• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Nexo

ShibaSwap, SHIB’s DEX, Tops $1B TVL 24-hours After Launch

Anifowoshe Ibrahim by Anifowoshe Ibrahim
1 year ago
in Uncategorized
0
Advertisement

Shiba Inu new DeFi platform, ShibaSwap, has topped $1 billion in total value locked in just 24 hours after launch, and it is hiking Ethereum network fees.

Shiba Inu Is A Product Of A Meme Coin

Dogecoin (DOGE) has shown the world that even a joke project can grow in value and notoriety in the cryptocurrency sector. This phenomena paved the way for a slew of ‘meme’ cryptocurrencies to emerge, and a quick glance at CoinMarketCap’s trending tokens list reveals that the meme effect has taken hold, this of course Shiba Inu.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Shiba Inu (SHIB), the latest meme coin to catch investors’ attention, rose to prominence after Ethereum (ETH) developer Vitalik Buterin donated more than $1 billion worth of SHIB to the India Covid relief fund.

SHIB/USDT daily chart. Source: TradingView

While many observers expected Shiba Inu to go away like the other meme coins that rose to prominence and then plummeted, it has instead grown into a thriving project with its own swap interface, yield farm, and emerging DAO structure.

Related article | Ethereum Founder Burns Billions Worth Of Coins

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

TVL In ShibaSwap Surpasses $1 billion, Hikes ETH Gas Fees

While some networks have been accused of employing spam transactions to boost on-chain activity, Shiba Inu has reached $1 billion in total value locked on the platform just one day after its inception.

1 Billion dollars #TVL (Total Value Locked) in a single day!
Incredible!

Come to https://t.co/P8p0pb5uoZ, and Stake (BURY), Farm (DIG), get rewards, and trade your tokens with us. #ShibaSwap #ShibArmy #Crypto $SHIB $LEASH $BONE pic.twitter.com/Ldi5FmvHpH

— Shib (@Shibtoken) July 7, 2021

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

According to data from Defi Llama, this is a strong indicator of support for the newly released interface, which now ranks in the top 30 in terms of total value locked.

The project is currently worth more than Quickswap (QUICK) and Mdex (MDX) at the time of writing (MDX).

The early enthusiasm surrounding the debut of Shibaswap resulted in a 14 percent increase in the price of Shiba inu on July 6, but the price has since fallen to $0.00000867, which is 78 percent lower than the all-time high of $0.0000388.

Since the Berlin upgrade, Ethereum gas fees had been around historic lows, but the debut of ShibaSwap resulted in a notable increase in gas costs, as crypto Twitter trader Joe McCann pointed out.

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

The three contract addresses reported by McCann remain in the top 10 gas guzzlers, and the Shiba migrator now ranks third in terms of fees collected in the last three hours, albeit the figures have moved slightly after this tweet was written.

shiba inu
Top 11 Ethereum gas guzzlers. Source: Etherscan

As shown in the table above, Uniswap V2 is the only other contract that has generated more Ether fees in the last 24 hours, and the three SHIB-related contracts have collectively generated more than $1.7 million in fees.

Related article | Ethereum DeFi plus Binance Smart Chain Surpass $100 Billion In Total Value Locked

 Featured Image by Unsplash - Charts by TradingView
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Anifowoshe Ibrahim

Anifowoshe Ibrahim

Related Posts

By the Numbers: The Signs Bitcoin Miners Are Done Selling

By the Numbers: The Signs Bitcoin Miners Are Done Selling

3 hours ago
Crypto

Crypto Exchanges Under Probe In India For $125 Million Laundering Scheme

6 days ago
Cardano ADA ADAUSDT Mark Cuban

What If Cardano Was On “Shark Tank”?, Billionaire Mark Cuban Voices His Opinion

1 week ago
picture of Kim Kardashian

How Kim Kardashian Tried To Escape Lawsuit Over Alleged Ethereum Max Promotion

2 weeks ago
Bitcoin BTC BTCUSDT

How Bitcoin Could Turbocharge Solar And Wind Energy, Ark Research Says

3 weeks ago
LBank Exchange Will List QUINT on July 28, 2022

LBank Exchange Will List QUINT on July 28, 2022

3 weeks ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.