Shiba Inu Community Cheers as Gate.io Embraces Shibarium

Gate.io, a digital currency exchange, has announced its integration with Shibarium, the layer-2 network of Shiba Inu. This marks a pivotal moment for Shibarium as it gains recognition and support from one of the industry’s major players.

Integration Sparks New Opportunities

Gate.io’s recent decision to support Shibarium opens up new avenues for Shiba Inu’s growing network. Users now have the ability to withdraw Shibaswap (BONE) tokens to their Shibarium-compatible wallets, such as Metamask, directly from the Gate.io platform. This integration not only streamlines the process but also enhances accessibility to Shibarium’s diverse range of decentralized applications (dApps).

Shibarium’s Rising Popularity

Despite facing challenges in its early stages, particularly in securing partnerships with top-tier exchanges, Shibarium has steadily garnered attention in the crypto space. Its rapid accumulation of capital and increasing transaction numbers highlight its rising popularity. Furthermore, this development aligns with the Shiba Inu community’s expectations, which foresees further adoption by other leading exchanges, given the cryptocurrency’s substantial user base of over 1.6 million holders.

Gate.io joins the ranks of other exchanges like Australia-based GroveX in recognizing the potential of Shibarium. This growing network of support underlines Shibarium’s appeal in the market and its capacity to attract prominent players in the cryptocurrency exchange arena. With the Shiba Inu team actively pursuing further integrations, this could mark the beginning of a broader acceptance and integration of Shibarium across the industry.

SHIB Price Trend

Currently, Shiba Inu trades at $0.000010, witnessing a slight decline of 1.91% in the last 24 hours. Despite these fluctuations, the cryptocurrency maintains its strong position in the market, ranking 17 on CoinMarketCap with a live market cap of over $5.69 billion.

SHIB/USD 1-day price chart (source: CoinMarketCap)

This integration could potentially influence its market performance, as accessibility and utility often play critical roles in a cryptocurrency’s value.

Read Also: Moody’s Warns of Risks in Rising Tokenized Investment Funds

✓ Share:

Kelvin is a distinguished writer specializing in crypto and finance, backed by a Bachelor’s in Actuarial Science. Recognized for incisive analysis and insightful content, he has an adept command of English and excels at thorough research and timely delivery.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.