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Whales Move 234M XRP as Price Dips by 17%

Albert Brown
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Whales Move 234M XRP as Price Dips by 17%

Whales have moved over 234M XRP in the past 24 hours between exchanges amidst market uncertainties, as the value sees a 17% decline in a day.


The markets are experiencing a massive bloodbath, and XRP has not been spared in the carnage. Following an encouraging start for the week, the crypto markets have hit a tremendous roadblock, as several assets shed off gains picked up in the past seven days. XRP has been caught up in the slaughter, as whale movements see an uptick, with over 234M moved between exchanges within a day.

Blockchain tracking and analytics platform Whale Alert has, in the past 24 hours, highlighted several whale transactions involving XRP. These transactions have cumulatively moved 234.5M XRP in the past 24 hours. The latest transaction involved a massive outflow from Binance to an unknown wallet of 30M XRP, worth about $11.5M.

This outflow followed a previous transaction which saw about 89.5M XRP worth $36.8M taken out of Latin American exchange Bitso at 12:30 AM today. The funds were also transferred to an unidentified wallet. Forty-five minutes before this, two transactions on Bitso had occurred, as whales moved 60M XRP ($24M) and 30M XRP ($12M) from unknown wallets to Bitso on two occasions.

All the transactions involving Bitso occurred in an hour, raising questions about the reason behind the urgency of the whale movements. Notwithstanding, the most logical assertion highlights the sharp volatility experienced in the market of late and a need to urgently make trade decisions as a hedge against damaging effects.

Before the Bitso transactions, a whale had moved 25M XRP, worth around $10.9M, to Bitstamp in a single transaction. The transaction occurred in the early hours of Tuesday as XRP dropped from the lofty position at $0.46 at the outset of the market turbulence.

Meanwhile, the price of XRP has not been responding favorably to the current market conditions and persistent whale movements. The asset, which had started November on favorable grounds, dipped from a high of $0.50 last Saturday to $0.43 this Tuesday before making some slight gains.

The pressure from the bears proved more formidable than XRP’s resilience, as the asset finally broke below the $0.40 level on Tuesday amidst the chaos triggered by the FTX situation. With a decline of 17.24% in the past 24 hours, XRP currently trades at $0.3641 as of press time.

Despite recent propitious developments, especially regarding the advent of NFTs on XRPL and the ongoing litigation with the SEC, XRP has not shown immunity to the damage caused by the prevailing massacre. Its current value is the lowest the asset has seen since September. 

Martin Shkreli Tells Terra Founder “Jail Is Not That Bad,” Do Kwon Laughs, Deaton Responds

Mark Brennan
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Martin Shkreli Tells Terra Founder “Jail Is Not That Bad,” Do Kwon Laughs, Deaton Responds

Attorney John E. Deaton Does Not Believe That Do Kwon Is Remorseful.


Deaton thinks the Terra founder is not bothered by the fact that people lost their savings in the Terra ecosystem collapse.

In a tweet today, Attorney John E Deaton asserted that Do Kwon has no remorse despite the Terra ecosystem collapse in May wiping out investor savings.

The view came in response to a clip from a spontaneous UpOnly podcast episode focused on the FTX collapse making the rounds on Twitter. In the clip, Kwon can be seen laughing in response to what can be viewed as a friendly jibe from Martin Shkreli, AKA Pharma Bro, telling the Terra founder that “jail is not that bad.”

It bears mentioning that Kwon is the founder of Terraform Labs (TFL), the company that built the eponymous Terra blockchain, which collapsed in May, rocking the entire crypto industry. Notably, at least $60 billion in investors’ monies was wiped off the market leading to a market-wide contagion that brought crypto lenders like Celsius with significant LUNA exposure to their knees, costing non-LUNA investors their investments as well.

Unsurprisingly, these events brought Kwon, TFL, and the entire crypto industry under scrutiny from prosecutors and regulators. Notably, South Korean authorities have issued an arrest warrant for the Terra founder on charges of fraud and breaching the Capital Markets Act.

However, the Terra founder’s whereabouts remain unknown. In a previous report, prosecutors had alleged that Kwon was hiding as an illegal immigrant in Europe, asserting that they had succeeded in revoking his passport.

