Binance.US just dropped a coin meant to be mathematically pegged to Shiba Inu and instead decided to roll out full support for native crypto-asset SHIB.
The US-based crypto exchange initially supported Kilo Shiba Inu (KSHIB), which is equivalent to 1,000 Shiba Inu (SHIB) tokens and should make it easier to buy SHIB with the US dollar.
Flash forward to today where Binance.US has now officially launched support for SHIB/USD and ended its support for KSHIB/USD.
Trading is now available for $SHIB / $USD on #BinanceUS!
@Shibtokens are the medium of exchange within the #Shiba Inu ecosystem that includes ShibaSwap, a #DeFi platform that offers liquidity pools, token swaps, #NFTs, voting rights within the DAO, and more.
— Binance.US ?? (@BinanceUS) February 24, 2023
Clients who have invested in KSHIB will see their holdings converted automatically.
“Trading pairs KSHIB/USD [are] delisted and all pending KSHIB spot trade orders will be cancelled…
All clients currently holding KSHIB will receive converted SHIB distributions at a ratio of 1 KSHIB = 1,000 SHIB.”
Shiba Inu has had an explosive start to 2023 as the crypto project prepares to launch its own custom Layer 2 blockchain on the Ethereum network called Shibarium.
SHIB started the year at $0.00000814 and is up to $0.00001253 at the time of publication, up 54%.
This month, investors created a petition to add Bone ShibaSwap (BONE) to Binance’s network of global crypto exchanges. The petition has garnered more than 2,000 signatures at the time of publication.
BONE will be a core part of Shibartium and will be used to pay gas fees for all transactions.
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