Binance.US Provides a Major Breakthrough for Shiba Inu Community

Binance U.S, the world’s leading exchange in terms of daily trading volume, has sent a significant message to the Shiba Inu community by introducing a new trading pair for the popular cryptocurrency known for its dog theme. This move is considered a major development for the community that supports Shiba Inu, indicating that it has gained more recognition and acceptance among crypto traders.

Binance’s US division has revealed its plan to launch a fresh trading pair for the digital currency Shiba Inu (SHIB) versus the United States Dollar (USD) on February 24th, 2023. This announcement implies that the exchange intends to enable its users to trade SHIB with USD, creating another option for those who wish to invest in or trade the cryptocurrency.

#BinanceUS will delist #KSHIB and list SHIB/USD.

KSHIB / $USD trading pairs will be delisted and all pending $KSHIB spot trade orders will be canceled on February 20, 2023 at 10 p.m. EST.https://t.co/AZwoBOgsqS will list and open trading for #SHIB/#USD https://t.co/hqHITPPAf5… pic.twitter.com/7G0PkRHPva
— Binance.US 🇺🇸 (@BinanceUS) February 14, 2023

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Binance.US On February 20, 2023, the US will delist the KSHIB/USD trading pair and cancel all outstanding KSHIB spot trade orders.

Additionally, Binance.US has stated that on February 24, 2023, all of its customers who now own KSHIB will get converted SHIB at a rate of 1 KSHIB = 1,000 SHIB. The trading pair SHIB/USDT will be accessible for trade throughout this period of transition.

This action by Binance.US is a big breakthrough for Shiba Inu and its expanding community as it will make the famous cryptocurrency with a canine theme more accessible and available to consumers who want to trade it against the US dollar.

It was previously reported that Binance has integrated Shiba Inu into its Proof of Reserves (PoR) system. According to the PoR page of Binance, the exchange currently possesses a total of 84.4 trillion SHIB tokens, which have a total value of $1.06 billion as of the time of writing. Meanwhile, the customers have a net balance of 82.4 trillion SHIB tokens that are worth $1.03 billion. This shows that the reserve ratio is at 102.4%, which implies that Binance holds more SHIB tokens than the total amount owed to customers.

Olasunkanmi Abudu

Olasunkanmi Abudu is a Web3 content writer with over five years of experience covering blockchain, decentralized finance, and digital assets. He specializes in producing well-researched and accessible content that explains complex technologies and market trends to both general readers and industry professionals.

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