u.today
Binance.US, a subsidiary of crypto trading behemoth Binance, has announced that it will delist Kilo Shiba Inu (KSHIB) and list Shiba Inu ($SHIB) against the U.S. Dollar (USD) on Feb. 24 at 7:00 a.m. EST.
The KSHIB/USD trading pair will be removed, and all pending KSHIB spot trade orders will be canceled on Feb. 20 at 10:00 p.m. EST. Customers currently holding KSHIB will receive converted $SHIB distributions at a ratio of 1 KSHIB to 1,000 $SHIB by Feb. 24.
The $SHIB/$USDT trading pair will remain available during this transition. Binance.US has also listed KSHIB and added the KSHIB/USD trading pair, which joins the existing $SHIB/$USDT and $SHIB/BUSD pairs.
Kilo Shiba Inu (KSHIB) is a metric prefix of Shiba Inu ($SHIB) and is equivalent to 1,000 $SHIB tokens. By removing a few decimal places from $SHIB, KSHIB allows customers to more conveniently trade $SHIB for USD via the KSHIB/USD trading pair, once customers have converted their $SHIB to KSHIB. Customers can freely convert their KSHIB tokens to $SHIB or vice versa, with zero fees.
To trade KSHIB for USD, customers were supposed to first convert their $SHIB to KSHIB first. Deposits and withdrawals are only enabled for $SHIB, so customers must first convert their KSHIB to $SHIB before withdrawing funds. Similarly, customers must deposit $SHIB to their Binance.US wallet before converting their $SHIB to KSHIB.
Binance.US's decision to delist KSHIB and replace it with $SHIB/USD is expected to provide an improved trading experience for its customers.
Shiba Inu ($SHIB) is currently the 16th biggest cryptocurrency by market capitalization, according to CoinMarketCap.
As reported by U.Today, Binance also delisted $SHIB/GBP due to a lack of liquidity.