Crypto:
30188
Bitcoin:
$69.175
% 3.29
BTC Dominance:
%54.4
% 0.13
Market Cap:
$2.44 T
% 3.67
Fear & Greed:
74 / 100
Bitcoin:
$ 69.175
BTC Dominance:
% 54.4
Market Cap:
$2.44 T

Exploring Shiba Inu’s Nexo Listing: Potential Price Rally Ahead?

Shiba, Shiba Inu, Nexo

Shiba Inu (SHIB) has recently been listed on the Nexo platform, allowing SHIB holders to engage in various transactions such as buying, swapping, borrowing, and transferring SHIB, except for residents of the United Kingdom. This move is seen as a significant milestone for the Shiba Inu ecosystem, potentially boosting SHIB adoption.

Over the past six months, SHIB has seen increased attention, with multiple platforms, including a Japanese exchange, listing the Ethereum-based meme coin.

Speculation about a price surge accompanied these listings, fueled by expectations of higher adoption and demand. Following its listing on Coincheck, SHIB saw a price increase of 7.61%, generating excitement within the community. However, despite the recent Nexo listing, SHIB’s price remained in the red at the time of writing, trading at $0.00002681 with a 5% decrease over 24 hours. Nevertheless, there is optimism that SHIB could experience a significant uptick in price, with experts predicting potential gains of up to 70% in the coming weeks, citing improvements in the ecosystem fundamentals.

Nexo Obtains Dubai License, Expands Crypto Compliance

Meanwhile, Nexo, in addition to listing SHIB, recently obtained a license from the Dubai Virtual Assets Regulatory Authority (VARA). This move represents an expansion of Nexo’s services and signifies progress in overcoming regulatory hurdles. While not a full license, this initial consent marks a significant step forward for Nexo in its licensing process, signaling its commitment to compliance and expansion in the cryptocurrency space.

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