Shiba Inu Now Largest Held Asset After USDC for Ethereum Whales, Price Adds 4%

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U.Today
5d ago2022-06-20

According to WhaleStats data, Shiba Inu is now the largest held crypto asset for the top 100 Ethereum whales after USDC, while Ethereum (ETH) retains the number one spot. According to data provided by the blockchain data tracker, the top 100 ETH whales now hold $423,180,380 worth of Shiba Inu, or 15.55% of their holdings. Circle's Stablecoin, USDC, on the other hand, accounts for 18.08%, or $491,815,225 worth.

In the past week, U.Today reported that the percentage of long-term holders was 19%. This number has increased to 21% as Shiba Inu ''hodlers'' continue to increase.

According to the IntoTheBlock's holders' composition by time held, 21% of SHIB holders have held onto their tokens for more than a year, 76% have held within a year, while 3% have held onto their tokens for less than a month. As Shiba Inu's population continues to grow, mid-term holders have also been redistributed.

The number of Shiba Inu holders has seen immense growth in recent months, reaching 1,184,559 at press time, according to WhaleStats data.

Shiba Inu dipped to a low of $0.0000071 on June 18 amid the latest crypto market declines. At the time of publication, SHIB was trading up nearly 4% at $0.00000815.

95 million SHIB burned in last 24 hours

Per the Shibburn Twitter handle, over 83,335,225 SHIB tokens have been burned within the last 24 hours, and nine transactions have been made. According to the Shibburn website, a total of over 95,183,018 SHIB have been burned. The Shiba Inu team published an update on its most recent blog post as Shibarium prepares for a possible launch.

Shibarium is a Layer 2 solution developed by xFUND and Shiba Inu developers, with BONE set to be the Shibarium Protocol's "gas." This "gas" will provide the essential functionality for smart contracts and transactions to be processed and executed.

BONE, one of Shiba Inu's ecosystem tokens, currently has a fixed supply of 250 million. The community is now about to decide whether to halt BONE farms once the 230 million supply has been met or to increase the maximum supply from 250 million to 270 million.