Hindustantimes wants to start sending you push notifications. Click allow to subscribe

Shina Ibu's market value tops $23 bn; higher than Adani Enterprises, Tata Steel

Over the weekend, Shina Ibu became the eleventh-largest cryptocurrency in the world.
The Shiba Enu coin
Published on Oct 27, 2021 05:39 PM IST
Byhindustantimes.com, New Delhi

Shiba Inu, a decntralised cryptocurrency created in August last year by an anonymous user going with the pseudonym “Ryoshi,” witnessed another all-time high, of $0.0000593, on Wednesday, as its overall market value surged to $23.4 billion. With this, its market cap is higher than that of Indian companies such as Adani Enterprises, JSW Steel, Tata Steel, Tech Mahindra and HDFC Life, according to a media report.

Also Read | Elon Musk wants a Shiba Inu puppy, ‘ready to be Doge father’, say netizens

According to the report, published in the Business Insider, the corresponding figures for the Indian companies are as follows: $22.9 billion (Adani Enterprises), $22.4 billion (JSW Steel), $21.9 billion (Tata Steel), $21.05 billion (Tech Mahindra), $20.35 billion (Adani Ports), and $18.80 billion (HDFC Life).

The development comes amid Shiba Inu, also known as SHIB, becoming the eleventh-largest cryptocurrency in the world, a distinction it achieved over the weekend. The surge also led to a petition being listed on Change.org for Robinhood Markets Inc. to add the coin to its platform. “We're carefully considering adding new coins to our offerings. We feel very good about the coins currently listed on our platform, and any new coins that we add, we want to feel equally well, if not better about it,” Vladimir Tenev, the chief executive officer (CEO) of Robinhood said on the petition, which currently has more than 326,000 signatures.

RELATED STORIES

Also Read | Shiba Inu zooms to record highs, becomes 11th-biggest crypto coin

Headquartered in Menlo Park, California, Robinhood is known for pioneering commission-free trades of, among others, cryptocurrencies. Last month, Coinbase Global Inc, another American cryptocurrency exchange platform, added the Shina Ibu token.

(With agency inputs)

 

SHARE THIS ARTICLE ON
Recommended For You
This site uses cookies

This site and its partners use technology such as cookies to personalize content and ads and analyse traffic. By using this site you agree to its privacy policy. You can change your mind and revisit your choices at anytime in future.

OPEN APP