Binance's Decision To Accept SHIB, COMP, And THETA As Collateral Assets Signals Growing Acceptance Of Meme Coins

Cryptocurrency exchange Binance (CRYPTO: BNB) on Friday announced the approval of Shiba Inu (CRYPTO: SHIB), Compound (CRYPTO: COMP), and Theta (CRYPTO: THETA) as collateral assets. This move is part of Binance's ongoing efforts to expand its Flexible Loan and VIP Loan services.

Timeline of Compound, Shiba-inu, Theta-network

Shiba Inu (SHIB) coin is surging upwards, driven by excitement among meme coin fans for the upcoming Shibarium upgrade. Shibarium is a new and innovative improvement to its blockchain, planned for release this August. This upgrade aims to fix the current issues of slow transactions and network congestion, making the SHIB coin even better.

In a refreshing turn of events for the meme coin market, Shiba Inu (SHIB) is experiencing a significant uptick in its price action. After breaking through the ascending triangle pattern, a bullish sign in technical analysis, the dog-themed cryptocurrency has been in a growth phase, showing promising signs of recovery.

Binance has continued to make significant strides, cementing its role as a crucial player in the market. One of the recent moves involves the addition of 22 new loanable and collateral assets to its Flexible Loan and VIP Loan services, including the meme-inspired cryptocurrency, Shiba Inu.

Binance Pay, the payment infrastructure arm of the leading crypto exchange, has recently joined forces with YesStyle, a major online marketplace for cosmetics and grooming products. This epic collaboration has paved the way for over 300 cosmetics brands on the platform to accept payments in various cryptocurrencies supported by Binance Pay, including the widely popular Shiba Inu token (SHIB).

August 4th marked a milestone for the crypto community as Binance, the world's leading cryptocurrency exchange, unleashed its latest move in decentralized finance. In a strategic expansion, Binance's Flexible and VIP Loan services now include 22 additional loanable and collateral assets.

Shiba Inu (SHIB) is experiencing a remarkable surge in its upward movement, fueled by growing anticipation among meme coin enthusiasts for the upcoming introduction of Shibarium, an innovative upgrade to its layer 2 blockchain. Scheduled for release this August, Shibarium holds the key to addressing the prevailing scalability and network congestion issues that the Shiba Inu blockchain currently grapples with.

Shiba Inu, the popular meme cryptocurrency project, has announced the launch of its new product, ShibariumSSI, a platform built around the concept of Self-Sovereign Identity (SSI). The announcement, which arrived via the official Shiba Inu Twitter account, highlights the key features of the new platform, which are aimed at providing users with greater control over their digital identities in a time when data privacy is a major concern.

It has been a very eclectic week for the digital currency ecosystem, with volatility unsettling most digital currencies, including popular meme coin Shiba Inu (SHIB). Shiba Inu has seen a gradual but steady offset in terms of its burn rate as a total of 26,706,224 SHIB are currently sent to dead wallets at the time of writing to complement the millions that have been burnt thus far this week.

Shiba Inu (SHIB) has been garnering attention in recent weeks, with its price showing a good recovery after reaching a yearly low in June. This coincides with the excitement around the upcoming launch of Shibarium, a layer-2 blockchain network for the second-largest meme token.

In a surprising turn of events, a staggering 3.3 trillion tokens of the meme-inspired cryptocurrency Shiba Inu ($SHIB), valued at over $28 million, were withdrawn from centralized cryptocurrency exchanges in July. This significant withdrawal has led analysts to believe that the decrease in available supply could potentially impact the cryptocurrency's market dynamics.