Shiba Inu-focused Twitter account Lucie hinted at an upcoming announcement about the Shiba Inu ecosystem.
Lucie tweeted about the possibility of a Shiba Inu cold wallet announcement this week.
A “cold wallet” is a cryptocurrency wallet that securely stores a user’s private keys offline, usually on a physical device, to prevent hacking and theft.
Screenshots shared by Lucie show that an update or announcement regarding the Shiba Inu cold wallet will be released in the next few days, or even sooner if all goes well. The screenshot reads like this:
“Just a small update, Q&A with Huobi exchange, Q&A with Certik and possible cooperation is currently underway”.
According to the initial announcement about the Shiba Inu cold wallet, the Shiba Inu development team is considering a partnership with two industry giants (likely Huobi and Certik) to launch the wallet. So far, no details have been revealed.
hAccepted by hundreds of businesses SHIB payment
Cryptocurrency Payment Processor BitPay Announce Support SHIB through the end of 2021. Since then, their trend of accepting crypto payments has grown dramatically. BitPay noted in a blog post that hundreds of companies are now accepting payments directly through SHIB.
They also list 11 major companies that accept SHIB as a form of payment, including SlingTV, Newegg, American Cancer Society, Menufy, Jomashop, AMC Theaters, Carolina Hurricanes, APMEX, HOSTKEY, David SW, and Twitch.
Gucci is one of the largest luxury brands to accept the cryptocurrency, allowing customers to spend SHIB directly at 70% of its retail stores.
Why TVL SHIB soars?
SHIB recently made headlines as its Total Value Locked (TVL) soared, growing a staggering 120% year-over-year. This massive growth has many wondering about the underlying reasons behind it. Below, we’ll take a deep dive into some of the factors that can drive such impressive growth in TVL.
One of the main reasons for the significant increase in SHIB’s TVL may be the ongoing liquidity crisis facing the token. As liquidity remains a key aspect of any cryptocurrency’s success, offering a high Annual Percentage Rate (APR) is an effective way to attract more liquidity providers, which helps to address this issue.
source: De Philama
By attracting users with 120% APR, SHIB can bring more funds to its ecosystem and stabilize the liquidity of the token.
Another factor that could lead to an increase in SHIB’s TVL is the recent break below the key $0.000009 level. This sudden move triggered massive position liquidations and canceled many open liquidity provider (LP) positions.
As investors look to minimize potential losses, the high APR offered by SHIB is an attractive opportunity to recover some of those losses while providing liquidity to the platform.
Additionally, the current market dynamics and investor sentiment surrounding memecoins is also driving SHIB’s TVL to some extent. As more retail investors enter the market for the potential rewards of attractive token memes, they will focus on the high APR proposed by SHIB, thus boosting TVL.
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According to Kyptos