Bybit Reveals Massive Shiba Inu Holdings, Exceeding 2.94 Trillion Coins

Bybit, a cryptocurrency exchange, has revealed it holds 2,943,549,207,720 Shiba Inu (SHIB) tokens, approximately 3 trillion coins. This confirms SHIB's position as a top player in user balances. The snapshot also showed increases in Bitcoin and Ethereum holdings, while USDT balances decreased. The distribution of SHIB reveals that 41% of the supply is in the burn address, and major exchanges hold trillions of tokens. This confirms SHIB's permanence as a line item on exchange balance sheets.

Bybit, one of the world's leading cryptocurrency exchanges, has disclosed that it holds 2,943,549,207,720 Shiba Inu (SHIB) tokens, approximately three trillion coins. This revelation underscores SHIB's significant market presence and user base. The snapshot, part of Bybit's 25th audit series, provides a comprehensive overview of holdings across multiple blockchains, with SHIB towering above the rest [2].

The snapshot also highlighted notable changes in other major cryptocurrencies. Bitcoin holdings climbed 5.61% to 58,954 BTC, while Ethereum rose 6.59% to 604,131 ETH. USDT balances decreased by 4.75% to 4.85 billion, with over 242 million tokens leaving the platform. This data underscores the diverse range of assets held by Bybit, reflecting the exchange's broad user base and strategic asset allocation [2].

The distribution of SHIB tokens reveals a unique narrative. Approximately 41% of the supply is in the burn address, representing over $5 billion removed from circulation. Major exchanges like Coinbase, Binance, Upbit, Robinhood, and Crypto.com hold trillions of tokens on hand, confirming SHIB's permanence as a line item on exchange balance sheets [2].

Bybit's disclosure comes amidst ongoing developments in the SHIB ecosystem. The recent integration of Chainlink, announced by Shiba Inu developer Kaal Dhairya, aims to enhance tokenomics and transparency. The integration focuses on deflation and infrastructure scaling, with no explicit warnings or alerts to users [3]. Additionally, a significant SHIB whale recently transferred $38 million worth of SHIB tokens to self-custody, signaling strategic asset reallocation and potential long-term holding trends [4].

These developments highlight SHIB's resilience and growth potential, despite persistent market volatility. While analysts caution against overreliance on whale activity, the strategic moves by major holders suggest a long-term commitment to the SHIB ecosystem. The market remains cautious but attentive, awaiting further developments that could clarify the significance of these moves [4].

References:
[1] https://cryptofrontnews.com/shiba-inu-developer-addresses-wallet-hack-and-leash-supply-concerns/
[2] https://u.today/bybit-reveals-how-much-shiba-inu-shib-it-owns-talk-about-trillions
[3] https://marketbit.io/shib-ecosystem-updates-growth-focus/
[4] https://www.ainvest.com/news/shib-whale-moves-38m-custody-multi-chain-expansion-plans-2508/