Binance, the largest cryptocurrency exchange in terms of trading volume, recently made an announcement regarding the withdrawal of four crypto assets, namely SHIB, FXS, TWT, and 1INCH from its “innovation zone”.
Starting April 18, these assets will be fully accessible to users.
The reason behind this move is that Binance believes that many projects gain value over time and meet high standards, thus making them eligible to be taken out of the innovation zone.
The innovation zone was created back in September 2020 to allow users to trade new, high-risk, and volatile crypto assets.
When evaluating assets in the innovation zone, Binance conducts a thorough analysis of the tokenomics and behavior of each project.
They take into account various factors such as team engagement, trading volume and liquidity, network stability and security, response speed to requests, ethical behavior of the project, and its contribution to the cryptocurrency ecosystem.
By doing so, Binance ensures that only those projects that meet the high standards are allowed to be traded on their platform.
The withdrawal of SHIB from the innovation zone is a significant step for the coin as it will allow it to take an equal place among other cryptocurrencies listed on the exchange.
This proves the growing popularity of SHIB in the cryptocurrency market.
It’s worth noting that Binance listed SHIB in the innovation zone only in May 2021, nine months after the launch of the Shiba Inu cryptocurrency.
Recently, SHIB has been gaining a lot of community attention, especially after the launch of Shibarium’s beta Puppynet last month.
In 2022, the creators of the Shiba Inu coin announced the launch of their own SHI stablecoin and TREAT reward token, which they believe will be widely used in the Shiba Inu ecosystem.
This move by Binance indicates that SHIB has come a long way since its launch, and it has now established itself as a significant player in the cryptocurrency market.