One of the leading Australian cryptocurrency exchange, TimeX, announced on Wednesday it has added support for users to trade the native digital currency of Shping, a Melbourne-based innovative shopper marketing and brand protection platform.
This is perhaps, a milestone for the company and its millions of users, as more exchange listing would make the cryptocurrency more accessible, and also create room for adoption.
Shping Coin now Listed on TimeX
According to the update from TimeX, the cryptocurrency is available for trading on the platform with two crypto-to-crypto trading pairs. These include SHPING/.ETHEREUM and SHPING/ AUDT. At the time of writing, the cryptocurrency was trading at the price of US$0.00003193 on Coinmarketcap. The Shping coin still has a low trading volume and market capitalization of $47,357 from a circulating supply of 1,483,041,697 coins.
This cryptocurrency was launched in the market in 2018 through the process of initial coin offering or ICO. According to the information provided by ICO Bench, the company behind the cryptocurrency bagged more than US$6.6 million from the offering.
When Coinmarketcap began tracking the Shping coin on October 11, 2018, it was trading at US$0.000313, which is lesser than the ICO price at US$0.0100. Meanwhile, the coin later reached an all-time high of US$0.0009726 on Coinmarketcap on May 12, 2019.
After reaching that peak, the crypto has been sliding, as seen in the chart below.
Shping Coin Use Case
Shping runs a reward program for its users, which is powered using the cryptocurrency. With over 20 million supported products, the company basically allows customers to learn more about any product they wish to buy. By doing so, as well as performing other activities, they are rewarded with the Shping cryptocurrency, which can be converted to cash on exchanges.
Aside from TimeX exchange, the digital currency is also supported by exchanges like Coinbinhood, IDEX, and Livecoin.