Crucially, Shiba Inu and EverGrow Coin make passive income generation much easier than before. While crypto passive income is not a new phenomenon, it can be complex or time-consuming for inexperienced investors to take advantage of.
This is where the new Shiba Inu burn portal ShibaSwap and EverGrow Coin have made a name for themselves.
EverGrow Coin is a hyper-deflationary token with BUSD reflections. To date, the project has paid $36.5 million in the Binance USD stablecoin to investors, according to the EverGrow Coin dashboard.
EverGrow Coin charges a 14% transaction tax on buy/sell orders, with 8% of the 14% tax instantly paid out as reflections to investors. While there are many reflection tokens in crypto EverGrow Coin has established itself as the top token paying stablecoin rewards, in BUSD.
The amount EverGrow Coin investors receive depends on the size of their holding, and the trading volume of EGC. With recent daily trading hitting over $3 million a day this means a total of around $240,000 daily rewarded to EverGrow Coin holders.
The EverGrow Coin team will soon drop an NFT marketplace LunaSky, as well as the Crator content subscription platform and integration with The Abstract metaverse. Each of these is designed to increase trading volume and more passive income for investors.
BUSD reflections are deposited into your crypto wallet automatically.
Shiba Inu coin burning has been identified as an important mechanism to boost the Shiba Inu price long term. It was a major coin burn of 42% of the total Shiba Inu supply that saw prices first reach $0.00003503 in May last year from $0.000000000168 at the beginning of 2021.
The new Shiba Inu burn portal ShibaSwap has seen 23 billion SHIB tokens burned in a few weeks of operation. The SHIB burnt has a value of $493,000 in US dollars, at current Shiba Inu prices.
By using the ShibaSwap portal, SHIB holders can burn their Shiba Inu to remove it permanently from supply. In return, they receive burntSHIB tokens which earn the RYOSHI tokens. The current APR of burntSHIB is 16%, allowing for passive income generation by burning Shiba Inu tokens.
The current Shiba Inu price is $0.00002079.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.