In a recent post, @jds_updates, the creator of the PawZone NFT marketplace on Shibarium, shared his thoughts on the potential impact of a Bitcoin spot ETF on PawZone and Shiba Inu following its establishment. He also made a suggestion that other cryptocurrencies may introduce their own exchange-traded funds in the wake of Bitcoin ETFs.
His tweet suggests that he thinks the introduction of a Bitcoin spot ETF would be beneficial for native PawZone and Shiba Inu coins.
Influx of money expected into Bitcoin, and perhaps – SHIB and PAW ETFs?
SHIB and PAW are only getting started, according to @jds_updates, “as the overall crypto market experiences one of the biggest catalysts of all time.” Regarding the much-awaited debut of the Bitcoin spot ETF, he discussed his ideas and stated that an ETF allows large amounts of money to flow into it and the underlying assets. Thus, he anticipates that there will be a competition to obtain all of the Bitcoin that is still easily accessible on the market.
Intriguingly, the founder of PAW went on to say that he thinks the first Bitcoin exchange-traded fund (ETF) will open doors for other cryptocurrencies to get their own ETFs, and that the market is currently experiencing “a once in a lifetime opportunity,” seemingly implying that PAW- and Shiba Inu-based ETFs may be introduced in the future.
https://x.com/jds_updates/status/1738948721050886399?s=20
New epoch in SHIB burns coming soon
An major impending update was hinted at earlier today by Lucie, an official member of the Shiba Inu team and its social media representative. SHIB burns will switch from manual to automatic mode. According to Lucie, it will enable the group to reduce, if not completely remove, the pressure on the BONE token on Shibarium in relation to SHIB burns.
The SHIB team moved three portions totaling over 8.5 billion SHIB to a stale blockchain address in December. There was another comparable blaze in late November. Thanks to BONE transaction fees, the SHIB team has burnt over 33 billion Shiba Inu coins to date.
According to Shibburn data, the SHIB community has taken 53,129,180 SHIB out of circulation in the previous 24 hours, increasing the burn rate by more than 5,000%.
