ShibaInu’sdecentralizedexchange,ShibaSwap,hasunveileditsnewversion,ShibaSwap2.0,whichhasgoneliveonthemainnetwork.
ThelaunchwasrevealedontheofficialShibaSwapaccountonXtogiveitsusersbettertoolsandenhancedtradingoptions.Theupgradealsointroducessomenewfeatureslikeconcentratedliquiditypools,smartswaps,andpair-levelanalytics.
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Theseupgradesaremeanttoincreasetheplatform’seffectivenessaswellasrewardsfortheusers.Theteampointedoutthatthenewplatformcomeswithasmoothonboardingmechanism.Thiswayexistingliquiditypoolscanbesmoothlytransitionedtothenewplatform.
IncreasedActivityAmongSHIBWhales
Postthelaunch,ShibaInuhasobservedanincreaseinthetransactionsizeoflargeinvestors.AccordingtoIntoTheBlockanalyticsplatform,2.23trillionSHIBwastradedwithinthelast24hours.
Ithasavalueofaround$36.81millionwhichrepresentsa60.73%rise.Thisincreasedactivitymaymeanthatmajorinvestors,orwhales,areadjustingtheirpositionsinlightofthenewShibaSwap2.0andotherchangesinthemarket.
However,thetradingvolumedoesnotreflectpositivelyonthepriceofShibaInuasitfellby4.83%inthelast24hoursto$0.00001689.ThisisinlinewiththegeneralfluctuationsinthecrytocurrencymarketposttheTetherallegedinvestigation.
NewFeaturesAimtoAttractUsers
Concentratedliquiditypoolsenableuserstoprovideliquiditywithincertainpriceregimes.Thiscanmeanhigherreturnsandmoreflexibility.
ItalsooffersasmartswapmechanismthroughwhichuserscanswitchbetweenV1andV2poolsinordertogetthebestswaprates.Anothersignificantimprovementisthepair-levelanalytics.
ItshowsinformationabouttheTVL,tradingfees,anddailyvolumesforeachpairtohelpusersmakeinformeddecisions.Additionally,ShibaSwap2.0hasabetterrewardsprogramaswell.
Thefeatureallowsuserstoclaimrewardsdependingontheircontributiontoliquiditypoolwithouthavingtowithdrawtheirfundsthusmakingtheprocesseasier.Seamlessmigrationalsoenablesotherliquidityproviderstoswitchtheirpositionswithoutmuchstrugglethuspromotingparticipationandusabilityontheplatform.
SHIBPriceTrendsandMarketSentiment
Despitethenewplatform’slaunch,SHIB’spriceremainsunderpressure.On-chainanalyticsfirmSantimentnotedariseinbearishsentimentamongShibaInuinvestors.TheplatformobservedthatSHIBhasfacedlargesell-offs,influencedbybroadermarketcorrectionsledbyBitcoin’srecentpricemovements.
However,Santimentsuggestedthatthisnegativesentimentcouldcreatebuyingopportunities,asmarketsoftenmovecontrarytothecrowd’sexpectations.ThefirmhighlightedthatSHIBandothermajorcryptocurrenciesmightseeapricereboundifinvestorscapitalizeonthecurrentdip.
Source:X
ShibaInu’sfundamentalsalsohintatapossiblerecovery.TheSHIBburnratehassignificantlyincreased,with2.6millionSHIBtokensburnedinthepast24hours.Shibarium,ShibaInu’slayer-2blockchain,reportedasurgeindailytransactions.
Itreached4.77milliononOctober24,thehighestthisyear.Increasednetworkactivity,combinedwiththerisingburnrate,couldsignalpositivemomentumforSHIB’spriceinthenearterm.
Despitetherecentpricedecline,theShibaInucommunityremainshopeful.AstatementfromLUCIE,ShibaInu’smarketinglead,urgedthecommunitytoremainpatient,hintingatfuturedevelopmentswithintheecosystem.
TheSHIBArmy,astheproject’ssupportersareknown,continuestomonitortheplatform’sprogress.TheincreasingadoptionofShibariumcoulddrivedemandandboostSHIB’svalue.
thecoinrepublic.com