Will This Binance Update Let Shiba Inu Price To Zoom?

Binance, the world’s largest crypto exchange dropped a massive announcement for some cryptocurrencies. The exchange platform has added Shiba Inu and two new tokens to its list of supported cryptocurrencies on Binance Card.

Shiba Inu to gain 60 million merchant access

The crypto exchange announced that it has added support for Shiba Inu (SHIB), Avalanche (AVAX), and XRP. However, it added that the Binance Card is only available for the users in European Economic Area (EEA) and Ukrainian refugees living in the same region.

As of now, the Binance card supports around 14 cryptocurrencies.

Shiba Inu highlighted that now over 60 million merchants can pay by SHIB after this addition. However, users will be getting up to 8% cashback with zero annual or FX fees.

Since the announcement, Shiba Inu’s price has jumped by over 2%. SHIB is trading at an average price of $0.000012, at the press time. It is important to note that Shiba Inu prices have recorded a surge of more than 15% over the past 30 days.

However, its 24 hour trading volume has jumped by over 17% to stand at $315 million. The world’s second largest meme cryptocurrency is holding a market cap of over $6.6 billion.

Earlier, the SHIB team revealed the names of their upcoming Collectible card game (CCG), Shiba Eternity. It informed that they are working with Playside Studios for the testing schedule and its launch date. This can be measured as the next big step after the launch of its own metaverse.

Binance update helps XRP, AVAX to surge

Meanwhile, Binance’s new big announcement will directly be helping XRP and AVAX tokens to surge.

XRP’s growth has been stagnant due to Ripple’s ongoing lawsuit with the SEC. XRP prices also jumped by around 2% after the Binance announcement. It is now trading at an average price of $0.3734. Its 24 hours trading vol is marginally up to stand at $956.4 million.

However, AVAX price also surged by 4% to trade at an average price of $24.31.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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