Avalanche Bridge, which was introduced by Ava Labs in July, now supports meme cryptocurrency Shiba Inu.
The tool allows seamlessly moving Ethereum tokens to the Avalanche mainnet.
Avalanche Bridge (AB) is adding new tokens that can be transferred between Avalanche and Ethereum.— Avalanche ? (@avalancheavax) December 8, 2021
First up, $SHIB incoming!
Transfer using the best bridge in crypto: https://t.co/UAY69mBjpo pic.twitter.com/gRa9rDFBMZ
Users can also transfer wrapped versions of Bitcoin and Ethereum with the help of the bridge.As reported by U.Today, Avalanche's native token, AVAX, surpassed Shiba Inu by market cap in late November amid a record-setting rally. The two cryptocurrencies remain neck-and-neck in 12th and 13th places, respectively.
Ava Labs CEO Emin Gün Sirer recently described Shiba Inu as "a zero-sum game," adding that the best-performing cryptocurrency of this year is not his cup of tea.
SHIB is a memecoin. As such, it's a pure momentum play -- it has no use, so it's a zero sum game. Exactly half the community (in dollar terms) will make money, while the other half loses. Not my cup of tea.— Emin Gün Sirer? (@el33th4xor) December 7, 2021