Shiba Inu Coin, the native currency, has been traded in enormous quantities, according to market observer Whale Alert. The transaction was recorded as “4,642,530,677,374 SHIB (38,057,145 USD) transferred from unknown wallet to unknown wallet.” Reads the post from Whale Alert. The action comes in response to a recent blog post by Shytoshi Kusama, a Shiba Inu developer using a cloak identity.
Kusama emphasized in the article that Shiba Inu
Shib approached the Polygon team for support during the trying time, and Kusama said the team didn’t hesitate and “helped provide additional resources to ensure a perfect outcome to the situation.” We made the right decision to fork Polygon because of this pivot.
Shibarium activity has room to grow
The network currently has around 900,000 addresses and 73,650 daily transactions, according to Shibarium Explorer. On August 25, there were over 130,000 registered transactions, marking the peak in traffic. The total value locked (TVL) on Shibarium is currently $1.23 million, with network utilization barely at 33%.
CryptoCaster Quick Check:
This demonstrates that Shibarium is still in its early phases even if it may seem insignificant in comparison to the $37 billion of the TVL across the DeFi ecosystem, according to DeFiLama. Shibex, LeetSwap, ShibFi, ChocoInu, and BoneDex are the other eight protocols. Of the nine, DogSwap is by far the largest Dex, having a TVL of nearly $687,000.
What’s Next for SHIB?
It should be noted that exchanges are still adding perpetual SHIB listings. As an illustration, the well-known exchange BitMEX declared on August 29 that it would be offering two everlasting listings that contain SHIB. The pairs, which allow for up to 33x leverage, will be SHIB and USD as well as SHIB and USDT.
Traders can speculate on asset prices without an expiration date using perpetual futures contracts, or “perps,” which mimic the accessibility and profit-making potential of the spot crypto market. However, they carry significant hazards, necessitating a detailed understanding on the part of traders.
According to information from CoinMarketCap, SHIB was trading at $0.0000076 at the time of writing, down 2.42% on the day. SHIB appears to be part of a bigger market sell-off that is probably connected to the uproar the SEC has sparked by further delaying the approval of a Bitcoin ETF, which sent several other assets plunging.
We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism.
From Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.
And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.
When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble.
Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.
We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.
Please Read Essential Disclaimer Information Here.
© 2022-2023 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Wallet Coin/Token Addresses Below.
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt