Ahead Of Shibarium Launch $28 mn SHIB Withdrawn
Shibarium Layer-2 will be available soon, and it appears that certain major SHIB players are making preparations. On-chain data shows that during the recently finished month of July, almost $28 million worth of SHIB tokens were deleted from significant cryptocurrency exchanges.
According to statistics published on Twitter by crypto analyst Ali Martinez and supported by on-chain chart data from IntoTheBlock, over 3.30 trillion SHIB were removed from known crypto exchanges in July, representing the greatest SHIB withdrawal rate in prior months. The data on the graphic also shows that the token’s circulating supply across exchanges declined from 86.69 trillion to about 83 trillion by the end of the month.
On July 19, Ethereum whales transferred 2.4 trillion SHIB tokens worth $18.7 million from Binance.US into an unknown wallet. The whale’s SHIB holding now stands at over $20 million, attributed to the announcement of Shibarium’s Layer 2 blockchain, which is expected to reduce gas fees and improve transaction speeds.
(With inputs from Shikha Singh)
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