Binance removes Shiba Inu from the Innovation Zone, recognizing its quality
Shiba Inu has reached a new milestone as Binance recognizes the meme coin’s full potential and tokenomics. A recent one announcement shows that Binance has moved Shiba Inu from its innovation zone to stand as a fully supported coin on its platform.
During its periodic review of crypto projects, Binance noted that SHIB has proven worthy and meets its high standards. The latest development comes after nearly two years that Binance supported SHIB but considered the token an innovative, high-risk and volatile cryptocurrency.
Binance says the Shiba Inu meets high standards
According to one announcement, Binance decided it was time for Shiba Inu and three other tokens to leave the innovation zone after the review. Binance introduced the Innovation Zone in 2020 with the aim of providing users with a haven to trade new and innovative projects, knowing the risks involved.
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Crypto assets in the innovation zone are considered highly volatile and risky. According to Binance, it will only move tokens in the innovation zone out when they prove worthy of full support.
In particular, the cryptocurrency exchange evaluates cryptocurrencies based on certain factors such as ethical behavior, responsiveness, development activity, trading volume and liquidity, network stability and much more.
Binance noted that it evaluates projects listed on its platform based on these factors and removes those that fall short in these areas. After a recent review, the leading cryptocurrency platform decided that Shiba Inu is mature enough to leave the innovation zone.
Shiba Inu is now among fully supported cryptoassets such as Ethereum and Bitcoin. This achievement demonstrates Shiba Inu’s growing influence and utility in cryptocurrency. It took nine months after Shiba Inu’s launch in 2020 for Binance to do so list that in the innovation zone in May 2021.
The SHIB community is asking Binance to list BONE
Binance’s latest move follows weeks of increasing social and development activity in the Shiba Inu ecosystem. These activities followed the hype surrounding the Shibarium testnet launch and the upcoming mainnet launch.
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The SHIB community also witnessed an increase in burn rates due to the increased social activity as Shibarium gained more adoption. The growing support for Shibarium among the meme coin community manifested itself in the increasing number of daily transactions and wallets.
Although Binance has fully supported SHIB, the exchange has yet to recognize Bone. As such, the Shiba Inu community asked Binance to list BONE. Society launched a signature campaign on Change.org, beckoning Binance to list the token.
Meanwhile, have Shiba Inu price is trading bearishly today in line with the declining global cryptocurrency market cap. Meme coin price has fallen by 0.78% and traded at $0.00001148 in the last 24 hours.
Featured image from Pixabay and chart from Tradingview