Meanwhile, Kwon has continued to declare his innocence in recent interviews. According to the Terra founder, he did not defraud investors. Rather, the project failed. However, there are those like FatMan Terra, a Terra whistleblower, who believe that even if Kwon was not directly responsible for the TerraClassicUSD (USTC) de-pegging, he had intentionally made false claims to promote the defunct stablecoin, which is akin to defrauding investors.

Much to the chagrin of his detractors, Kwon, who remains free in a rant last Thursday in response to reports that he was hiding as an illegal immigrant, taunted that he would host a press conference to clear up what he termed “falsehoods.” According to the Terra founder, the police and all his detractors are invited.

It is unclear if Deaton owned any LUNA, though the attorney once joked about selling all his XRP for LUNA and depositing his Bitcoin on Celsius in response to a troll. However, the lawyer has continued to show sympathy for the plights of those affected by the collapse, as he notes that it could have happened to anyone, and no one deserves it.

From Billionaire To… FTX Chief Loses 93% of Net Worth Overnight

Albert Brown
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From Billionaire To… FTX Chief Loses 93% of Net Worth Overnight

Founder and CEO of FTX, Sam Bankman-Fried, has lost 93% of his wealth within a day, as his net worth drops by $14.6B to $991M in 24 hours.



FTX Chief Sam “SBF” Bankman-Fried has now lost his billionaire status following a 93% decline of his net worth to $991M in under 24 hours. The American entrepreneur, whose net assets were valued at $15.5B barely 48 hours ago, lost over $14.6B in the past day in the wake of the recent decline of FTX’s native token, FTT.

Considering SBF’s close ties with FTX and Alameda Research, most of his net worth is tied to the value of the exchange’s native token, FTT. Consequently, the massive slump in the value of FTT prompted by the recent wave of selloffs has substantially impacted SBF’s billionaire status, as indicated by Bloomberg.

SBF appears to be the most affected by the recent worrisome concerns plaguing Alameda Research, FTX, and FTT. Following the disclosure from Binance’s CZ of the exchange’s intention to liquidate its FTT holdings, the community witnessed a wave of panic dumped into the space.

This triggered a cascade of selloffs involving FTT and a mass withdrawal of assets from FTX by investors concerned about the possibility of insolvency. The community now takes the slightest hint of insolvency more seriously, considering the recent fiascos that have led to losses in investor funds within the crypto space, including but not limited to Terra, 3AC, and Celsius.

Despite indicating that Binance’s manner of approach will ensure that its liquidation of FTT does not negatively impact the market, the asset suffered a huge blow from the announcement, losing over 70% of its value in under 24 hours.

Amidst the panic sales and the bank run FTX was witnessing, SBF signed a Letter of Intent (LOI) with Binance’s CZ for the acquisition of FTX to help it address its liquidity crunch predicament, as The Crypto Basic previously highlighted.

Notwithstanding, CZ mentioned that the deal is non-binding, and considering the dynamics of the FTX situation, the possibility of a pull-out exists. The Binance Chief noted that they would be conducting Due Diligence (DD) into FTX in the coming days.

Despite the lifeline from Binance, FTT’s decline persisted, with the asset changing hands at $4.79 as of press time. The Crypto Basic previously pointed out the risk of the asset dipping below the support at $10.70 when it was trading at the $14.7 region.

The current value of $4.79 is the lowest the asset has touched since December 2020. The price impact has also significantly affected FTT’s market capitalization, dropping from the 30th position on the list of largest assets by valuation to the 60th in under 24 hours. The asset now has a market cap of $653M, down from the $2.53B witnessed in the past day.

FTX Coin (FTT): Another One Bites The Dust

Mark Brennan
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FTX Coin (FTT): Another One Bites The Dust

 

2022 has been the year of bank runs followed by market-wide contagion, and with FTT slumping 75%, it begs the question: is FTT becoming the next LUNA?


It’s been a tumultuous few days in the largely drama-filled cryptocurrency world, with mudslinging on Twitter, a surprise exchange takeover bid, and slumping token values. Still, it feels like we’ve seen this before, at least in some aspects, like over-leveraged loans, degenerate risks with customer funds, rumors of illiquidity, and ensuing bank runs that ultimately led to the LUNA/3AC/Celsius collapse.

It all began when rumors spread that FTX was overleveraged due to the money it printed to back loans (FTT) and exposure to a pseudo-internal hedge fund (Alameda) that makes huge bets on leveraged, illiquid tokens. As such, customer funds on the platform weren’t backed 1:1.

