Wednesday, February 1, 2023
HomeCrypto NewsShiba InuBinance Unstaked 12.6T SHIB, then Restakes 4T SHIB on ShibaSwap 

Binance Unstaked 12.6T SHIB, then Restakes 4T SHIB on ShibaSwap 

- Advertisement -

Shiba Inu tokens (SHIB) with a canine motif were recently staked and unstaked in astonishing quantities by the largest cryptocurrency exchange in the world by trading volume.

Shibburn provides information on various SHIB staking transactions made by Binance.

Binance has pulled a sizable 12,661,395,600,288 (12.6T) SHIB tokens from the ShibaSwap decentralized exchange (DEX) staking pool, according to Shibburn, a Twitter account that monitors the burning of Shiba Inu. 

The top cryptocurrency exchange removed all 12,661,395,600,288 (12.6T) SHIB tokens from the ShibaSwap staking pool after Binance unstaked the dog-themed cryptocurrency. 

12.6T SHIB was worth the equivalent of $116.23M at the time of the deal.

Binance Later Restaked 4 trillion SHIB

The largest cryptocurrency exchange was still not finished, with SHIB staking on ShibaSwap despite withdrawing over 12.6T Shiba Inu tokens from the staking pool. 

Binance then restaked 4 trillion SHIB, or $36.28 million, on the platform, according to Shibburn. 

The exchange transferred the 4T SHIB tokens to an anonymous wallet before returning the assets to the ShibaSwap DEX staking pool.

According to the Shiba Inu burn tracker, a total of 18,116,515,603,375 (18.1T) SHIB is now staked in the staking pool. 

It’s important to note that Shibburn’s revelation comes as the burn tracker works to inform SHIBArmy members about the massive 4T SHIB tokens that Binance had earlier moved to ShibaSwap.

Reactions From Shiba Inu Community

The Shiba Inu community, meanwhile, responded to the news in various ways. SHIB BPP, a well-known Shiba Inu influencer, made the most critical remark. 

The Shiba Inu team released the DEX on the same day that Binance developed an active wallet on ShibaSwap, according to SHIB BPP. 

Binance uses the wallet to stake SHIB in the DEX’s staking pool, claiming rewards and giving the rewards to its users, according to SHIB BPP.

Read Also:

- Advertisement -
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -spot_imgspot_img

Most Popular