Binance.US Archives - Times Tabloid

BinanceUS Shills Shiba Inu (SHIB)

Solomon Odunayo — Sun, 27 Oct 2024 07:21:47 +0000

In a recent development, Binance.US—the American arm of the global cryptocurrency exchange Binance—captured the attention of the Shiba Inu community by sharing key insights about the popular meme coin on X.

The post shared with Binance.US’s 461,300 followers presented “fast facts” about Shiba Inu, highlighting its origins, underlying technology, and devoted community.

Binance.US emphasized that Shiba Inu (SHIB), like Dogecoin, is a meme-based cryptocurrency inspired by the Shiba Inu dog breed. The token is built on top of the Ethereum blockchain and was launched four years ago by the pseudonymous founder Ryoshi.

Binance.US also highlighted Shiba Inu’s community-driven nature, reflecting its decentralized mission and grassroots approach from its earliest days.

#Binance US is shilling $SHIB. Probably Nothing https://t.co/JLp4VIKaMl

— $SHIB KNIGHT (@army_shiba) October 24, 2024

Shiba Inu Community Reactions and Requests

Following the social media post, excitement quickly spread throughout the SHIB community. Members reacted positively to the post, with SHIB Knight, a well-known community analyst, noting, “Binance US is shilling SHIB. Probably nothing.”

This sparked further discussions among SHIB supporters, who welcomed the exposure, but also took the opportunity to press Binance.US with new requests.

One common request from the community is for Binance.US to list BONE, another key token within the Shiba Inu ecosystem. BONE is used for governance and other utility functions within the Shiba Inu ecosystem, and its inclusion on the platform would broaden access for SHIB supporters.

Additionally, several community members have asked Binance to start implementing a SHIB burn mechanism using transaction fees collected from Shiba Inu trades on the platform. They believe such a move could help reduce SHIB’s substantial circulating supply, potentially impacting its value over time.

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The Growth of the Shiba Inu Ecosystem

Many supporters pointed out that the scope of the Shiba Inu project has expanded significantly beyond the initial summary offered by Binance.US. Although the token began as a meme-inspired cryptocurrency, the project has evolved into a comprehensive ecosystem with varied components.

With Ryoshi, the founder, no longer active, Shiba Inu is now under the guidance of developer Shytoshi Kusama. Under Kusama’s leadership, SHIB has achieved major milestones, including the creation of a dedicated blockchain, Shibarium.

The Shibarium blockchain aims to reduce transaction costs and increase scalability for Shiba Inu users, making it more efficient for real-world applications. This development is seen by many as a step forward in establishing Shiba Inu as more than just a meme coin.

The ecosystem has also secured notable partnerships with companies such as Zama, D3 Global, and CDSA, which broaden Shiba Inu’s reach and use cases. Alongside these initiatives, the upcoming launch of ShibaSwap 2.0, a second iteration of the ecosystem’s decentralized exchange, is expected to bring additional functionalities and improvements for SHIB users.

Other projects within the ecosystem include Shiba Eternity, a collectible card game; Shibacals, which offers collectible physical items; The SHIB Magazine, an informational publication; and SHIBTheMetaverse, which aims to provide an interactive virtual space for the community.

Together, these projects signify Shiba Inu’s growth beyond its meme origins, as some commentators argue that it now resembles a utility-oriented cryptocurrency ecosystem.

Shiba Inu’s Utility Potential and Future Outlook

The response from Binance.US has given the Shiba Inu community a sense of validation and a chance to advocate for further enhancements. The requests for a BONE listing and a token burn mechanism reflect the community’s desire to drive tangible value for the token in the marketplace.

Analysts argue that Shiba Inu’s evolution suggests it is no longer merely a meme-based cryptocurrency. Rather, its expanding ecosystem and numerous partnerships indicate a more utility-driven project, challenging traditional perceptions of meme coins.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Binance US Completes Distribution of Flare (FLR) Airdrop To XRP Holders

Adedoyin Aka — Fri, 27 Oct 2023 02:13:03 +0000

Crypto exchange Binance.US has announced the successful distribution of the highly anticipated Flare token (FLR) airdrop to eligible XRP holders. This news has brought excitement to the XRP community members in the United States, as they can now view their FLR balance by visiting their wallet.

The distribution was specifically targeted towards users who had a minimum balance of 10 XRP in their Binance.US account at the time of the snapshot on December 12, 2020. These eligible users were allotted 15% of their claimable FLR tokens on October 25, following a distribution ratio of 0.1511 FLR per XRP.

We’re thrilled to announce that the @FlareNetworks airdrop for $XRP holders is finally here! #BinanceUS has successfully airdropped FLR on 10/25 at 10 a.m. ET to $XRP holders with a balance of ≥10 XRP during the snapshot on 12/11/20.

Learn more: https://t.co/XMLpkD6NHD pic.twitter.com/YDA9vzG06W

— Binance.US (@BinanceUS) October 25, 2023

With this announcement, Binance.US has enabled users to withdraw their FLR tokens. However, it is important to note that the exchange currently does not support deposits or trading activities for FLR.

The decision on whether to support the buying, selling, or trading of FLR on the platform is still pending, and Binance.US has emphasized that supporting the airdrop does not automatically guarantee the listing of FLR.

Impact on FLR Price and Trading Volume

Since the completion of the Flare token airdrop, the price of FLR has experienced a notable surge of 3% in the past 24 hours. However, the trading volume for the token has seen a decline. At the time of writing, FLR is trading at $0.0096.

