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Benzinga
Benzinga
Business
Adrian Zmudzinski

EXPLAINED: Major ethereum whale buys 50b shib as burns continue to decrease supply | Vintage Vibes

One of Ethereum's (CRYPTO: ETH) most valuable wallets just added 50 billion Shiba Inu (CRYPTO: SHIB) to its already hefty reserves of the token as burn mechanisms continue decreasing the coin's supply.

What Happened: Transaction data shared by large transaction tracking service WhaleStats show that the 13th most valuable Ethereum wallet known as "Juraiya" acquired nearly 50 billion SHIB on Monday — worth nearly $1.1 million as of press time.

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