Shiba Inu (SHIB), the meme-based cryptocurrency capturing headlines in recent months, continues to make waves with its latest developments.
In one of the latest developments, BitPay, a leading crypto payment processor, has announced that customers can now buy gold with the cryptocurrencies it supports, including $SHIB. The move is part of BitPay’s effort to expand the use of cryptocurrencies beyond speculation and store of value. The most popular precious metals, including gold, silver, platinum, and palladium, can be purchased from various dealers, such as APMEX, Bullion Exchanges, and JM Bullion.
In other news, Shibarium, the layer-2 network solution for the Shiba Inu ecosystem, has made impressive strides during its beta-testing phase. Puppynet, the network’s beta version, has surpassed the 14 million wallet threshold just four weeks after the developers relaunched it with an updated Chain ID. According to data from BlockScout, the designated block explorer for Puppynet, the Shibarium beta network now boasts a total of 14,061,589 wallets, with 4,618,856 transactions and 497,068 blocks processed. These metrics suggest considerable testing is being conducted on the Shibarium beta network, which bodes well for its potential launch.
Finally, $SHIB has become increasingly popular in India, as the asset was the most traded on CoinSwitch, one of India’s favorite cryptocurrency trading apps, from April 15 to 20, 2023.
The disclosure underscores the tremendous interest in $SHIB among investors in India, where the asset has become a go-to investment choice for many crypto investors. According to CoinSwitch, the top five traded crypto assets on its platform during the period were $SHIB, $BTC, $DOGE, $LRC, and $ETH.