If you’re a crypto trader, then chances are that you’re always on the lookout to see when exchanges list new coins. In that case, you’ve probably been eagerly waiting for the popular crypto exchange, Kraken, to list the Shiba Inu coin. This comes after the exchange used its Twitter account to raise hype about the platform and SHIB.
But now, critics are saying that it was just a publicity move to gain attention from crypto fans. The platform recently Tweeted that if their tweet to list SHIB on the exchange would get enough likes, they would do it. However, they failed to live up to their promise, which upset the large community of Kraken uses.
The tweet came on Monday, stating that the crypto platform product lead for Kraken, Brian Hoffman, would list SHIB based on the trivial condition. It also said that he would get it done by the very next day, Tuesday, if the SHIBarmy, the name by which SHIB fans refer to themselves, managed to get enough likes. As of yet, the tweet has much more than the originally desired 2,000 likes. In fact, it has over 78,000 likes.
But even so, on Wednesday, traders couldn’t see SHIB listed on the platform, available for selling and buying. Nevertheless, the Kraken team responded with a follow-up tweet, in which they acknowledged SHIB fans’ demands ‘loud and clear.’ However, they elaborated that much more work needs to be done in the listing review process. Of course, this comes as no surprise. Exchanges must often go through a rigorous process of establishing a coin’s legitimacy before it can be listed on the platform. After the follow-up tweet, Kraken didn’t attempt to give a timeline by which SHIB fans can expect to see the crypto.
Various news outlets that report on crypto developments reached out to Kraken for comment, including Coindesk. However, even then, the exchange platform has nothing more to say except for what it had tweeted.
This move has angered many SHIB supporters on the internet and social media platforms. Twitter users are telling Kraken not to make false promises that it doesn’t intend to keep. They’re explaining that doing so will reduce investor confidence in the platform, as well as the crypto domain as a whole. More importantly, traditional investors may draw a comparison between the professionalism of new, edgy crypto exchanges versus the typical ones.
Although a large chunk of SHIB’s trading volume primarily lies in DeFi, it is very common among the retail investors on various centralized exchanges. As of yet, OKEx, Coinbase, and Binance are among the top exchanges with the highest SHIB trading volumes.