Binance.US just ditched a coin that’s designed to be mathematically pegged to Shiba Inu, deciding instead to launch full support for the native crypto asset SHIB.
The US-based crypto exchange initially supported Kilo Shiba Inu (KSHIB), which is equivalent to 1,000 Shiba Inu (SHIB) tokens and designed to make it easier to buy SHIB with the US dollar.
Flash-forward to today, when Binance.US has now officially launched support for SHIB/USD and ended its support of KSHIB/USD.
Trading is now available for $SHIB / $USD on #BinanceUS!
@Shibtoken's are the medium of exchange within the #Shiba Inu ecosystem, which includes ShibaSwap, a #DeFi platform, that features liquidity pools, token swaps, #NFT’s, voting rights within the DAO, and more.— Binance.US ?? (@BinanceUS) February 24, 2023
Customers who invested in KSHIB will see their holdings automatically converted.
“KSHIB/USD trading pairs [are] delisted and all pending KSHIB spot trade orders will be canceled…
All customers currently holding KSHIB will receive converted SHIB distributions at a ratio of 1 KSHIB = 1,000 SHIB.”
Shiba Inu has witnessed an explosive start to 2023 as the crypto project prepares to launch its own custom layer-2 blockchain on the Ethereum network called Shibarium.
SHIB started the year at $0.00000814 and has climbed to $0.00001253 at time of publishing, representing a 54% increase.
This month, investors created a petition to get Bone ShibaSwap (BONE) added to Binance’s network of global crypto exchanges. The petition has gathered more than 2,000 signatures at time of publishing.
BONE will be a core part of Shibartium and will be used to pay gas fees on all transactions.
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Featured Image: Shutterstock/Viacheslav Kuzmych/INelson
