Binance Moves 137 Billion SHIB Tokens in Internal Transfer

A recent Binance transaction involving Shiba Inu (SHIB) tokens has sparked interest within the crypto community.

On August 11, the exchange moved a massive 137 billion SHIB tokens, valued around $1.92 million, between its own wallets.

This internal transfer from Binance wallet 14 to wallet 16 appears to be a standard procedure rather than a withdrawal, suggesting routine asset management rather than an external transaction.

Exchanges commonly redistribute tokens across different wallets for reasons such as security and liquidity management.

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Although this transfer is substantial, it represents a small portion of Binance’s total Shiba Inu holdings.

The latest Proof-of-Reserves report shows Binance holds 62.8 trillion SHIB tokens, down slightly from 62.95 trillion the previous month.

This reduction might indicate increased investor retention in anticipation of future price gains. Despite the decrease, Binance maintains a healthy collateral ratio of 102.57% for SHIB tokens, ensuring sufficient backing for user holdings.

Alexander Stefanov