Binance Approves Shiba Inu As Collateral: What Does This Signal For SHIB’s Future?
04 Agosto 2023 - 6:50AM
NEWSBTC
Binance has continued to make significant strides, cementing its
role as a crucial player in the market. One of the recent moves
involves the addition of 22 new loanable and collateral assets to
its Flexible Loan and VIP Loan services, including the
meme-inspired cryptocurrency, Shiba Inu. This marks an essential
milestone for Shiba Inu, intensifying the spotlight of the
dog-themed meme coin. Shiba Inu Emerges As A Viable Collateral
Asset Binance’s approval of Shiba Inu as a collateral asset is
specifically noteworthy as it suggests that the crypto exchange is
acknowledging Shiba Inu’s market potential and the growing trust in
its liquidity. This could possibly pave the way for increased
adoption of SHIB as a credible asset within the wider crypto and
decentralized finance (DeFi) space. Related Reading: Whale Activity
Spikes As Shiba Inu Preps For Shibarium Launch Simultaneously, the
recent development has ignited conjecture about the
possibility of Bone ShibaSwap (BONE) tokens being listed on
Binance. This conjecture aligns with the eagerly-awaited roll-out
of the layer 2 blockchain, Shibarium, slated for unveiling within
the current month. Should this transpire, it could boost the
visibility and credibility of both SHIB and BONE. Interestingly,
Binance’s announcement on August 4 didn’t only involve Shiba Inu.
Among other notable assets are Compound and Theta, representing the
exchange’s commitment to continually broaden its offering to cater
to diverse crypto investors. Implications For SHIB’s Future
The potential implications for Shiba Inu following this
announcement are profound. It is a significant indicator of the
coin’s evolution from its meme origin to a legitimate financial
asset within the crypto sphere. Particularly, the acceptance of
SHIB as a collateral asset could attract serious investors,
impacting its price and market cap in the long run. Further
driving this speculation is Binance’s potential listing of the BONE
token, dependent on the successful Shibarium mainnet launch. As
previously disclosed by the lead developer, Shytoshi Kusama, the
Shibarium launch is expected in August, making BONE’s listing on
Binance a distinct possibility. If actualized, this could further
solidify Shiba Inu’s standing in the market, making it a coin worth
watching in the crypto space. Related Reading: Shiba Inu’s DeFi
Aspirations May Rattle DOGE’s Market As SHIB Turns To Digital IDs
To further showcase Shiba Inu’s seriousness in becoming more than a
meme coin, Kusama reportedly disclosed the Shiba Inu project,
Shibarium, will integrate Digital Identity Verification into all
its future developments. The lead developer noted: [We are
currently] laying the groundwork for a new global standard in
decentralized digital trust and international identity
verification. In this way, Shibarium is the herald of a new digital
age where faith in systems is restored and enhanced. Alongside this
update, SHIB has seen a nearly 5% gain in value in the past 24
hours bringing its price to currently trade at $0.00000858, at the
time of writing. Featured image from WatcherGuru, Chart from
TradingView
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