Binance is the largest cryptocurrency exchange in the world by market cap and trading volume. The exchange has recently gained its 7th license in the EU region, becoming a certified crypto exchange in Sweden.
In the latest development connected to the meme currency Shiba Inu token, Binance has staked around 4 trillion of these meme coins recently.
The data projections from WhaleAlert have reported the latest projections confirming that the Binance exchange has staked massive amounts of Shiba Inu tokens.
The total amount of the meme currency staked is valued at about $35 million at the current price. The 4 trillion Shiba Inu have been sent to an anonymous digital wallet address for staking.
The developers of the Shiba Inu token have announced the addition of a new update for the Shiba Inu project. The layer two blockchains of the Shiba Inu token are called Shibarium Network, as per the latest details. The official digital currency of Shibarium is going to be Bone ShibaSwap or BONE.
BONE will help in operating the blockchain, and it will start burning SHIB tokens with each new transaction. The developers have issued a statement that claims that BONE is going to operate as a gas token within the Shibarium layer-2 solution. Following the announcement of Shibarium, the price of the BONE tokens has increased by 30%, reaching $1.19.
The meme currency traders are eager to hear about the official debut date of the Shibarium project. However, the developers have yet to confirm a formal date for the public launch. On the other hand, the devs have also instructed the traders to keep an eye out for the beta launch of the said project.
The price of the SHIB token is currently $0.000009 at press time, with a decline of 3.6% during the last 24 hours. The devs have told the media that they are currently focusing on completing the project as soon as possible. They have also told the meme currency traders to stay tuned and be on the lookout for the beta program.