Shiba Inu (SHIB) has seen its burn rate increase by over 10,990% in the past 24 hours, with 21,435,658 SHIB tokens removed from circulation. The goal is to reduce the supply to increase value. However, the SHIB community is being warned about scams related to new projects on ShibaSwap DEX.
Justin Sun has made a new move with the large amount of ETH they are holding.
10 hours ago, they used 18k $ETH ($67M) to swap for LRT PT on Pendle:
- 10k ETH exchanged for 10k PT-weETH - 5k ETH exchanged for 5k PT-pufETH - 3k ETH exchanged for 3k PT-rsETH
This move indicates that they aim to optimize profits while holding a large amount of $ETH , and most of the remaining $ETH in the wallet is also being staked by J. Sun on other platforms.
The maturity date is on June 27, 2024, with a fixed interest rate of around 17-21%. The estimated profit by the maturity date could be about 220 $ETH .