Giottus, a popular crypto exchange, has become the latest Indian cryptocurrency exchange to accept a dog-themed meme coin.
Giottus, an India-based cryptocurrency exchange, according to their official statement today. Shiba Inu (SHIB) opened a deposit. The same exchange also launched another meme cryptocurrency in mid-December. Floki Inu (FLOKI) Added support for
The exchange was launched in 2018 by entrepreneurs Vikram Subburaj and Arjun Vijay. Its establishment was highly criticized by the Reserve Bank of India (RBI); The exchange had a rough start to its business life soon after it ordered financial institutions to cut ties with companies and individuals dealing with cryptocurrencies.
Giottus was originally supposed to launch as a regular spot exchange, but the ban scuttled that plan before it even started. Later, the company had to start operating as a peer-to-peer exchange.
In 2020, the Indian crypto community won a major victory when the Supreme Court overturned the RBI’s ban and since then cryptocurrencies have become quite popular in the country.
Giottus managed to record significant growth in transaction volume and monthly postings after regaining banking support. The Chennai-based exchange reached a trading volume of $207 million in the last 24 hours.
Shiba Inu was also listed by major Indian exchanges like Unocoin, ZebPay and CoinDCX before Giottus.
According to ZebPay, India’s oldest cryptocurrency exchange, to The Times of India Shiba Inu (SHIB) and Polygon (MATIC), It was among the most traded altcoins on Indian stock exchanges in 2021. The two cryptocurrencies are currently head-to-head in terms of market cap. SHIB, which has entered the correction phase after experiencing impressive rallies in the past months, recently fell below MATIC and now ranks 14th with a market cap of $15.1 billion.
Meanwhile, the future of the cryptocurrency industry in the country remains uncertain. The Indian government ended December’s Winter Session without presenting the much-talked-about bill to regulate digital assets.
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