Memecoins emerge as trending cryptocurrencies in the distributed ledger ecosystem, and Shiba Inu is among the digital currencies that have grown as a result of hype. The crypto project is also one of the largest DeFi projects by market cap.
Nevertheless, the memecoin dipped below its forecasted price levels, and investors looking for capital gains on crypto investments have found a hidden gem called BinoFi that is still in its first development phases.
The project has gained traction among digital currency enthusiasts who have so far bought more than 20 million tokens in its ongoing ICO.
Why is Shiba Inu’s Price Falling?
Memecoins are primarily driven by hype which then begin to dwindle after the hype dies down. Shiba Inu is one such project, as it was a result of social media hype. The memecoin became popular due to its dog signature adopted from Dogecoin. The project managed to grow as Ryoshi sent 50% to Ethereum co-founder Vitalik Buterin as a marketing stunt, but recently Shiba Inu, alongside the memecoin sector, has plummeted significantly in the last few days.
According to data from CoinMarketCap, the memecoin is down nearly 10% in the last seven days and has barely remained unchanged in the last 24 hours.
BinoFi’s Mechanism Proves Sustainability of the project
Institutional investors conduct thorough and deep research into a project, including the platform’s mechanisms that will enhance future sustainability. BinoFi is a new blockchain platform that seeks to rectify traditional methods by amalgamating key features from DEXs and CEXs. The hybrid project will ensure transparency and efficiency for users who join the ecosystem.
The decentralized arena faces an interoperability challenge due to the rising number of blockchain networks. The rise of these solutions within the community leads to liquidity silos.
BinoFi solves the issue with a new cross-chain trading mechanism that enables participants to transfer their assets to distinct blockchain networks without the need for bridges. Bridges are considered attractive sites for black hat hackers who may exploit them to gain access to users’ funds.Â
.BinoFi is a new digital currency platform that has proof-of-reserves evicting insolvency. The exchange reserves are disclosed on-chain in real-time through Merkle Tree Proofs.
The participants can confirm that their funds are wholly backed in real-time. Auditors have also performed some checks and audits on the platform to verify that the project conforms to the financial transparency standards.
The new virtual currency exchange contains smart order routing and AI-enhanced trading models that make trading easy. The Smart Order Routing feature routes trades to the best CEX or DEX liquidity pools reducing price slippage and latency for institutional traders. The sophisticated AI trading models find new trends and on-chain activity to optimize order execution strategy.
The new hybrid platform showcases its mechanism compared to Shiba Inu. The mechanism enhances future sustainability and will promote the development of blockchain technology. The project has managed to capture users in the crypto arena with a fair price of its native token, which presales at $0.02.Â
Website: https://binofi.com
Whitepaper: https://whitepaper.binofi.com
Giveaway: https://giveaway.binofi.comÂ
Telegram: https://t.me/binofilabs
Twitter: https://x.com/BinoficomÂ
CoinMarketCap: https://coinmarketcap.com/currencies/binofi/
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