Crypto exchange Binance has added a new SHIB trading pair, SHIB/GBP. Crypto traders can now take advantage of the mean reversion trade gained by both assets being pitted against each other.
Binance initially listed Shiba Inu in May 2021, making history as one of the first major crypto exchanges to embrace the meme cryptocurrency. Binance.US, the company’s U.S.-based subsidiary, launched SHIB trading in September last year. In February 2022, Binance Custody, the custodial arm of the cryptocurrency giant, added support for Shiba Inu as well as some other crypto assets.
To encourage SHIB trading on its platform, top cryptocurrency exchange Binance announced a giveaway of over $100,000 in SHIB for new users, allowing them to earn free Shiba Inu (SHIB) tokens in March.
Shiba Inu has seen numerous listings since 2021, launching on several major exchanges such as Gemini, Kraken and Coinbase. In April, brokerage app Robinhood listed Shiba Inu, to the delight of the Shiba Inu community that had worked for it to be listed. A change.org petition in favor of the listing had amassed nearly 600,000 signatures.
Shiba Inu recent developments
The Shiba Inu burn portal continues to gain momentum. According to reports, a historic 25 billion SHIB has been burned since the portal started operations in the past week. Shiba Inu holders may be able to receive rewards for burning SHIB tokens starting from May 17, a recent announcement reads.
The Shiba Inu team also announced that land can now be bought with the Shiba Inu token in SHIB: The Metaverse. This, it says, was done based on community feedback, while sharing details of minting lands with SHIB in a posted tweet.
Shiba Inu (SHIB) remains the top asset “hodled” by the top 1,000 ETH whales. These whale addresses currently hold $1,280,237,629 worth of SHIB. Shiba Inu has gained nearly 5,000 holders within days as this metric count reflects growth. The total number of SHIB holders is currently 1,144,159, according to WhaleStats.
Gucci, one of the famous fashion brands, will start accepting Shiba Inu and some other cryptocurrencies at select locations in North America, according to a report published by Vogue Business.