A recent SEC filing revealed a surprising trend at a popular trading platform: its users collectively hold more Shiba Inu (SHIB) than Ethereum (ETH) or Bitcoin (BTC), signaling strong support for the coin phenomenon by traditional investors. .
Shiba Inu overtakes Bitcoin and Ethereum
THE deposita Form 15-12G/A showing beneficial ownership, details that Webull, a commission-free trading platform popular with retail investors, held a staggering $111,676,210 worth of Shiba Inu for its users as of December 31, 2022. This figure exceeds that of the platform. holdings of Ethereum and Bitcoin, which stood at $102,949,973 and $79,375,901, respectively.
It is important to note that Webull, as a trading platform, holds these tokens on behalf of its users, not as an exclusive direct investment. The filing classifies these assets as “save assets“, with a corresponding “safeguarding responsibility” to its users, indicating that while Webull facilitates the trading and custody of these assets, it recognizes the obligation to return them to their rightful owners, the users.
A new trend in retail investing
Webbullheadquartered in New York, is a commission-free trading platform that has gained immense popularity among retail investors, particularly millennials and generation Z. The platform offers a user-friendly interface and access to a wide range of assets, including stocks, ETFs. , options and, increasingly, cryptocurrencies.
The significant amount of SHIB tokens now held on the platform paints a picture of a trading platform deeply tied to the burgeoning market. coin market. The numbers speak to a growing trust among users, or at the very least, a calculated bet on the continued popularity of these unconventional digital assets.
The Shiba Inu’s Evolving Ecosystem Beyond the meme
Although often grouped with other meme coins, Shiba Inu has actively developed its own coin. ecosystema factor that could contribute to its growing appeal. The launch of Shibarium, a Layer 2 scaling solution, and the introduction of a myriad of initiatives, are all part of a broader strategy to create a more robust and functional platform. These developments suggest an attempt to move beyond the “coin” label and make Shiba Inu a serious contender in the decentralized finance space.
A sign of the times: increasing interest from retail investors
The increase in assets of SHIB on Webull also reflects a broader trend of retail investors exploring the cryptocurrency market. Although Bitcoin and Ethereum remain the dominant forces, growing interest in assets like Shiba Inu indicates a desire to explore a broader spectrum of digital currencies, particularly those with strong community support and active development .
As the lines between traditional finance and the crypto world continue to blur, Shiba Inu’s significant holdings on Webull raise intriguing questions about the future of meme coins and their place in the broader financial landscape.
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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be considered financial advice. The Shib Daily is an official media outlet and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult a qualified financial advisor before making any investment decisions.
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