Shiba Inu Price Surges High!
Most of the newly launched cryptos widely await for the listing on one of the popular exchange Binance. The coin gained huge traction as it surged magnificently since its inception on Uniswap Decentralized Exchange. The trading volumes were soaring with huge numbers hitting close to $13 billion. And hence Binance without missing the opportunity listed on its platform.
— Binance (@binance) May 10, 2021
The token underwent a huge spike on Uniswap exchange, yet fell at the same pace too. However, the coin was looked as the next DOGE of the crypto space. The community expects a similar or more accelerated bull run compared to that of dogecoin price rally.
At the time of writing, the SHIB price is $0.00002911 with a classic jump of 107.75%. Moreover the token also marked the all time high at $0.00003671 within minutes of listing on Binance.
Is DEX More Robust Compared To CEX?
The base on which the blockchain is built is carried on with the decentralized exchange as it maintains anonymity. However, centralized exchanges were preferred more as they have a huge user base. And any token listed on these exchanges surge with soaring prices within a small time frame.
In recent times, due to the enhanced growth and adoption of the DEX, and discovering the loopholes of CEX, the DEX trading volume has risen. Hence, the CEX like Binance, Huobi, etc fear missing the opportunity to grab the volumes, listed on their platform. As pointed out by a popular analyst and Managing partner of Moonrock Capital, Simon Dedic, uniswap is greater than CEX.
Binance listing $SHIB.
The prime example of why centralization doesn’t work.
Uniswap > all CEXs.
— Simon Dedic (@scoinaldo) May 10, 2021
The token has now acquired a huge platform with a gigantic user base and hence the SHIB price is expected to explode following listing on binance exchange. Moreover, the centralized exchanges acting fast on listing the performing assets, showcases the growing strength of the decentralized exchanges.