Market Analysis

Shiba Inu Lists on Bybit While Whales Dumped $400 Mln SHIB -Trending Updates.

Shiba Inu is currently accessible on Bybit for spot trading

Bybit, one of the largest crypto derivatives exchanges, chose to expand the range of cryptocurrencies it supports after starting spot trading for Bitcoin, Ethereum, XRP, and EOS in July. Shiba Inu is now accessible for spot trading, according to an official notification from Bybit. Formerly, Bybit provided the SHIB1000/USDT derivatives pair, which allowed traders to exchange SHIB with up to 25x leverage while using Tether as security. Shiba Inu was claimed to be listed on Mercado Bitcoin, Brazil’s largest cryptocurrency market.

In the previous 24 hours, SHIB whales dumped $400 million on the market

According to WhaleStats, several major domains opted to get rid of Shiba Inu by selling $400 million in tokens. Notwithstanding this, the meme token continues to account for the bulk of tokens on big addresses, with the USDC stablecoin serving as its main opponent. A big sell-off was most probably received by the current market’s bear cycle and SHIB’s market performance. Shiba Inu has been dropping in value since reaching the previous all-time high, according to TradingView.

A fresh Ethereum update will be released soon

Arrow Glacier, the upcoming Ethereum network upgrade, is slated to go live on Wednesday night, December 8, 2021, at block number 13,773,000. The upgrade is intended to update the parameters of the network’s difficulty bomb (a mechanism built to boost the network’s difficulty level, causing miners to cease creating new blocks) and push it back for many months. The difficulty bomb will only affect PoW networks, which exist solely on the Ethereum mainnet and the Ropsten testnet.

Craig Wright was forced to pay $100 million in restitution

The Wright vs. Kleiman lawsuit has already concluded. Dr. Craig Wright (also known as a self-proclaimed Satoshi Nakamoto) was found not guilty of violating his partnership with late computer scientist Dave Kleiman by a federal jury in the Southern District of Florida. Wright, on the other hand, was held responsible for conversion and compelled to pay $100 million in damages to W&K Info Defense, which was represented by Dave Kleiman’s brother, Ira Kleiman. According to Stephen D. Palley, a partner at the Washington-based law firm Anderson Kill, the jury’s decision does not benefit Wright.

Just after the hack, the Shiba Inu community wants to help BitMart

Shib Army, one of the largest crypto groups on Twitter, couldn’t ignore the recent situation with the BitMart exchange and decided to provide a helping hand to the trading platform by publishing a tweet in its support. Last Saturday, BitMart was hacked for $200 million, losing around 900 billion SHIB as well as over 20 other tokens on Ethereum and Binance Smart Chain. The exchange is now doing a security audit while temporarily suspending withdrawal operations.

Leave a Comment

Your email address will not be published.