It has just been announced that the world’s second largest cryptocurrency exchange OKX will delist LEASH, a token from the Shiba Inu ecosystem. Along with SHIB and BONE, the token is one of the key elements of the popular meme-inspired cryptocurrency space.
For those who may not know, LEASH was launched in 2021 by the anonymous Shiba Inu creator Ryoshi. From the beginning, it was stated that the token would be used to purchase land in the metaverse project built around the memecoin. In addition, LEASH was also used for the pre-sale of the Shiboshi NFT series centered around the Shiba Inu.
However, all these factors were irrelevant to the OKX team, who decided to remove the Shiba Inu token from its platform.
LEASH was ordered to be delisted along with five other cryptocurrencies whose names will be remembered by those who entered the market many years ago. The reason for the delisting was to maintain a strong spot trading environment and get rid of assets that did not meet the listing standards.
No more LEASH?
According to CoinMarketCap, the exchange is the most liquid market for LEASH, accounting for 24.78% of the token’s total trading volume.
However, to put the amount into perspective, it’s only around $576,000 – a very small amount for the cryptocurrency market, especially for a token listed on the platform with the second-largest holdings of the cryptocurrency.
It seems logical that as the metaverse and the NFT sector of the crypto market develop, the assets associated with it and their corresponding utility will be forgotten and delisted. Shiba Inu has not made much progress on its metaverse project, and has focused more on Shibarium. Therefore, it is not surprising that LEASH has a bad reputation, as its prospects are, to put it mildly, very unclear.
The article is for reference only and does not constitute investment advice.