As reported by The Crypto Basic earlier, FTX witnessed nearly $1B in outflows in the week leading up to its acquisition by Binance, with a whale withdrawing over $247M within a day as insolvency concerns gained steam.

Recall that CZ had earlier disclosed that Binance would be market-dumping its FTT holdings as a “post-exit risk management” move, as he refers to the issues experienced with the Terra collapse as a lesson to be learned. The disclosure led to a mass withdrawal of funds from FTX as investors looked to hedge against insolvency following the Luna/Celsius debacle.

It bears mentioning that on-chain data suggest that FTX found itself in this position only because it bailed out Alameda in the aftermath of the LUNA collapse using FTT as collateral, and for a good reason; had FTX let Alameda implode in May, their collapse would have ensured the subsequent liquidation of all FTT tokens vested in September. It would have been terrible for FTX, so they had to find a way to avoid this scenario.

The bailout of its sister firm, Alameda, likely put a dent in FTX’s balance sheet to the point where it was no longer solvent. This would have been fine if the price of FTT hadn’t collapsed, resulting in a bank run.

It turns out that FTT isn’t like Luna, but it was a casualty of Luna, and its carcass has just reached the shore. FTT fell to $4, down more than 80% over the past 24 hours.

Social Tokens Will Power The Growth Of Web3 Platforms

Andrew MacGill
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Social Tokens Will Power The Growth Of Web3 Platforms

Cryptocurrencies might have been going sideways for quite some time, but that hasn’t stopped the blockchain industry from continuing to innovate. One of the latest phenomenon’s to enter the spotlight is “social tokens” with focus on a particular person or community.

Social tokens are used to boost engagement among the followers of a person or a community, and while the idea itself is not entirely new, it is only with the emergence of blockchain technology that it’s finally beginning to take off.

What Is A Social Token?

For the uninitiated, social tokens are really just another kind of cryptocurrency, however they’re specific to a person, brand or community. They enable the entities they represent to monetize themselves outside of traditional revenue streams. In this way, a content creator or social media influencer can monetize their fan base by providing exclusive benefits to followers who own their social tokens.

It’s a compelling idea because creators have long been restricted in their ability to monetize their work, with traditional social media platforms like Instagram, YouTube, and TikTok taking a huge chunk of their earnings. At the same time, such platforms often place restrictions on the kind of content people can generate. With social tokens, influencers and creators can keep all of the revenue they generate and better reward their fans while retaining full artistic control over their content.

Two Kinds Of Social Tokens

 Social tokens fit neatly into two categories. The first is personal social tokens, which are usually created by an individual in order to monetize their labor or fan experiences. For instance, a celebrity might create social tokens that can be redeemed for a one-on-one video chat or signed autograph. These kinds of tokens are already popular with some social media influencers, who hold monthly exclusive conversations with their fans.

Crypto entrepreneur Alex Masmej was one of the first personalities to capitalize on the idea with the creation of his ALEX token, in order to fund a move to Silicon Valley. Masmej wanted to move there in order to meet potential investors and co-founders for a new crypto startup. Holders of the ALEX token enjoyed some interesting privileges, being able to vote on Masmej’s lifestyle choices – such as where to get an apartment, what to eat, and so on. In addition, the token-entitled fans received a portion of the income he generated from his crypto venture. Those who hold a minimum of 5,000 ALEX tokens also get access to an exclusive newsletter and Telegram chat room where they can interact directly with him.

Besides personal tokens, we also have community social tokens, which are designed to incentivize participation within a large community. Community token holders are generally entitled to access exclusive content, entry to private chat groups and events, or limited edition merchandise. They may also give holders voting rights within a community’s decentralized autonomous organization.

One example of a community token is Whale Shark’s WHALE. Whale Shark is a community that collects non-fungible tokens, and WHALE holders gain fractional ownership of its entire collection. This brings a lot of benefits, as Whale Shark holds some of the rarest and most sought after NFTs in the crypto space.

Another kind of social community token is TAKI, the native cryptocurrency of the Taki social media platform. Taki bills itself as an “engage-to-earn” social media network, where users can earn TAKI simply by using the app on a daily basis. They can earn rewards for creating new posts and commenting on others. The TAKI coins they earn can then be used to tip other users with GOLD TAKI, or create “User Coins” that represent the value created by influencers on the platform.

