OKEx Announces Listing of Shiba Inu’s SHIB Token

OKEx announced on Tuesday the listing of SHIB, the first native crypto asset of the Shiba Inu network. According to OKEx, deposits of SHIB opened over the weekend, and the token can now be traded against USDT on the OKEx spot and perpetual swap markets. Withdrawals opened at 10:00 am UTC on May 10th. OKEx claims that it is the first major exchange to list the token.

OKEx further reported that SHIB, also known as a “meme coin,” has notably emerged as a top 30 cryptocurrency by market capitalization.

“With the goal to ensure a fair distribution of tokens, the founders put away 50% of the total SHIB supply in Uniswap, while the rest were burned in honor of Vitalik Buterin, one of the co-founders of Ethereum. SHIB is the first cryptocurrency token to be listed and incentivized on ShibaSwap — the Shiba Inu project’s own decentralized exchange.”

Speaking about the listing, OKEx CEO, Jay Hao, stated:

“I appreciate their experimental spirit, which is exactly what the blockchain and crypto space needs. As an exchange, we are delighted to be able to offer a diverse portfolio of cryptocurrencies, including memetic tokens, to allow a comprehensive investment experience for our valued customers. The Shiba Inu community has been gaining strong momentum from the weekend deposits, and we look forward to witnessing its robust development.”

The listing of SHIB comes less than a month after OKEx announced it has listed Celsius Network’s CEL token on its cryptocurrency and derivatives exchange. OKEx reported it is the third global exchange to list CEL token in recent weeks, in addition to several decentralized exchanges, since CEL token’s first listing in June 2019CEL is notably the native ERC-20 utility token of Celsius.

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