The world’s largest cryptocurrency exchange is staking trillions of Shiba Inu (SHIB) tokens as dog-themed assets provide updates on upcoming Layer 2 projects.
According to data from whale research platform WhaleAlert, Binance Sent A staggering 4 trillion Shiba Inu worth about $35 million at the time of writing have been sent to an unknown wallet for staking purposes.
Binance Move Comes After Shibarium Developer announced Bone ShibaSwap (BONE) will become the official digital asset used to operate the blockchain, each transaction of which will burn a SHIB token, according to Shibarium Network, the soon-to-be-launched Layer 2 scaling protocol for SHIB. new update.
“In my last post, I wanted to remind everyone that BONE functions as a gas token required for operability within Sibarium, but it’s also official that SHIB is burned for each Sibarium transaction. I would like to make an announcement.”
After BONE was selected as the official crypto asset of the Sibarium Network, its price soared by more than 30% in just a few days. BONE climbed from a weekly low of $0.916 on Jan. 4 to $1.19 on Jan. 9, up nearly 30%.
The crypto has since bounced back, trading at $1.14, while SHIB is valued at $0.000009 at the time of writing, down 3.6% over the past 24 hours.
No official release date has been set, but Sibarium To tell Traders should pay attention to the beta release of the protocol.
“We are concentrating [on] Stay tuned for more information and an upcoming beta release. ”
Don’t Miss a Beat – Subscribe to get encrypted email alerts delivered straight to your inbox
Price action confirmation
Please follow us twitter, Facebook When telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.
Generated image: In the middle of the journey