Blocked funds at Shibaswap reach $1.5bn in a week

July 16, 2021

Blocked funds at Shibaswap

In the week since its launch, decentralised exchange (DEX) Shibaswap has raised $1.54bn in assets, according to service DeFi Llama.

DEX was launched by the creators of a Dogecoin meme cryptocurrency clone called Shiba Inu (SHIB), as well as LEASH and BONE.

In comparison, Uniswap and Sushiswap have $5.82bn and $3.32bn in blocked funds respectively at the time of writing.

Users of the media platform Reddit have questioned the technical quality of DEX. Service DeFiSafety rated Shibaswap's reliability at 35%.

Recall that bitcoin exchange Coinbase Pro

In May 2021, the price of Shiba Inu soared 140% overnight, amidst which the average fee for an Ethereum transaction reached $60.

Vitalik Buterin, who turned out to be the largest holder of SHIB tokens, burned 90% of the coins he owned, worth more than $6.5 billion.

Recall that bitcoin exchange Coinbase Pro added Shiba Inu to its listing in June, after which the cryptocurrency's price soared by 22%.

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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