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eToro Listed Shiba Inu (SHIB) While ShibaSwap TVL Drops Almost 80% in Two Weeks

The multi-asset investment platform, eToro, which plans to go public later this year, has listed Shiba Inu (SHIB). The company argued that the decision came following substantial demand from customers.

  • Founded in 2006, eToro is an Israeli social trading and multi-asset brokerage company with offices in several European countries, the US, and Australia.
  • The firm announced the listing of Shiba Inu (SHIB) in a press release shared with CryptoPotato. The statement reads that the addition has come due to “strong customer demand.”
  • Users of eToro will be able to interact with the popular meme coin as “Shiba (in millions),” which is a “lot” of one million Shiba Inu units. According to the statement, this would provide customers with a “clearer understanding of the pricing in a regular, two-decimal-point format.”
  • The company recently outlined plans to go public later this year. It would become possible after a merger with a Special Purpose Acquisition Company (SPAC) with a total valuation of over $10 billion.
  • Back in May, eToro also listed arguably the most popular meme coin – Dogecoin. Shortly after, DOGE pumped to an all-time high at that point of about $0.5.
  • SHIB saw its record price in mid-May as its popularity skyrocketed. However, it has declined by more than 80% since then, even though the recently launched ShibaSwap DEX attracted billions of dollars in total value locked in just a few days after the launch.
  • However, the TVL has declined by nearly 80% since then to around $400 million as of writing these lines, according to data from DeFiLama.

   

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