Taki’s User Coins are actually a kind of personal social token. They represent a user’s presence on the Taki platform and perform a range of functions. For instance, they can be used to distribute GOLD TAKI rewards among the user’s community. So, a creator can sell their own personal tokens to generate income and then distribute whatever tips they receive as a reward for their fan’s backing. User Coins also function like regular cryptocurrency, and can be sold on a DEX, used as collateral for a loan, purchase NFTs, create a DAO, and more.

Differences With NFTs

 Social tokens might sound similar to NFTs, and they certainly do share some characteristics as they’re both underpinned by blockchain technology and held in crypto wallets.

The biggest difference between social tokens and NFTs is fungibility. As the name suggests, NFTs are non-fungible, meaning they cannot be split in any way. You can’t buy half an NFT, for example, in the same way that it’s possible to buy 0.5 Bitcoin. Also, each NFT is unique and has its own value. An extremely rare Bored Ape Yacht Club NFT might sell for millions, whereas a run-of-the-mill RockerPunk NFT is worth only a few dollars.

On the other hand, social tokens are fungible and divisible. Each unit holds the same value, so the 0.2 TAKI held by one user is worth exactly the same as the 0.2 TAKI held by another user.

Another difference between social tokens and NFTs pertains to the underlying asset. Social tokens are designed to monetize creators, while NFTs are generally used to monetize virtual goods such as digital art or digital clothing in the metaverse.

A Driving Force For Web3?

 Social tokens are likely to play an important role in the growth of Web3 platforms as they reinforce value distribution by matching a member’s contributions. With social tokens, users can create an incentivized business model that encourages stakeholder diversity while rewarding contributors and creators.

As we enter the new era of internet democratization, social tokens will become increasingly integrated with Web3 environments. In Web2, tech giants like Facebook and Google dominate legacy platforms and have full control of information dissemination. With social tokens, Web3 promises to devolve these systems with more freedom for creators and greater control around privacy.

Social tokens will play a key enabling role as they’ll be used to compensate creators. By eliminating the middleman, creators will be able to retain a much bigger portion of the revenue they generate, put more back into these platforms, maintain their creative independence, and reward their followers.

At present, social tokens are still largely an experiment and certainly not the norm. However, as the internet evolves from Web2 to Web3, that’s likely to change as more influencers and communities adopt them as a vehicle to increase engagement.

There are some risks with social tokens. Because they’re associated with a specific person or community, any problem or scandal (such as a hack) would reflect negatively on whatever it is they represent. But this risk is likely outweighed by the opportunity they present to reimagine content creation and community engagement and provide more value to everyone who plays a part.

Ambire Wallet Adds Swappin.Gifts, Enabling Gift Card Offramping

Andrew MacGill
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Ambire Wallet Adds Swappin.Gifts, Enabling Gift Card Offramping

EVM-compatible Web3 wallet Ambire has added swappin.gifts to its DApp Catalog. Ambire users can now swap their crypto holdings for gift cards for popular online and offline locations directly from the app’s interface.

Ambire and swappin.gifts are running an exclusive promotion to celebrate the partnership. Those swapping crypto for gift cards via the integration can enter a prize pool to win a share of $1,000 in BNB tokens.

Swapping Crypto for Giftcards with Ambire Wallet

Unfortunately, most retailers don’t yet accept digital currency, and converting crypto into a currency for which they will exchange their goods and services can be a real pain. Centralized exchanges increasingly demand more rigorous verification checks, and cashing out itself often takes days.

Offering a solution is swappin.gifts, a decentralized app on which to swap thousands of cryptocurrencies across multiple networks directly for gift cards. The application supports gift cards from more than 40 countries. Among the featured gift card brands are household names like Amazon, Walmart, Home Depot, eBay and Airbnb.

Making the process even easier, swappin.gifts has just partnered with Ambire Wallet, an Ethereum Virtual Machine-compatible crypto storage solution. A press release detailing the partnership and accompanying Medium post states that Ambire Wallet users can now access swappin.gifts directly from the wallet’s recently launched in-built DApp Catalog.

Ambire launched its DApp Catalog in late September. The plug-in system provides access to a range of blockchain-based applications across 12 EVM-compatible chains. Swappin.gifts joins apps like the decentralized exchange SushiSwap and the cross-chain bridging solution Hop Protocol on the wallet’s user interface. The upgrade offers a safer access point to many of Web3’s most popular DApps by minimizing user exposure to potential phishing attacks.

