Shiba Inu token ($ SHIB) lands on South Korean crypto exchange, returns Crypto.com coin ($ CRO)

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The cryptocurrency based on Shiba Inu memes ($ SHIB) started trading today on a popular crypto exchange in South Korea.

On Monday, November 22, Coinhako, one of Singapore’s oldest crypto trading platforms, rolled out the red carpet for members of the Shib Army:

The next day, Korbit, one of South Korea’s oldest crypto exchanges, announced that it would soon be listing $ SHIB (as well as $ INJ, the native token of Injective Protocol).

According to Crunchbase, the Korbit crypto exchange, headquartered in Seoul, was founded in July 2013 by Kangmo Kim, Louis Jinhwa Kim, Tony Lyu.

Here’s how the notice on Korbit’s website regarding the new list described the Shiba Inu project:

“SHIB is inspired by Dogecoin. Last August, the anonymous developer Ryoshi developed the motto “Experiment in decentralized governance”. Although he claims to be a Dogecoin killer as much as he compared Dogecoin, there are a few important differences except that it is a coin with a pet dog as its mascot.

“First of all, since Shibinu is an Ethereum-based ERC-20 token, it can be easily integrated into the Ethereum ecosystem and can be used in a variety of ways. A decentralized exchange (DEX) called Shiba Swap is up and running, and on top of that, a Shibainu incubator that sponsors artists, and an NFT collection that can be purchased with Shibainu tokens have also been launched.

“Second, unlike Dogecoin, which operates on its own mainnet, which is a derivative of Litecoin, Shibinu benefits from the Ethereum network which has been verified for security.

“Third, Sibainu has been distributed evenly using Uniswap’s cash pool. As a result, Etherscan confirms that token holders are well decentralized.

The $ SHIB started trading on Korbit at 03:00 UTC (or 12:00 KST) on November 25.

On June 1, as reported by The Block, Korbit launched the first non-fungible token market ((NFT) in South Korea.

Korbit CEO Oh Se-jin said:

“The local NFT market is still in its infancy relative to global markets, and the Korbit platform will help create synergy between the blockchain ecosystem and various industries including art, visual media and games. . “

According to data from CryptoCompare, currently (at 1:00 p.m. UTC on November 25) the $ SHIB is trading around $ 0.0000403, up 4.34% in the last 24 hours.

This means that $ SHIB took over 12th place from Crypto.com Coin ($ CRO), which until today has seen a rally following the announcement of Crypto.com’s 20-year sponsorship deal with the owners of iconic Los Angeles sports. area formerly known as Staples Center.

Disclaimer

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptoassets carries a risk of financial loss.

Image credit

Image presented by “Seoulinspired” via Pixabay

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