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Shiba Inu Update: 13th Biggest Whale Adds 56 Billion Shiba Inu Within 5 Days

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One of the largest crypto whales has added 56,847,794,190.19119 Shiba Inu coins to his wallet within the last 5 days. The crypto whale named “Tsunade” executed the purchase in two transactions.

Data from etherscan showed that 21,977,294,220.7811648252651631 Shiba Inu coins worth $722,453.28 were added to the whale wallet on the 16th of December, 2021, while 34,870,499,969.41003599 Shiba Inu coin worth $1,094,670.65 was purchased on the 20th of December 2021.

This sums the total holding of SHIB in the whale wallet to 1,856,847,794,190 Shiba Inu coins valued at $61,275,977.21.

In the past few weeks, there have been significant whale transactions on Shiba Inu coin. The crypto whale “Tsunde” had earlier added 72,266,047,517.25368 Shiba Inu coin on the 4th of December, 2021 before sending out 31,517,309,563.273655 Shiba Inu Coin on the 10th of December, 2021.

Another crypto whale with wallet address 0x2ee555c9006a9dc4674f01e0d4dfc58e013708f0 added 3,248,354,663,043.838 Shiba Inu coins on the 20th of december. This same whale wallet added 2,334,386,626,236.784 Shiba Inu coin in the last 24 hours, summing up the total SHIB in the wallet to 4,235,862,526,555.12845486428541742 Shiba Inu coins valued at $138,300,911.49.

Other crypto whale wallet with consistent transactions In SHIB within the last 24 hours was spotted, three of such wallet holds $150,114,701.41, $13,484,871.86 and $699,853.97 worth of Shiba Inu respectively.

At the time of writing, SHIB is trading at $0.00003258. Data from the WhaleStats website further revealed that currently, Ethereum whales most traded token on the etherum blockchain is SHIB

Shibarium In Progress

It has been reported that Shiba Inu developers are working on launching a layer 2 scaling solution named Shibarium. The Shibarium project was first proposed by Shiba Inu Creator, Ryoshi and announced to the Shiba community in October 2021.

Shibarium project will be built on the BONE token as its native token, not LEASH or SHIB, so as to give a fresh start to the layer 2 solution. In a medium post, Ryoshi said Shiba will have its own l2 soon (and no we are not partnering with or have zero association with Matic as rumor bois tried to spread, they are way too centralized and will always be so).

“The end goal is that SHI (operating both on ETH and the Shibarium) becomes a global stable currency that plebs across all countries are able to use as both a store of value and method of payment.

“We are working on so many aspects of Shiba Inu including Shibarium, Shi, Shibanet, The Decentralized Shiboshi Game, Incubator and much more that won’t become evident until the near future.”

ShibaSwap developer Eric M said also affirmed on Discord that Shiba Inu’s layer 2 solution, Shibarium, will launch soon. He said, those who trusted the project pre-swap were successful post-swap … A timeline is not needed when you trust a project. That’s how Shib has worked until now and will keep being like this.”

SHIB is an ERC-20 token and as a result, is troubled by the high fees and congestion on the Ethereum network. However, a layer 2 solution like Shibarium will reduce the huge gas fee on the Ethereum network.

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Cryptocurrency

Cryptocurrency Crash: It’s Not All Doom and Gloom

Research into cryptocurrency capital inflows has shown that about $140 billion is sitting in four of the leading stablecoins.

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Dollar Cryptocurrency - Investors King

Despite the cryptocurrency crash and rising global uncertainty, research into cryptocurrency capital inflows has shown that about $140 billion is sitting in four of the leading stablecoins as institutional investors that have been backing the cryptocurrency space in recent months assess happenings.

Capital inflow into dollar-pegged Tether’s USDT, Circle’s USDC, Binance’s BUSD, and MarkerDAO’s DAI has risen from $7 billion in the last 2 years to $147 billion in 2022, suggesting that cryptocurrency investors are not withdrawing their funds or converting to U.S. Dollar but sitting on the sideline for possible re-entry.

“The amount of money sitting on the digital sideline has never been greater and points to an abundance of patient investors ready to pounce on discounted digital assets,” Stated Digital Asset Investment Management (DAIM) analysts. “That means the ecosystem has an additional $140 billion ready to be deployed into bitcoin and altcoins.”

According to Louis Schoeman, managing director at broker comparison site Forex Suggest, we are currently experiencing the biggest crypto crash in history, with the crypto Fear and Greed index having slipped into “extreme fear” category.