The decrease in trading volume can likely be attributed to multiple factors. Firstly, many users are still in the process of waiting to withdraw their FLR tokens from Binance.US and other exchanges. Secondly, there may be a sense of caution among users regarding trading FLR due to the uncertainty surrounding its future listing on Binance.US.

Future Outlook

The completion of the Flare token airdrop by Binance.US marks a significant milestone for the Flare Network project and the XRP community. The Flare token (FLR) is expected to play a vital role within the Flare Network ecosystem, enhancing functionality and utility.

As users begin to navigate the withdrawal process and make decisions regarding trading FLR, the evolution of the token’s price and trading volume will be closely watched. It remains to be seen how the market will respond to the airdrop completion, as well as the eventual decision by Binance.US regarding support for FLR trading on its trading platform.

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3.4 Billion SHIB On the Verge of Being Dumped As Binance.US Pulls Out of Voyager Deal: Details

Ndianabasi Tom — Thu, 27 Apr 2023 13:29:51 +0000

The U.S. arm of the largest crypto exchange by trading volume Binance has pulled out of the deal to acquire the crypto assets belonging to the defunct crypto lending platform Voyager Digital.

In a Tuesday tweet, Binance.US announced its withdrawal from the deal to buy Voyager’s crypto assets including 3.4 billion SHIB tokens worth about $33.3 million at the time of writing. According to the exchange, the ‘difficult decision’ became necessary following the ‘hostile and uncertain regulatory climate in the U.S.”

Recall that the U.S. Securities and Exchange Commission (SEC) led by Gary Gensler has launched attacks on several U.S.-based crypto companies including Kraken, Ripple, Paxos and Coinbase. Amid calls from crypto companies for clear rules, the securities agency seeks to achieve crypto regulation by enforcement.

The update said, “Binance.US has made the difficult decision to exercise its right to terminate the asset purchase agreement with Voyager. While our hope throughout this process was to help Voyager’s customers access their crypto in kind, the hostile and uncertain regulatory climate in the United States has introduced an unpredictable operating environment impacting the entire American business community. We are focused on creating a safe platform where our customers can participate in the digital asset economy.”

Implication for SHIB Price

Voyager, a once-thriving crypto lending platform was among the companies to face liquidity crunches following the historic collapse of the Terra ecosystem in May. This led to the now-defunct company filing for Chapter 11 bankruptcy in 2022 and slowly selling off its holdings to offset debts to customers and other creditors.

Among the crypto assets Voyager has been heavily dumping in the market since February 2023 are Shiba Inu (SHIB) and Ether (ETH) in a bid to raise funds. In February, the bankrupt crypto lender moved 270 billion to top crypto exchanges. As published, Voyager Digital also moved a whopping 300 billion and 270 billion Shiba Inu tokens to Coinbase in March 2023 in separate transactions.

To help Voyager’s customers access their crypto in kind, Binance.US proposed a $1 billion deal to acquire the bankrupt company’s assets including its remaining 3.4 billion SHIB. As a result, the top crypto firm paused its frequent SHIB sell-offs.

However, given Binance.US’ withdrawal from the acquisition deal, Voyager Digital could be forced to resume dumping its crypto holdings including the 3.4 billion SHIB on its balance sheet. Should this be the case, would there be any negative impact on SHIB price?

Whether the top firm would or would not dump its remaining SHIB assets is only a matter of time. Regarding the price action of Shiba Inu in the short term, we can only watch to see how things unfold. But in the last 7 days, the second-largest decentralized token has been down almost 6%.

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Shiba Inu Can Now Be Purchased With USD on Binance.US; Newegg Rumored To Soon Accept SHIB

Tobi Loba — Sat, 20 Nov 2021 13:05:38 +0000

Shiba Inu (SHIB), the hottest meme token in the market, has continued to gain popularity across the crypto industry and beyond since its rise into prominence in terms of value.

A lot of top crypto exchanges have incorporated the cryptocurrency on their trading platforms due to the vast increase in its user-base. Binance.US is the latest exchange to start allowing the direct purchase of SHIB tokens on its platform.

The new development was announced by Binance.US a couple of hours ago, via its official Twitter handle. According to the report, users on the exchange can now buy Shiba Inu (SHIB) directly with US Dollars (USD).

Binance.US tweeted, “SHIB is now available for purchase directly with USD on our Buy Crypto portal. Buy Crypto portal allows for easy one-time or reoccurring purchases.”

$SHIB is now available for purchase directly with $USD on our Buy Crypto portal. Buy Crypto portal allows for easy one-time or reoccurring purchases: https://t.co/5zoJl7AlYO pic.twitter.com/5mhhakbuIA

— Binance.US (@BinanceUS) November 20, 2021

Shiba Inu (SHIB) Rumored to Be Accepted by Electronics Retailer Newegg

A couple of hours ago, online electronics retailer, Newegg, ignited Shiba Inu (SHIB) acceptance rumor.

In a cryptic tweet posted by the company, it tagged lead developer Shytoshi Kusama and the official Twitter handle of the second-largest meme coin Shiba Inu (SHIB) in order to come for an undisclosed discussion.

Newegg tweeted, “Shytoshi Kusama @Shibtoken DM us. Got a question for ya.”

@ShytoshiKusama @Shibtoken DM us. Got a question for ya

— Newegg (@Newegg) November 20, 2021

The Shiba Inu community immediately started to speculate that Newegg might add SHIB as a new payment option soonest.

Aside from Bitcoin (BTC) and Dogecoin (DOGE), the electronic retailer also accepts Bitcoin Cash (BCH), Ethereum (ETH), Wrapped BTC (WBTC), DAI, and four stablecoins such as Binance USD (BUSD), USD Coin (USDC), Gemini Dollar (GUSD), and PAX.

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