institutional clients are increasingly interested in exposure to digital asset markets. They are also focused on managing these assets’ operating cycles effectively. This connection with Aladdin will allow clients to manage their Bitcoin exposures directly from their existing portfolio management and in trading workflows across asset classes for an entire portfolio view of risk.

Coinbase Prime combines advanced agency trading, custody, core funding, staking and staking infrastructure, data, and reporting. This supports the entire transaction life cycle. Moreover, the crypto exchange follows best practices in security, assurance, and compliance to provide a full-service platform for institutions to access crypto markets at scale. The platform integration between Coinbase Prime and Blackrock will be rolled out in stages. Access will be available to institutions that have contracts with Coinbase and Aladdin.

Conclusion

It is worth noting that BlackRock is the largest asset manager in the world, with more than 8 trillion dollars under management. Institutional clients are increasingly interested in learning about digital asset markets and are focused on effectively managing these assets’ lifecycle. The partnership will allow them to manage their Bitcoin exposures directly within their existing portfolio management and trading workflows.

The industry has experienced numerous breaches, including attacks on Solana and Nomad this week. Crypto also fell amid a broader sell-off in risky assets, further hampered by the financial contagion from the Terra collapse in the spring. Many investors argue that institutional acceptance is the key to Bitcoin. Perhaps for the broader crypto market to mature, stabilize and increase in price.

Coinbase shares have been falling lately, and analysts weren’t sure why. On Wednesday, the stock rose by 20%. The stock then fell again, down nearly 70% for the year to Wednesday’s close. In addition, this week, the firm’s unusual jump could be linked to investors betting against the stock to cover their short positions. More than 22% of Coinbase shares available for trading are sold short. So, after the stock goes down, these investors have to buy back the stock to cover their losses, further increasing their profits.

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