The gluttonous Shiba Inu coin has become the leader in gas consumption on the Ethereum network. The token failed to become a “Dogecoin killer”, but the ecosystem is actively developing, and the project is releasing new products.
Shiba Swap came to the yard
The Shiba Swap platform, developed by the anonymous Shiba Inu team, invites users to swap tokens as well as stake SHIBs. The launch was announced July 6th on the ecosystem’s official twitter.
On Tuesday, the ShibaSwap contract collected the most trading commissions, Shiba Migrator is in second place, and the Shib token itself took the fifth line. But that’s not all. xSHIB and LEASH – two more tokens associated with the Shiba Inu ecosystem – moved up to 6th and 17th places, respectively. Business angel and investor Joe McCann drew attention to this.
If we check Etherscan we can see that the #1 gas guzzler is the ShibaSwap contract.
#3 is the $ SHIB token.
and #4 is the Shiba migrator. pic.twitter.com/ijrG6Fejxc
— Joe McCann ◎ (@joemccann) July 6, 2021
At the time of this writing, the ShibaSwap contract ranks second in terms of gas consumption in the Ethereum network. It accounts for 7%. Shiba Inu token has moved to 9th place.
Source: Etherscan
DeFi tokens have grown as if on command
Other DeFi coins have also risen in value amid the hype over the launch of a new decentralized platform. Joe McCann considersthat together with Shiba Swap a new season of DeFi tokens has started.
On the day of the launch of the exchange, Aave and Compound tokens rose in price by more than 20%, and KuCoin increased by 42% per day. Currently, Aave is $ 303 and KuCoin is $ 11.8. During the day, the tokens were adjusted by 8% and 14%, respectively.
What kind of beast, Shiba Inu?
The Shiba Inu meme coin began gaining popularity in May, amid the hype around Dogecoin. For several months, the token has risen in price by more than 50,000,000% (500,000 times) and peaked in mid-May at $ 0.000037910000. Now SHIB is sold for $ 0.000008239 (₽0.0006148) and is ranked 29th in the cryptocurrency rating with a capitalization of $ 3.2 billion.
“It is important to understand that this is not just a hype. We are now seeing a massive influx of new traders into cryptocurrencies, ”wrote Ben Kasselin, head of research and strategy at AAX.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
