New Details on 4 Trillion SHIB Moved by Binance – Shiba Inu Staking Performed

Tue, 01/10/2023 - 15:55

Update on 4 trillion SHIB transaction performed by Binance, earlier covered by U.Today

New Details on 4 Trillion SHIB Moved by Binance – Shiba Inu Staking Performed

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Binance unstakes 12.6 trillion, then restakes 4 trillion SHIB
Binance has wallet on ShibaSwap

As reported by U.Today earlier, Whale Alert crypto tracker spotted a whopping 4 trillion SHIB moved by the largest trading platform by volume, Binance.

Now, new details of this transaction have emerged.

Binance unstakes 12.6 trillion, then restakes 4 trillion SHIB

Shibburn crypto tracker that traces Shib burn transactions has shared details of the massive SHIB movement recently reported by Whale Alert.

The latter tweeted that Binance had moved 4 trillion (4,000,000,000,000) SHIB to an anonymous wallet. Shibburn tweeted that these meme coins worth $36,280,000 were restaked by the crypto trading giant.

Shibburn also tweeted that, initially, Binance moved 12,661,395,600,288 Shiba Inu (SHIB) – the equivalent of $116,231,611. This massive chunk of meme tokens was removed from the staking pool of ShibaSwap dex.

Following that, Shibburn continues, 4 trillion Shiba Inu were staked back. At the time of this writing, according to the tracker, its website shows that the total amount of SHIB staked currently has dropped to 18,101,132,414,550 coins.

Sorry guys, there's something that I didn't notice at first, yes there was 4 trillion staked but... there's also this transaction. 12,661,395,600,288 $SHIB ($116,231,611) was previously was un-staked from ShibaSwap by Binance, then 4 trillion was re-staked.https://t.co/PDeSyGC8fo
— Shibburn (@shibburn) January 10, 2023

Shibburn added that now there are 4 trillion coins temporarily out of circulation.

That's 4 trillion $SHIB temporarily out of circulation. 🔥
— Shibburn (@shibburn) January 10, 2023

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Binance has wallet on ShibaSwap

SHIB community influencer @ShibBPP has commented on this news. According to him, Binance exchange set up a whitelisted wallet on ShibaSwap on the day of its launch. Now CZ's crypto giant has been staking SHIB there and giving rewards from there to its users.

#Binance has had a whitelisted wallet since the launch of ShibaSwap, allowing them to stake $SHIB in the system, claim rewards, and distribute rewards to its users🔥🔥
— $SHIB BPP (@ShibBPP) January 10, 2023

#Shiba Inu (SHIB) News #Staking

About the author

Yuri Molchan

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.