Having launched in 2021, Ambire Wallet is something of a new crypto storage app. However, Ambire, the Web3 product company behind the app, was founded in 2017 and previously built the AdEx Network.

Try swappin.gifts through Ambire for a chance to win

To celebrate Ambire’s new swappin.gifts integration, the two are running an exclusive promotion. Up for grabs is a share of a $1,000 BNB prize pool, with three top prizes of $200 in BNB and several smaller prizes.

Prizes are divided into two tiers. To be eligible for either tier, Ambire users must use swappin.gifts via the DApp catalog during the promotional period.

For the upper-tier prizes, users must deposit $50 or more in any crypto token that’s part of the Ambire $WALLET rewards program. The remaining $20 prizes will go to users promoting the partnership via social media. The two-week qualification period began on Nov. 3 and will end on Nov. 17.

Binance US Asks Community Who Shiba Inu Founder Is

Zabi
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Binance US Asks Community Who Shiba Inu Founder Is

Binance US gets curious about Shiba Inu’s (SHIB) founder.



Binance US recently commenced a Twitter Poll titled “Crypto Trivia.” The poll asks the community about the real creator of Shiba Inu.

“… Shiba Inu was created by whom?”

Binance US provides four options: Satoshi Nakamoto, Vitalik Buterin, Charles Hoskinson, and Ryoshi.

The poll received a total of 431 votes, and 52.2% of the Community thinks the pseudonymous “Ryoshi” laid the foundation of the Shiba Inu ecosystem. Whereas 19.5% believe Vitalik Buterin, the co-founder of Ethereum (ETH), and 18.8% consider Satoshi Nakamoto, the pseudonymous founder of Bitcoin (BTC), to be the founder of the world’s second-largest canine-themed crypto in terms of market cap. Only 9.3% mull over Charles Hoskinson, the founder of Cardano (ADA). However, there are still 22 hours left to end the poll.

The crypto market is suffering its second biggest dilemma after Terr (LUNA) fall in the shape of FTX exchange insolvency. FTX Token (FTT) is trading at $4.55, down -71.14% over the last day, with a 24-hour trading volume of a staggering $3,289,522,296 ($3.28B). This unexpected fall in FTT triggers a widespread selloff in the global crypto market. All major cryptocurrencies, including the two canine-themed cryptocurrencies, Dogecoin (DOGE) and Shiba Inu (SHIB), suffered as a ripple effect. Shiba Inu plummeted nearly 20%, whereas Dogecoin (DOGE) crashed 30% on Tuesday before recovering a bit.

At press time, Shiba Inu is trading at the price of $0.00001006, with a 24-hour trading volume of $672,013,208 ($672.01M).

Cardano Founder On Recent FTX Events Its ‘Good To Be Turtle’

Mark Brennan
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Cardano Founder On Recent FTX Events Its ‘Good To Be Turtle’

Hoskinson embraces the Cardano turtle tag in light of recent crypto blow-ups.


Cardano founder Charles Hoskinson ominously tweeted, “Good to be the turtle,” today in what many perceive as a response to the recent crypto happenings.

It comes as we witness the possible collapse of FTX, one of the world’s largest and fastest-growing crypto exchanges, which launched only in 2019. Ultimately, it appears that despite huge profits from trading fees, the exchange sought to leverage customer holdings to make more profit while propping up its balance sheet with an illiquid token it mints.

Notably, competitors have often criticized Cardano for being too slow and careful. Most notably, one of the co-founders of Solana, a project that received immense support and investment from FTX, criticized the network’s programming language for being too strict on correctness. 

While the price growth and adoption of Solana have happened rapidly, it has also been one of the most unreliable and vulnerable networks in recent years, with frequent outages and hacks. On the other hand, as a user highlighted in a tweet today, Cardano has remained free from hacks and continued to grow. At the same time, projects and platforms that tried to move too fast, like LUNA, Celsius, Voyager, and now FTX, have collapsed, touting Cardano as the standard.

Notably, these sentiments received a nod from Hoskinson.

While Cardano is perceived as slow compared to other networks that appear to burn bright, as users highlight in response to Hoskinson’s turtle reference, its enduring lifespan should allow it to surpass these types of competition in the end. Notably, in recent times, Hoskinson has wasted no time highlighting the woes of detractors. For example, the Cardano chief in July doubled down on his comparison of the Solana network to a broken Nintendo console.

