Sat, November 23

Large SHIB Transfers from Unknown Sources: Identifying the Key Beneficiaries

Shibarium Transactions Surge But Faces Scalability Test Altcoin News
  • Anonymous wallets move 42 billion SHIB tokens ($327,600).
  • 14 billion coins taken from major exchanges, 2.4 billion sent to Binance 14 wallet.
  • Over 32 million transactions, mainnet to use BONE token for burning SHIB.

According to data from Etherscan, a significant amount of Shiba Inu meme coins has been transferred by anonymous wallets recently. Fifteen transactions were recorded, totaling 42 billion SHIB, which is approximately equivalent to $327,600.

Notably, around 14 billion SHIB were withdrawn from prominent cryptocurrency exchanges, including decentralized platforms like Kraken, Uniswap, and 1inch. Additionally, a considerable sum of 2.4 billion SHIB was transferred from anonymous addresses to a Binance 14 wallet, presumably for potential selling activities.

Shibarium hits new milestone

In other news, Shibarium’s beta explorer, Puppyscan, has reported a new milestone for Puppynet over the weekend. The platform has surpassed 32 million transactions, indicating a record high in terms of transaction count.

As of now, the number of connected wallets stands at 17,062,522. It is worth mentioning that all future transactions on the Shibarium mainnet, scheduled for release later this year, will rely on the BONE token for power. Moreover, part of the BONE gas fees will be utilized for burning Shiba Inu meme coins by transferring them to unspendable wallets.

Seasoned Crypto Content Writer, Editor and Journalist who entered the cryptocurrency industry out of sheer passion and love for writing.