In a significant move for Shiba Inu (SHIB), Binance, one of the world’s largest cryptocurrency exchanges, has announced that it will move SHIB out of its Innovation Zone on April 18.
The exchange will also move three other tokens, Frax Share (FXS), Trust Wallet Token (TWT), and 1inch (1INCH), out of the Innovation Zone at the same time.
Binance created the Innovation Zone as a secure platform for users to trade new and innovative projects while managing their risks.
The exchange periodically reviews the projects listed in the Innovation Zone to identify those that demonstrate their value and meet the high standards expected by Binance.
Criteria considered during these reviews include the commitment of the team to the project, development activity, trading volume, liquidity, network stability, and contributions to a healthy and sustainable crypto ecosystem.
The decision to move SHIB out of the Innovation Zone serves as a vote of confidence in the token’s future, as it has demonstrated its value and potential for long-term growth and sustainability in the crypto ecosystem.
SHIB is one of the most popular meme-based cryptocurrencies and has attracted attention and investment over the past few years. Its market cap currently sits at $6.7 billion, according to CoinGecko data.
The move out of the Innovation Zone may further solidify SHIB’s position in the market and attract more investors.
Binance reassured users that other services related to the tokens would not be affected by the move. The exchange remains committed to promoting transparency and long-term, sustainable growth in the crypto ecosystem, and the decision to transition these tokens highlights the progress made by these projects.
