Sam Wisdom Raphael
Top cryptocurrency exchange Bybit introduces a new Shiba Inu trading pair with the Euro (EUR) as it looks to expand trading options for SHIB investors.
Bybit announced the new trading pair on X today. In the disclosure, the platform confirmed plans to list 12 new EUR pairs against various cryptocurrencies in the spot market, embedding a link to the official announcement for further details on the development.
📣 #Bybit will list 12 new EUR Trading Pairs including PEPE/EUR, WIF/EUR, SHIB/EUR, and NEAR/EUR, etc. on the Spot trading platform!
All pairs will also be available to trade via Spot Grid Bots when listed.
🌐 More Details: https://t.co/nGsPPWXItP#TheCryptoArk #BybitSpot pic.twitter.com/RSUbI9rlml
— Bybit (@Bybit_Official) July 8, 2024
Bybit Adds New Shiba Inu Pair
Information from the release indicates that the platform plans to list four new EUR trading pairs on three different days. Specifically, these EUR pairs will be available against other crypto assets on July 8, 10 and 12. Shiba Inu Inu features prominently among the trading pairs for today, July 8.
Notably, besides Shiba Inu, the exchange also disclosed intentions to launch EUR trading pairs against Pepe, Near Protocol and dogwifhat today. A quick look at the platform confirms that Bybit has already added support for these trading pairs at press time.
The SHIB/EUR pair has spiked 54.95% upon its introduction, with Shiba Inu currently trading for €0.00001534. The asset initially spiked to a peak of €0.00001572 but has since corrected to the current level. Five hours after listing, the pair now boasts a trading volume exceeding 511.2 million SHIB.
Bybit’s Extensive Support for SHIB
Following the latest development, Bybit now supports three Shiba Inu trading pairs on the spot market. The other two pairs are SHIB/USDT and SHIB/USDC. Also, the exchange grants its customers exposure to SHIB1000USDT and SHIB1000USDC perpetual futures trading pairs.
Data confirms that the SHIB/USDT trading pair on Bybit commands 1.97% of the global Shiba Inu trading volume. Notably, this pair has a 24-hour trade volume of $10.14 million, much lower than the $106 million figure recorded by the SHIB/KRW pair on Korean excavator Upbit.
Bybit first listed Shiba Inu in December 2021, two months after the meme coin reached its all-time high. Since then, the platform has continued to expand support for SHIB and introduce campaigns aimed at fostering engagements. They then went on to introduce the SHIB/USDC pair in August 2022.
The platform announced in April its integration of Google Pay for seamless crypto purchases. This development allowed investors to procure assets such as SHIB with their Google Pay accounts. Bybit currently holds 2.26 trillion SHIB worth $36.38 million in its Proof of Reserve (PoR).
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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