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HomeCrypto NewsExchangesBinance Restakes 4T Shiba Inu Tokens on ShibaSwap Moments After Unstaking 12.6T Coins

Binance Restakes 4T Shiba Inu Tokens on ShibaSwap Moments After Unstaking 12.6T Coins

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Shibburn shares details of different SHIB staking transactions carried out by Binance.

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World’s largest cryptocurrency exchange by trading volume recently staked and unstaked an astounding amount of canine-themed token Shiba Inu (SHIB). 

Binance Unstakes 12.6 Trillion Shiba Inu Tokens

According to Shibburn, a Twitter handle that tracks the incineration of Shiba Inu, Binance removed a massive 12,661,395,600,288 (12.6T) SHIB tokens from the ShibaSwap decentralized exchange (DEX) staking pool. After Binance unstaked the canine-themed cryptocurrency, the leading cryptocurrency exchange moved the entire 12,661,395,600,288 (12.6T) SHIB tokens from the ShibaSwap staking pool. At the time of the transaction, 12.6T SHIB was worth an equivalent of $116.23M. 

Binance Stakes Back 4T SHIB

Despite removing over 12.6T Shiba Inu tokens from the staking pool, the leading crypto exchange was still not done with SHIB staking on ShibaSwap. Per Shibburn, Binance later restaked 4 trillion SHIB, worth $36.28M, on the platform. Notably, the exchange first moved the 4T SHIB tokens to an anonymous wallet before staking back the assets in the staking pool of ShibaSwap DEX. 

The Shiba Inu burn tracker further revealed that a total of 18,116,515,603,375 (18.1T) SHIB are currently staked in the staking pool. It bears mentioning that the announcement by Shibburn comes as the burn tracker tries to enlighten members of the SHIBArmy about the whopping 4T SHIB tokens moved earlier by Binance to ShibaSwap

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SHIB Influencer Makes Shocking Claim

Meanwhile, the development prompted a series of reactions from the Shiba Inu community. The most significant comment came from a prominent Shiba Inu influencer named SHIB BPP. According to SHIB BPP, Binance has an active wallet on ShibaSwap, created on the same day the Shiba Inu team launched the DEX. SHIB BPP noted that Binance uses the wallet for staking SHIB in DEX’s staking pool, claiming rewards, and distributing the rewards to its users.

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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