BITPoint will give away hundreds of millions of SHIB to celebrate the token’s listing on the exchange

Old and new users of the platform will be able to get meme coins by participating in the promotion

24.11.2022 - 15:15

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2 min

What’s new? BITPoint, Japan’s largest cryptocurrency exchange, has announced a promotion to celebrate the listing of the Shiba Inu (SHIB) meme coin, which will take place on November 30. After adding the token to the platform, BITPoint will give away several hundred million SHIB to old and new platform users who fulfill the terms of the promotion.

Promotional terms and conditions on the BITPoint website

What else is known about the promotion? According to the terms and conditions, the exchange will give away 1 million SHIB (about $9) to each new customer if they register before the end of December. Another 100 million SHIB ($900) will be given away for purchases over 10 000 yen (about $72). And 230 million tokens ($2700) will be given to subscribers on Twitter and participants of the quiz from the exchange.

SHIB support on BITPoint is the first listing of the meme coin on a major Japanese centralized exchange (CEX). The asset reacted to the news with a slight increase of 1,3%. SHIB is trading at $0,000009 as of November 24, 14:45 UTC (Binance’s data).

In November, crypto exchange Crypto.com began publishing data on the composition of its reserves in real-time. The platform holds $2,8 billion in digital assets on its balance sheet, with the share of SHIB at 18,01%.

In July, Shytoshi Kusama, the chief developer of SHIB, announced plans to launch the algorithmic stablecoin SHI by the end of 2022. Kusama added that the developers are taking into account all the problems faced by previously released stablecoins, highlighting, in particular, the TerraUSD (UST) crash.

What is known about Shiba Inu? It is an Ethereum blockchain-based token issued under the ERC-20 standard. It was launched by an anonymous individual or group of developers under the pseudonym Ryoshi in August 2020 as an alternative to Dogecoin (DOGE), the mascot is also a Shiba Inu dog. In Q3 2022 SHIB became the second most popular among investors, the number of holders increased by 269% compared to 2021.

To learn more about ways to earn money on meme coins, see GetBlock Magazine’s article.

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