The Shibarium Layer-2 upgrade is launching any day now, and it looks like some big SHIB players are making moves ahead of the launch. According to on-chain data, over $28 million in SHIB tokens have been withdrawn from major crypto exchanges in the just concluded month of July.
Massive Withdrawals Signal Investor Interest in Shibarium
According to data shared on Twitter by crypto analyst Ali Martinez, backed up by on-chain chart data from IntoTheBlock, around 3.30 trillion SHIB were withdrawn from known crypto exchanges in July, the highest SHIB withdrawal rate in recent months. The chart’s data also shows that the circulating supply of the token within exchanges fell from 86.69 trillion to around 83 trillion by the end of the month.
July 19 saw the most significant withdrawal from exchanges, with more than two trillion tokens going into unknown wallets. According to on-chain data from @WhaleAlert, an Ethereum whale transferred 2.4 trillion SHIB tokens worth $18.7 million from Bina
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