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Shiba Inu (SHIB) Added as New Collateral Asset by Binance

Fri, 08/04/2023 - 10:16
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Yuri Molchan
Shiba Inu utility keeps expanding thanks to new opportunity offered by Binance
Shiba Inu (SHIB) Added as New Collateral Asset by Binance
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Binance has announced the expansion of its list of collateral and loanable crypto assets that will be available on Flexible Loan and VIP Loan services.

The new coins that can be used as collateral include the second most popular meme coin, Shiba Inu (SHIB). Apart from that one, you will also find COMP, IOTA, RLC, HOT, ENJ, THETA and IOST on that list.

The biggest crypto exchange by volume has also announced the list of newly added loanable cryptocurrencies. For its Flexible Loan service, the list consists of AUCTION, PYR, ILV, KNC, YGG, GAS, CELO and IRIS. For VIP Loan, Binance has added NKN, FARM, DIA, YGG, OGN and ACA coins.

This significantly expands the utility of Shiba Inu, ensuring a flow of new users to it.

1.3 billion SHIB burned in past month

Data shared by CryptEye analytics platform shows that over the past month, substantial progress has been achieved in terms of burned Shiba Inu tokens.

Its chart shows that over the past 30 days, the SHIB army has removed 1,354,245,426 Shiba Inu meme coins. This is the equivalent of $10,671.45. Within the last three months, the amount of burned SHIB is a lot bigger – 13,902,588,576. This is worth $109,552.

Over the past 24 hours, though, the burn rate is down 44.52% with a total of 29,213,468 SHIB sent to dead-end wallets, according to data provided by the Shibburn tracking platform.

Shibarium Breaks Above This Major Threshold, Expanding Utility

Shibarium hits new historic utility peak

Shibarium testnet Puppynet has reached yet another all-time high as its utility keeps growing. Since last week, the total count of transactions on this Layer 2 testnet blockchain has reached 34,786,612, adding roughly 200K-300K transactions per day.

Puppynet was rolled out on March 11, with new adjustments being made and various updates introduced since then. The mainnet of Shibarium is likely to be launched in the middle of August during the ETH Toronto conference. SHIB is one of the major sponsors of it, and mysterious lead developer Shytoshi Kusama is expected to deliver a speech via AI on it.

Another rep of the Shiba Inu team, Marcie Jastrow, will tell the audience about the SHIB Metaverse. In her speech, she will talk about its future, its impact on the ecosystem and perhaps even present some of the virtual hubs of the metaverse.

There will also be an outdoor cabana party sponsored and hosted by Shiba Inu; every guest of the conference who purchased a ticket will be able to attend the party.

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About the author

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