Binance.US Launches Shiba Inu (SHIB) Trading
Shiba Inu Trading on Binance.US
Binance.US has officially launched trading for Shiba Inu (SHIB), the popular meme coin, providing users with a new avenue to invest in the cryptocurrency. This move entails the delisting of Kilo Shiba Inu (KSHIB), a related token previously used to facilitate SHIB transactions in U.S. dollars, with KSHIB equivalent to 1,000 SHIB.
Transition from KSHIB to SHIB
To streamline the trading process, Binance.US will convert all KSHIB holdings to SHIB, effectively delisting the KSHIB/USD trading pair and canceling pending KSHIB spot trade orders. Customers holding KSHIB will receive SHIB tokens at a conversion rate of 1 KSHIB to 1,000 SHIB, offering a seamless transition and reinforcing user investment security.
Shiba Inu Ecosystem
Within the Shiba Inu ecosystem, SHIB serves as the medium of exchange, supporting a decentralized finance (DeFi) platform known as ShibaSwap. This platform includes features such as liquidity pools, token swaps, NFTs, and voting rights within the DAO, enhancing SHIB's utility and appeal among investors.
Rising Popularity among ETH Whales
The Shiba Inu community has shown considerable excitement following this development, with data indicating that SHIB is now a top holding among the leading 100 ETH whales. These whales collectively possess over $645 million worth of SHIB, highlighting the token's growing influence and market presence.
Future Prospects for Shiba Inu
Shiba Inu has experienced significant growth at the start of the year, with a 54% increase in value. This surge is partly attributed to the anticipated launch of Shibarium, a native network proposed by SHIB developers. Additionally, SHIB investors are campaigning for the inclusion of Bone ShibaSwap (BONE) on Binance, which is set to be used for gas fees on Shibarium.
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