SHIB to List on DeFi Exchange Parex Tomorrow

AnalysisSHIB to List on DeFi Exchange Parex Tomorrow



Yuri Molchan

Shiba token to be added by Parex trading platform on April 20

Contents

Parex decentralized exchange spreads the word about its plans to start trading Shiba Inu tomorrow—on April 20.

Another trading platform lists SHIB

Two days ago, Parex exchange announced that it intends to launch Shiba Inu deposits and trading on its platform on April 20. The meme token will be paired against USDT.

Earlier this month, U.Today reported that several other exchanges around the world had added support for the Shiba Inu meme cryptocurrency. However, unlike those platforms, Parex is a decentralized crypto exchange.

Decentralized platforms allow for transactions to occur using the peer-to-peer technology securely without a third party acting as an intermediary.

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The launch of Parex was announced on March 23, according to Bloomberg. It was launched on myDexChain network using the DRC-16 protocol.

The platform is different from other exchanges as it has an in-built PRX token that is mineable and works using the Proof-of-Interoperability protocol.

The latter ensures that PRX can bridge to other blockchains, including Ethereum, Polygon, Polkadot, etc.

SHIB listed by Robinhood

Earlier this month, U.Today covered that Shiba Inu was listed by South African digital exchange VALR. Besides, the much-expected listing by the Robinhood trading app finally took place for the canine token SHIB.

Robinhood added Shiba Inu on April 12, along with three other popular altcoins: Polygon’s MATIC, Compound (COMP) and Solana (SOL).

That event pushed the SHIB price up over 20%. Still, it failed to even reach the October all-time high of $0.00008845. As of this writing, the token is changing hands at $0.00002513, which is 71.51% below that historic price mark.



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