Time for some Shiba Inu news. More and more tokens are being decommissioned, an exchange has been added, and the community is waiting for the launch of Shibarium, but there may be some bearish news as well. The bankrupt Voyager still has his pockets full of Shiba Inu.
Shiba Inu at dead address
One trick used by cryptocurrency projects to ensure that their cryptocurrency becomes scarce is to simply burn cryptocurrency. No, they don’t do this with real fire, but by sending them to a wallet that no one can access.
Shiba Inu is still using the Ethereum blockchain and has since retired over 400 trillion SHIB tokens by sending them to a dead Ethereum address.
By the way, the decommissioning of the Shiba Inu started in 2021. Vilatik Buterin, the creator of Ethereum, burned 90% of all his Shiba Inu and sent the rest to charities. Since then more and more Shiba Inu have been slowly phased out.
Added another scholarship for Shiba Inu
You can of course already buy Shiba Inu at BLOX, and another batch has been added. Obviously, the more places SHIB can be traded, the better it is in terms of notoriety and perhaps price. BTC has announced Offering six new currencies, including Shiba Inu.
On its own, BTCC has a daily trading volume of $9 billion, so it is not a small player. This exchange used to be known as the first and only Chinese cryptocurrency exchange.
The exchange was founded by Bobby Lee, not surprising if you have been in the cryptocurrency world for a while. He also developed Wallet Ballet.
Will Shiba Inu Get Its Own Blockchain?
Last week, Shibarium’s development team reported that intake had begun. Shibarium will be the so-called second layer on the Ethereum blockchain.
At the moment Shiba Inu’s encryption runs directly on the Ethereum blockchain, they do not have their own blockchain. The Ethereum blockchain has many advantages, but also disadvantages, including an average of 12 transactions per second and high transaction costs.
Shibarium aims to reduce network congestion at the main level and bring investors and companies to this second level. Think of a traffic jam on the highway, where cars are diverted to other roads to avoid the crowds. Only during this distraction can they also eat, work and play with cryptocurrencies.
Unfortunately for investors, there is also less news to report, which could be very bearish for the price.
Voyager can sell trillions of Shiba
Corresponding look at chain Bankrupt cryptocurrency exchange Voyager continues to sell its assets and has reportedly sold a significant portion of its holdings in SHIB. Despite this, it still holds a hefty amount of 5.17 trillion SHIB to be exact. That’s worth about $54 million at current Shiba Inu prices.
The situation raises questions about what this means for the SHIB futures price. Some speculate that the lender is waiting for a more favorable market before selling his remaining coins, while others believe there are other factors at play.
When in doubt, the advice is to see what the numbers and the money do. Last week, Voyager shipped two Shiba Inu to crypto exchange Coinbase. The first time was 2.24 trillion SHIB and the second time was 300 billion SHIB. This involves tens of millions of euros.
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Source: Btc Direct
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
