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One of the best-known and most popular investment platforms in the world, eToro, has been long involved with the cryptocurrency industry. Quite a while back, eToro recognized not only the potential of crypto but also the fact that the demand will eventually grow, which is why it added numerous assets to its platform.
Now, as adoption is growing, so does the crypto community, and many of its members have been requesting that eToro expands its list of supported coins, commonly requesting a number of popular coins to be listed. eToro actually agreed, and it started adding crypto assets based on demand.
SHIB comes to eToro
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The most recent coin to reach its platform is Shiba Inu (SHIB), popularly called a ‘Dogecoin Killer,’ as its community believes that Shiba Inu will someday replace DOGE as the crypto industry’s most popular digital currency. The coin’s popularity truly did skyrocket, as it managed to amass over 600,000 holders, despite its price action, which was not nearly as impressive.
To put this into perspective — around late April 2021, Shiba Inu had 132 million users. By the end of June 2021, that number jumped to 221 million users. The surge in the number of users is believed to have been caused by the listing of SHIB on platforms like Crypto.com. With that said, SHIB’s listing on eToro might result in similar growth, whether that means the surge of the coin’s user count, its price, or both.
eToro is a popular platform as it allows users to invest in many different assets. It also has a very low entry barrier, with the minimum investment being only $25. Plus, it deals with crypto and traditional assets alike, offering a way for traditional investors to approach crypto in an easy way, and vice versa. This is a great way for investors to diversify their portfolios by investing in top-performing and most popular assets.
So far, Shiba Inu’s price has not reacted in a positive way, although this might only be a matter of time, and it is likely that many investors will keep a close eye on the coin’s development, ready to react at any sign of a bullish change.