The US has finally cancelled a token supposed to be mathematically tied to Shiba Inu, choosing to announce full support for the local crypto asset SHIB instead.
Initially, the US-based cryptocurrency exchange supported Kilo Shiba Inu (KSHIB), which is equal to 1,000 Shiba Inu (SHIB) tokens and aimed to make purchasing SHIB with US dollars more convenient.
Today, Binance.US has officially introduced support for the SHIB/USD pair and discontinued support for the KSHIB/USD pair.
The holdings of customers who invested in KSHIB will be immediately transformed. “KSHIB/USD trading pairs have been delisted, and all outstanding KSHIB spot trade orders have been cancelled.”
Shiba Inu has seen an exciting start to 2023 as the cryptocurrency project prepares to launch Shibarium, its own layer-2 blockchain on the Ethereum network.
SHIB began the year at $0.00000814 and has since increased by 54% to $0.00001253 at the time of publication.
BONE will be a fundamental component of Shibartium and will be used to pay all gas transaction costs.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.