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

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.