Shiba inu

Crypto.com Launches SHIB Strike Options: Here’s How It Works

  • Popular American crypto platform Crypto.com adds Strike Options for SHIB.
  • The unparalleled Derivatives feature is based on multiple-choice predictions.
  • SHIB inked slight gains, while holders craved more Shibarium integrations.

Crypto.com, one of the most popular centralized cryptocurrency exchanges in the United States, has implemented an unprecedented feature for Shiba Inu (SHIB) trading. The new Strike Options are regulated by the Commodity Futures Trading Commission (CFTC) and provide a new perspective on Shiba Inu’s price movements.

These SHIB Strike Options are measured by 20-minute windows, in which customers can place their predictions on Shiba Inu’s price by simply answering ‘Yes’ or ‘No.’ According to the official statement from Crypto.com’s staff, the minimum investment for this Derivatives trading is $10.

Besides SHIB, customers can choose a wide range of cryptos for Strike Options, including Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Dogecoin (DOGE), Litecoin (LTC), Avalanche (AVAX), Polkadot (DOT), Chainlink (LINK), and Stellar (XLM).

After choosing SHIB, the SHIB Army members can decide if SHIB’s price movement will surpass the predetermined threshold by the end of the allocated time window. SHIB custodians on Crypto.com can choose between 20 minutes, two hours, and an intraday time frame.

Is Shibarium’s Integration the Next Big Thing?

While Shiba Inu custodians praised the popular American cryptocurrency exchange for its innovative trading features, many traders have highlighted the need for Shibarium’s integration into popular crypto platforms and cold storage devices.

Shiba Inu’s self-sufficient Layer-2 blockchain was integrated into two of the most popular cryptocurrency price aggregators, CoinGecko and CoinMarketCap (CMC), just a few days ago. This signifies the rising demand for Shibarium L2, which lately reclaimed $1 million in total value locked (TVL) after a two-month-long hiatus.

As the overall block production since the inception of Shibarium L2 now surpasses 3.3 million blocks, SHIB custodians are eager to see where Shibarium’s expansion takes the Shiba Inu Ecosystem’s tokens next.

On the Flipside

  • Shiba Inu’s lackluster price movement kept SHIB below the critical resistance level of $0.00001, unseen since February 16, 2024.
  • The resistance wall represents a high concentration of SHIB holders breaking even at this price, instilling sell pressure for SHIB.

Why This Matters

New trading options highlight the mass appeal for SHIB, while Crypto.Com is known to be one of the largest SHIB holders.

Read DailyCoin’s popular crypto news:
Here’s What Circle Pulling USDC from Tron Means for You
Coinbase Vouches for Grayscale’s Ethereum ETF Approval

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *