24,940,023,596,035 Shiba Inu (SHIB) worth over $276,000,000 moved from crypto exchange to self-custody
Shiba Inu (SHIB)
About 25 trillion SHIB tokens worth more than a quarter of a billion dollars have left a leading crypto exchange and are currently sitting in cold storage off the market, according to new on-chain data.
An unknown Ethereum (ETH) address transferred 24.9 trillion SHIB to a self-custody wallet in six separate transactions, as discovered by crypto-analytics firm Santiment. According to Sentiment, Whale has been steadily acquiring ETH since the beginning of March.
"$276M worth of Shiba Inu has been moved from an exchange wallet to a self-custody wallet in 6 consecutive transfers today. Since March 1st, this address has been rapidly acquiring Ethereum, and now with its 24.94T SHIB Collecting 992 ETH.
According to data from Santiment, SHIB is transferring from an Ethereum address linked by Etherscan to US cryptocurrency exchange Crypto.com. All SHIB are now in a new address, making it the third largest Shiba Inu wallet in the world and the largest not yet identified as being affiliated with an exchange. It is not clear if the transaction is Crypto.com transferring its SHIB to the new wallet or another wheel token.
Shiba Inu (SHIB)
Shiba Innoburn tracking site Shiburn reported that between Tuesday evening and Tuesday evening, MemeCoin increased SHIB's burn rate by 1,316.43% with a total of 452,950,434 tokens burned.
Shibarium, a layer-2 protocol of the ecosystem built on top of Ethereum (ETH), is in beta testing, and the Shiba Inno Community Abs (MATIC). SHIB finally published the beta version last week, allowing beta testers to explore the testnet.
Conclusion
Shitoshi Kasama, a pseudonymous SHIB developer, believes that Shibirim will be in beta for two months but admits that the timing is unpredictable and could take up to four months. According to Kusama, the beta includes “building mechanisms and bug hunting.