Here’s Why Bitcoin, Ethereum & Rest of Crypto Market Falling

Mark Brennan
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Here’s Why Bitcoin, Ethereum & Rest of Crypto Market Falling

Expected volatility events and industry collapses take their toll on the crypto markets.


With events like the US midterm elections, the CPI release scheduled for this week, and unexpected happenings in the crypto industry, it is unsurprising to see high volatility in the crypto and equity markets.

The crypto markets continue to print losses after a day packed with surprises for most crypto market participants, including veteran traders. On Tuesday, it was confirmed that the popular crypto exchange FTX was insolvent. Notably, the market had already been under significant pressure from the US midterms and rumors of FTX’s insolvency, plus an envisioned battle between FTX and Binance, as Chanpeng Zhao, CEO of the latter, had disclosed that the exchange was planning to dump all its FTX Tokens (FTT), triggering a run on the bank.

It bears mentioning that the confirmation of FTX’s insolvency comes less than 48 hours after FTX CEO Sam Bankman-Fried came out to assure users that everything is fine. However, on Tuesday, moments after on-chain data confirmed that the exchange had stopped processing withdrawals, SBF, in a tweet, came out with a shocking announcement that Binance had entered a “strategic” agreement to buy FTX, citing a “liquidity crunch.”

While the announcement surprised many, it also sent the crypto markets surging and saw Bitcoin reclaim the $20k price point. However, the excitement was short-lived, as statements from Binance chief CZ revealed that the agreement was non-binding.

Unsurprisingly, the nerves returned to the market leading to massive dumps. As a result, BTC is trading below the $19k price point for the first time in over two weeks after forming a new low in the current bear market cycle at around $17,100. Meanwhile, FTX’s native token, FTT, looks set for a LUNA-esque crash, down nearly 73% in the last 24 hours and trading around the $4 price point for the first time since December 2020.

The FTX collapse has taken many by surprise, with many describing it as the biggest crypto blow-up since Terra in May and possibly the most unexpected, as the exchange was going around trying to bail out others while operating a shady balance sheet.

Cobie, the host of UpOnly TV, disclosed that yesterday’s events are yet to sink in, expressing the sentiment in a recent Twitter thread.

“In my decade of crypto, think this exchange rug is by far the worst ever,” Cobie wrote. “Almost no time to react and lots of long-term and smart crypto ppl impacted by it.”

Notably, Solana has dropped out of the top 10 cryptocurrencies by market cap, no doubt receiving heat for its strong support from SBF. It is printing the most losses among the top 20 cryptocurrencies by market cap, down 20% in the last 24 hours. Meanwhile, Binance coin BNB is the least volatile in the top 10 aside from stablecoins, down only 0.18%.

As for the stock markets, it has not been a smooth ride either. IncomeSharks sharing the Home Depot chart on Tuesday highlighted that the stock markets had shown a lot of volatility within the day, swinging wildly and almost evening out at the end of the day.

Notably, the S&P 500 is up 0.56% today, while the Nasdaq is up 0.49%.

We are currently seeing a decoupling of the stock markets from the crypto markets but probably not in the way crypto enthusiasts would have hoped.

Shiba Inu’s BONE Is Now Payment Option For Merchants

Zabi
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Shiba Inu’s BONE Is Now Payment Option For Merchants

Bone ShibaSwap (BONE) can now be accepted as payment by millions of merchants all across the globe via NOWPayments.


 

Netherlands-based crypto payment gateway NOWPayments keeps on helping the Shiba Inu ecosystem to grow and get mainstream adoption.

In a recent development, NOWPayments announced that it had added support for the Governance token of Shiba Inu, BONE ShibaSwap (BONE), to enable millions of merchants worldwide to accept BONE as a payment. Consumers now would have an opportunity to make payments in BONE for their desired product while doing online shopping.

Besides payments, NOWPayments also enable businesses to pay their employees’ salaries in crypto and helps non-profit organizations accept crypto donations.

NOWPayments has now enabled payments of all three tokens of the Shiba Inu ecosystem (SHIB, BONE, and LEASH), commonly referred to as the “SHIB Trifecta.” Before listing BONE, the leading payment gateway only supported SHIB and LEASH.

NOWPayments also contribute towards Shiba Inu burn via the optional burn feature introduced on March 25th, 2022. This feature enables merchants to burn a portion of the profits they receive in SHIB or LEASH.

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