Binance.US, a subsidiary of crypto trading behemoth Binance, has announced that it will delist Kilo Shiba Inu (KSHIB) and list Shiba Inu (SHIB) against the U.S. Dollar (USD) on Feb. 24 at 7:00 a.m. EST.
The KSHIB/USD trading pair will be removed, and all pending KSHIB spot trade orders will be canceled on Feb. 20 at 10:00 p.m. EST. Customers currently holding KSHIB will receive converted SHIB distributions at a ratio of 1 KSHIB to 1,000 SHIB by Feb. 24.
The SHIB/USDT trading pair will remain available during this transition. Binance.US has also listed KSHIB and added the KSHIB/USD trading pair, which joins the existing SHIB/USDT and SHIB/BUSD pairs.
Kilo Shiba Inu (KSHIB) is a metric prefix of Shiba Inu (SHIB) and is equivalent to 1,000 SHIB tokens. By removing a few decimal places from SHIB, KSHIB allows customers to more conveniently trade SHIB for USD via the KSHIB/USD trading pair, once customers have converted their SHIB to KSHIB. Customers can freely convert their KSHIB tokens to SHIB or vice versa, with zero fees.To trade KSHIB for USD, customers were supposed to first convert their SHIB to KSHIB first. Deposits and withdrawals are only enabled for SHIB, so customers must first convert their KSHIB to SHIB before withdrawing funds. Similarly, customers must deposit SHIB to their Binance.US wallet before converting their SHIB to KSHIB.
Binance.US's decision to delist KSHIB and replace it with SHIB/USD is expected to provide an improved trading experience for its customers.
Shiba Inu (SHIB) is currently the 16th biggest cryptocurrency by market capitalization, according to CoinMarketCap.
As reported by U.Today, Binance also delisted SHIB/GBP due to a lack of liquidity.
Tomiwabold Olajide
Gamza Khanzadaev
Yuri Molchan
