Binance.US, a subsidiary of the popular crypto trading platform Binance, has announced that on Feb 24, it will remove Kilo Shiba Inu (KSHIB) from its listings and introduce Shiba Inu (SHIB) as a new trading option against the U.S. Dollar (USD). However, This move will bring a distinct and exclusive opportunity for traders on the platform.
Binance.US converts KSHIB to Shiba Inu for users, adds KSHIB/USD trading pair, and maintains SHIB/USDT during the transition. However, these changes improve the trading experience and create opportunities for cryptocurrency traders. KSHIB holders will receive Shiba inu payouts at a rate of 1 KSHIB for every 1,000 tokens by Feb 24.
The meme-themed token has a metric prefix known as “kilo,” which equates to 1,000 tokens. After converting their SHIB to KSHIB, However, users can seamlessly trade SHIB for USD using the KSHIB/USD trading pair by eliminating several decimal places from SHIB. Customers can switch between KSHIB and SHIB without incurring any fees.
To exchange SHIB for USD, customers must convert their token to KSHIB first. However, since deposits and withdrawals are only supported for the meme-themed token, customers who wish to withdraw funds must first convert their KSHIB to the meme-themed token. Before converting their token to KSHIB, customers must deposit their it to their Binance.US wallet.
Binance.US Replaces KSHIB With SHIB/USD
However, investors highly anticipate the Shiba Inu ecosystem’s release of the Shibarium layer-2 network’s Public Beta Testnet. Therefore, Bone, a token essential to the L2 blockchain, will power the network’s management on Shibarium, and every transaction made on Shibarium will burn the tokens.
However, several optimistic indicators suggest it could hit $1, and we will explore in depth in this post the variety of factors that could influence its pricing, According to Bone’s official Twitter account.
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Binance.US’s move to replace KSHIB with SHIB/USD should result in an enhanced customer trading experience. At the moment, the token holds the 16th spot in terms of cryptocurrency market capitalization.
This article conveys general information and the opinions expressed should not be considered personal advice for any individual or specific security or investment product.