Shiba Inu Token Eyes Delisting From Major Exchange: What’s Happening?

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As a seasoned analyst with years of experience navigating the volatile and ever-evolving world of cryptocurrencies, I find myself both intrigued and unsurprised by OKX’s decision to delist LEASH from its platform. While it’s disappointing for those who have invested in this token, particularly given its association with the popular Shiba Inu ecosystem, the move is not entirely unexpected.

Recently, it was disclosed that OKX, the world’s second largest cryptocurrency trading platform, intends to remove LEASH from its listings. Notably, LEASH is a significant component, alongside SHIB and BONE, in the environment surrounding the widely recognized meme-based cryptocurrency of Shiba Inu.

LEASH, a cryptocurrency introduced by an anonymous creator of Shiba Inu in 2021, was designed with a purpose: to purchase real estate within a metaverse project inspired by the meme coin. Moreover, during the initial sale of the Shiba Inu-themed NFT collection, Shiboshis, LEASH played a significant role.

As an analyst, I find that various aspects were deemed inconsequential by the OKX team, leading them to take the decision to delist the Shiba Inu token from their platform.

Among six well-known cryptocurrencies from the early market days, LEASH was instructed for removal due to the need to preserve a strong trading platform and eliminate assets that fail to satisfy the listing standards.

No need for LEASH?

Based on data from CoinMarketCap, it is this particular exchange that holds the highest liquidity for the LEASH token, contributing approximately 24.78% to the overall trading volume of these tokens.

Shiba Inu Token Eyes Delisting From Major Exchange: What's Happening?

In financial terms, it was merely approximately $576,000 – a remarkably modest sum compared to the vast cryptocurrency market, particularly for a listing on one of the major platforms.

It’s plausible that with the growth of the metaverse and Non-Fungible Token (NFT) sector in the crypto market, assets related to these areas and their associated utilities might be overlooked or removed. Shiba Inu hasn’t seen significant advancement in its metaverse initiative, instead directing efforts towards Shibarium. Consequently, it’s not surprising that LEASH has garnered a certain reputation, as its future prospects appear rather vague at the moment.

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2024-09-30 14:37