Binance.US will start trading Shiba Inu from February 24, 2023 and will delist KSHIB.
Announcement for Shiba Inu has arrived
Binance.US, the world’s leading exchange by daily trading volume, has made an important announcement for the Shiba Inu community by offering a new trading pair for the popular dog-themed cryptocurrency. Binance.US has recently announced that it will launch a new trading pair for the Shiba Inu (SHIB) against the US Dollar (USD) on February 24, 2023.
Binance.US will delist the KSHIB/USD trading pair on February 20, 2023 and all pending KSHIB spot trade orders will be cancelled. Binance.US also announced that all users currently holding KSHIB will receive SHIB converted at the rate of 1 KSHIB = 1,000 SHIB until February 24, 2023. During this transition period, the SHIB/USDT trading pair will continue to be available for trading.
This move by Binance.US marks an important development for the Shiba Inu and its growing community as it will increase its usability and accessibility for users looking to trade the popular dog-themed cryptocurrency SHIB against the US dollar.
Binance has officially included the Shiba Inu in its Proof of Reserve (PoR) system. According to Binance’s Proof of Reserves page, the exchange has a net balance of 84.4 trillion SHIB tokens, worth $1.06 billion as of writing. Against this cryptocoin.com According to data, customers have a balance of 82.4 trillion SHIB tokens worth $1.03 billion, showing a reserve ratio of 102.4%.
Binance had included SHIB in its proof-of-reserve system
Binance has officially included the Shiba Inu (SHIB) in its Proof of Reserve (PoR) system along with three other major assets. This development was part of the exchange’s recent efforts to improve its PoR system and increase transparency for its customers through the use of zk-SNARK.
Binance announced the development in a recent announcement via its official Twitter account. The exchange revealed that they have officially added support for four new tokens to the PoR system, including the Shiba Inu.
The inclusion of Shiba Inu highlights Binance’s professional relationship with the growing project to secure its position on the global stage. As a testament to the exchange’s proximity, it repurchased 4 trillion SHIB on ShibaSwap shortly after repurchasing 12.6 trillion tokens.
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