Shiba Inu’s layer-2 Shibarium has just received an unprecedented boost, with major cryptocurrency exchanges like Gate.io, OKX, and EarnBIT announcing their support. The groundbreaking development was spearheaded by EarnBIT’s pioneering integration, underscoring a strong belief in the transformative potential of Shibarium within the decentralized finance [DeFi] space. EarnBIT’s strategic move is expected to bring about improved transaction speeds and substantially reduced fees, a development eagerly awaited by both users and investors.
The crypto platform also announced the listing of the SHIB token, which is now usable for transactions at numerous establishments. Additionally, EarnBIT allows users to effortlessly buy, sell, or exchange SHIB with trading fees as low as <0.2%.
Following suit, top crypto exchange Gate.io, renowned for its extensive range of cryptocurrencies, has joined the Shibarium support rally. This backing from one of the world’s biggest digital asset trading platforms emphasizes the popularity of Shibarium to enrich DeFi offerings, indicating a promising future for the Layer 2 solution within the broader digital currency market.
Adding to the wave of endorsements, OKX, a significant player in the crypto exchange market, has expressed its enthusiasm for supporting Shibarium. The exchange highlighted Shibarium’s innovative technology as the primary driver behind its decision. OKX’s endorsement solidifies Shibarium’s growing influence and technological advancements.
This collective support from major exchanges stands as a monumental victory for the Shiba Inu community. It not only validates the potential of Shibarium but also opens up new opportunities for traders and investors seeking enhanced DeFi experiences.
Shiba Inu Community Reaction
The Shiba Inu community has erupted with excitement in response to this news, expressing widespread anticipation across various social media platforms. Many see this as a pivotal moment for Shibarium and the broader Shiba Inu project, signaling a new chapter of growth and development.
As Shibarium gains momentum, the backing from EarnBIT, Gate.io, and OKX marks a crucial turning point in its journey. The development comes amidst popular cryptocurrency exchange Uphold preparing to remove several altcoins, including Shiba Inu and DOGE, among a total of 10. Meanwhile, SHIB exhibited an interesting trend when it shed a zero from its market price, a pivotal milestone historically linked to significant bull runs for SHIB. Another noteworthy aspect contributing to this bullish sentiment was the discernible movement of large holders, commonly known as whales.
As reported by TronWeekly, a substantial outflow of SHIB tokens from Binance was identified. Recent data obtained from Lookonchain showed that over the past month, four wallets belonging to these investor cohorts managed to amass a total of 2.4 trillion SHIB, equivalent to $24 million, and subsequently withdrew these assets from various exchanges.