A huge Ethereum (ETH) whale recently made a big purchase. The altcoin in the focus of its acquisition was Shiba Inu (SHIB). Here are the details…
Giant Ethereum whale added Shiba Inu to its basket
According to the latest data published by Whale Stats, which offers on-chain data, the 208th largest Ethereum whale is to buy Shiba Inu (SHIB) for $ 6.08 million. made the purchase. Looking at the whale’s wallet, it can be seen that there is a total of $218 million worth of cryptocurrencies. At the center of its investment portfolio are two stablecoins: $197 million USD Coin (USDC) and $18.8 million Tether (USDT).
Aside from this massive purchase, looking at the overall whale movements, 15. The biggest Ethereum whale seems to have bought $1.1M SHIB yesterday. So, over the past day, the top Ethereum whales have accumulated a total of $7.1 million worth of SHIB tokens.
SHIB continues to burn
The cryptocurrency continues to burn as whales continue to head towards SHIB. Shiba Inu (SHIB) seems to have accelerated the burning of its tokens after more than 745 million tokens were burned in just 24 hours. The figure indicates that the burn rate of SHIB has exceeded 6,700 percent. According to ShibBurn, which monitors the burns in the ecosystem, most of the token burning came from a Shiba Inu-related service called ETH SHIBA, which burned a little over 400 million tokens on the Ethereum Blockchain.
Similarly, another project related to the SHIB community has shared data showing that they have burned a total of 300 million Shiba Inu tokens in the past few days. It is worth noting that as we have also reported as Kriptokoin.com, token burns are done by sending SHIB to inaccessible addresses and effectively removing the tokens from circulation. According to available data, a total of 410.30 trillion SHIBs have been burned since the cryptocurrency was launched. At the time of writing, SHIB is the 15th largest cryptocurrency by market cap and is changing hands at $0.00002247, up 1.8 percent.
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