Cryptocom moves massive Shiba Inu.
Singapore-based cryptocurrency exchange, Crypto.com moved $269.59 Million worth of Shiba Inu (SHIB) to the new address in the past hour. The new address, as a result, becomes the 4th biggest Shiba inu holder.
Crypto.com recently transferred a staggering 24,939,482,510,233 (24.93T) SHIB, worth $269,595,805 ($269.59M) from one of its wallets tagged “Crypto.com 3” to the new wallet through six separate transactions in the past hour, Etherscan.io data reports.
This makes Crypto.com’s new wallet the 4th biggest holder of Shiba Inu.
Kris, the CEO of Crypto.com, took to his Twitter handle to clarify the reason behind this move. He explained that the transfer is part of Crypto.com’s routine custody operations, where they rebalance assets across new addresses to maintain the safety and security of their wallets. He further said that the transfer would not affect customers in any way. The company has also updated its asset dashboard on Nansen.
As part of our usual custody operations to ensure continued safety and security, we will be rebalancing several assets across new addresses. This will have no impact for our customers and we have updated our asset dashboard on Nansen for full transparency. No need to FUD, thanks.
— Kris | Crypto.com (@kris) March 20, 2023
This massive SHIB transfer has led to a surge in Shiba Inu’s trading activity, making SHIB one of the most traded tokens among the 2000 biggest ETH Whales in the past 24 hours.
JUST IN: $SHIB @Shibtoken is back on top 10 by trading volume among 2000 biggest #ETH whales in the last 24hrs ?
Peep the top 100 whales here: https://t.co/R19lKnPlsK
(and hodl $BBW to see data for the top 2000!)#SHIB #whalestats #babywhale #BBW pic.twitter.com/AgD76I7djD
— WhaleStats (tracking crypto whales) (@WhaleStats) March 20, 2023
The Shiba Inu Ecosystem has been in the news lately due to its various developments. Marcie Jastrow, the Metaverse Advisor for Shiba Inu, will attend the Outer Edge Los Angeles (LA) event starting Monday, along with other notable players in the Web3. This appearance will bring more attention to Shiba Inu and the broader cryptocurrency space.
In addition, LunarCrush has reported that social activity around Shiba Inu has reached a 3-month high, with over 50,000 people participating in daily discussions on social media.
Meanwhile, the Shiba Inu team is focused on creating the Shibarium Documents, which are anticipated to be made public sometime this week. These documents will contain crucial information about the blockchain, providing a comprehensive overview of its features and functions.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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