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SHIB Now Ranks Top 10 Most Used Smart Contracts on the ETH Network

Cryptocurrency Jun 09, 2022 09:30AM ET
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© Reuters SHIB Now Ranks Top 10 Most Used Smart Contracts on the ETH Network

  • SHIB is now among the most used smart contracts by ETH whales.
  • Number one on the list is ETH, with the largest used share of 28.93%, while USDT and USDC follow with 22.21% and 19.37%, respectively.
  • SHIB is the only token to have appreciated by over 13M% since 2020.

According to WhaleStats, a web app that tracks the activities of large crypto holders, Shiba Inu (SHIB) now ranks top 10 in the most used smart contracts category among 5000 other tokens on the Ethereum Network (ETH).

Number one on the list is ETH, with the largest used share of 28.93%. USDT and USDC, the two most popular stablecoins, follow with 22.21% and 19.37%, respectively.

WhaleStats collects other data, including the most sold, most purchased, and most traded tokens, all of which SHIB appears among the top 10. Each whale traded an average of 3,740,000,000 SHIB tokens, which amounts to $39,719. Likewise, an average of 1,870,000,000 SHIB, which costs $19,850, was sold.

Other tokens on the ETH network which appear in at least one of these categories, include LINK, Mooney, SAND, APE, MATIC, and MANA.

Shiba Inu is a dog breed-themed altcoin that inspired people around the world to invest, albeit in a more speculative manner. It is one of the few meme tokens that rose to prominence within the last two years.

SHIB is the only token to have appreciated by 13M% since 2020, according to CoinMarketCap. It currently sits among the top 16 coins with a market capitalization of nearly $6 billion. This places it behind Avalanche (AVAX) in the 15th position and ahead of Polygon (MATIC) in the 17th position.

SHIB trades at $0.00001071, while its 24 hours trading volume went up by 33%. The crypto community at CoinMarketCap projected that SHIB will have a bullish trend by the end of June. Over 30,200 members of the community have cast their votes.

Continue reading on CoinQuora

SHIB Now Ranks Top 10 Most Used Smart Contracts on the ETH Network
 

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