Cryptocurrency Although the market is still far from its peak levels, on-chain data shared by analysis company Nansen shows that risk-loving traders will be in the new year pump. Shiba Inu (SHIB) altcoin It shows concentration.
Shiba Inu Becomes Most Preferred Non-Stablecoin Assets in Newly Created Cryptocurrency Wallets
Over the past seven days, Shiba Inu (SHIB) has been a favorite token among newly funded crypto wallets. According to Nansen, SHIB has been sent to more than 12,000 new wallets, making it the most common non-stablecoin asset appearing in wallets’ balances. These wallets experienced $56 million in SHIB inflows during this time.
This does not mean that wallets are controlled by first-time SHIB purchasers; on the contrary, there may be pass wallets, many of which are owned by experienced crypto traders. Regardless, SHIB is much more involved in these new wallets than any other crypto.
Most SHIB transactions take place in the token’s native decentralized exchange, ShibaSwap, and wETH-SHIB liquidity pools on Uniswap.
Wrapped Ether remains the largest trading pair for SHIB, accounting for 65% of available liquidity. About a quarter of the liquidity comes through the Shiba Inu project’s management token, BONE.
On a weekly basis, 22% of SHIB’s circulating supply is invested in crypto exchanges, and Binance, the world’s largest exchange, holds more SHIB than any other; Crypto.com is in second place. Remarkably, Binance’s total SHIB deposits fell by 1.6 trillion tokens in seven days, while exchanges like OKX saw their deposits increase.
*Not investment advice.
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