Two months after Binance faced the biggest settlement in crypto history, the exchange’s market share has begun to recover. Along with this impressive trend, the price of Binance Coin (BNB), one of the top altcoins, has also been on a recovery path.
In other exciting news, Shiba Inu (SHIB) has unveiled plans to expand its Shibarium network. In addition, KangaMoon (KANG) has seen a surge in interest as it pushes to transform the meme coin space. Continue reading to learn more about these exciting developments.
Binance Coin (BNB) Recovers As Exchange Share Rises
In November 2023, Binance paid $4 billion in settlement to U.S. regulators for breaching financial laws. As a result, Binance’s exchange market share plunged to about 37%. This also resulted in the price of Binance Coin (BNB) dropping in value.
Two months down the line, the market share of the exchange has increased back to 49%, according to Kaiko. The increasing market share appears to be happening as the price of Binance Coin increased.
BNB has also managed to increase above the $300 level. If the bullish trends continue, Binance Coin could look to rally above $320 and $350 in the coming weeks.
Shiba Inu (SHIB) To Expand Shibarium Market Reach
The Shiba Inu (SHIB) community welcomed the layer 2 network, Shibarium, in mid-2023. Although the network has recorded significant milestones, the team behind the memecoin has outlined plans to expand its reach.
LucieSHIB, one of the team members, has announced that the project aims to onboard thousands of projects to the network. She also noted that the team is working towards securing more partnerships. These efforts are aimed at making SHIB one of the top memecoins once again.
KangaMoon (KANG) Sets Out To Transform the Meme Coin Space
While Binance Coin builds momentum, KangaMoon (KANG) has captured the attention of the crypto market with its unique community-driven approach. KangaMoon has integrated an exciting social-fi platform into its ecosystem as it aspired to take on memecoins like Shiba Inu and Dogecoin.
These projects are driven by community support and activity. However, KangaMoon is allowing these memecoin enthusiasts to monetize their participation. The more a user engages in the KangaMoon ecosystem, the greater their rewards are promised to be.
KangaMoon also spots an improved tokenomics model over SHIB, DOGE, and PEPE. While Dogecoin has an infinite supply and Shiba Inu has more than 589 trillion, only 1 billion KANG tokens will ever exist. The team has created a deflationary strategy, which allows KANG to gain value over time, a feature that many other meme coins lack.
The team has also announced that it will add other projects as its community grows. These include blockchain games, NFT collections, a marketplace, and a metaverse platform.
To discover more about the Kangamoon (KANG) presale, check the links below:
Join Kangamoon Telegram Community: https://t.me/Kangamoonofficial
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