However, it’s not all doom and gloom. Coins such as Bitcoin, Ethereum and Solana gained in their prices in the last 24 hours. Equity markets, too, recorded some gains including Nasdaq, the S&P 500 and Dow Jones Industrial Average.

“It’s worth noting that various coins including Bitcoin were heavily inflated in a bubble over the last 2 years, so a crash of this enormity was bound to happen. With investors dumping assets in response to high inflation and the semi-collapse of the Celsius network driving the downward spiral, I think only the best fundamentally strong crypto projects will survive this bear market, as is proving to be.

This is a cleansing process of note as we believe between 80% – 90% of the crypto projects will not survive this period especially if Bitcoin falls below $20,000 again.

But, it also serves as a massive opportunity for many no-coiners to enter the crypto market for the 1st time ever.

Fortune favours the brave in crypto right now.”

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Binance, the World’s Largest Cryptocurrency Exchange, is 5 Years Old Today

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, is celebrating its 5th anniversary by eliminating trading fees on a wide range of bitcoin spot trading pairs.

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Binance - Investors King

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, is celebrating its 5th anniversary by eliminating trading fees on a wide range of bitcoin spot trading pairs. While Binance has long maintained one of the lowest spot trading fees in the industry, it is establishing itself as the global leader in pricing with this latest move.

From July 8, users will be able to enjoy fee-free trading on thirteen stablecoin and fiat combinations including BTC/USDT, BTC/BUSD, BTC/USDC, BTC/EUR, BTC/TRY, and more. The new trading fees will be in effect until further notice, allowing Binance users globally to enjoy the fee-free feeling beyond the two weeks of anniversary celebrations.

Binance Founder and CEO “CZ” (Changpeng Zhao) said: “In line with our user-first philosophy, Binance has always strived to provide the most competitive fees in the industry. At its core, Binance is an inclusive platform with accessibility in mind. Eliminating the trading fees on selected BTC spot trading pairs is another move towards that direction.”

“Within the span of five years, Binance has amassed an amazing community that believes in us and supports our vision. Our growth and achievements would not have been possible without them. We hope to give back to the community by providing them with the world’s best products and services,” added CZ.

Binance launched in July 2017 as a crypto-to-crypto exchange and within six months, became the world’s largest crypto exchange. Today, Binance is a global blockchain ecosystem spanning across trading services, infrastructure solutions, educational resources, research, social good and charitable programs, investment and incubation initiatives, and more. By providing access to broad financial tools while maintaining one of the lowest fees in the business, Binance is making crypto accessible to everyone in Africa and beyond.

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Bitcoin, Other Cryptocurrencies Rebound on Thursday

Bitcoin, the world’s most dominant cryptocurrency, appreciated by 4.53% in the last 24 hours to take its gains to 12.64% in the last 7 days.

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The cryptocurrency space came alive in the last 24 hours to extend its gains for the week despite growing global uncertainties amid recession fears.

Bitcoin, the world’s most dominant cryptocurrency, appreciated by 4.53% in the last 24 hours to take its gains to 12.64% in the last 7 days.

In the last 7 days, Eth, the token of the Ethereum protocol, has gained 21.36% from about $1000 a coin it traded a week ago to $1,235.67 on Thursday.

Similarly, BNB extended its gains to $242.45, an increase of 1.40% in 24 hours and 14.33% in the last 7 days to underscore a possible shift in the financial markets towards cryptocurrency, especially with global assets, both traditional haven assets like gold and even risk assets like stocks, commodities, etc, trading at a record-low.

Bitcoin and other cryptocurrencies crashed after Luna stablecoin plunged from over $40 billion market value or $90 a coin to about $800,000 in market value or $0.00004 a coin. The huge decline and the speed in which it happens, three days, sent a shocking wave to the investment world and alerted people to the danger of investing in an unproven and regulated space like cryptocurrency.

However, seasoned traders have said it is not unique and newbies would have to learn that in cryptocurrency investing, there are bearish and bullish seasons. This, they attributed to the Bitcoin Halving, a process in which Bitcoin reward for miners is halved after every 210,000 blocks or four years.

Still, experts like Changpeng Zhao, the Chief Executive Officer of Binance and the richest cryptocurrency investor alive, had called on people to only invest in cryptocurrency projects with real-world use cases.

Popularly known as CZ and estimated by Bloomberg to have a net worth of $96 billion, had repeatedly said the cryptocurrency space is here to stay and encourages inventors and innovators to focus on solving real-life problems.

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