SHIB Burn Rate Soars by 137,000 Percent Following Community Intervention
The SHIB burn rate has skyrocketed by an astonishing 137,000%, with over 105 million tokens being removed from circulation. This surge is attributed to the upcoming Shibarium upgrade that will convert 70% of transaction fees into SHIB and reduce its supply. According to a tweet from Shibburn, a tracker for SHIB burns, the daily burn rate saw this massive increase with exactly 105,981,775 tokens burned.
In addition to these developments, the community has submitted a petition urging Binance to burn one percent of all daily SHIB transactions. As of now, the petition has garnered 1,342 signatures out of its goal of 1,500. Despite some fluctuations in price—currently trading at around $0.00001406—the overall market cap remains just under $8.3 billion.
Venezuelans Locked Out From Binance: How Safe Are Your Funds?
Binance users in Venezuela are currently facing access restrictions due to increasing internet controls within the country. The company confirmed these issues via social media platform X (formerly Twitter), assuring users that their funds remain safe thanks to SAFU—a fund established in 2018 designed to protect assets during extreme situations like hacks or insolvencies.
This incident highlights broader trends towards tighter internet regulations affecting various websites and social media platforms across Venezuela. While some users report continued access through private ISPs and mobile networks other than CANTV—the state-owned telecommunications provider—Binance is actively working on resolving these accessibility challenges while ensuring user asset security remains paramount.
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