In a Tweet on Monday, May 10th, BlockRoots CEO, and popular digital asset market operator/analyst, Josh Rager, complemented crypto exchange Binance on the platform’s move to list meme, token Shiba Inu. He pointed out not having to pay – currently exorbitant – Ethereum GAS fees, per transaction, on Defi platform, Uniswap – highlighting Ethereum’s scaling issues, as network usage continues to balloon.
Cryptocurrency trading and investment education firm, Blockroots‘ CEO, Josh Rager, published a Twitter post on Monday, in which he expressed his relief at no longer having to pay exaggerated GAS fees in order to trade Dogecoin Killer, Shiba Inu ($SHIB) on Ethereum-based Defi token King Maker platform Uniswap.
https://twitter.com/Rager/status/1391747288368762884
The $SHIB token, which experienced a +300% price rally over the past weekend on the back of back-to-back exchange listings, is down 35% on the day (at time of writing,) due to Vitalik Buterin dumbing $SHIB tokens on Unisap earlier today. Prices seem to be, however, likely indicating continued bullish sentiment towards the token, with Uniswap users buying up the newly available supply of $SHIB.
Beyond’s it’s value potential, the token’s listing on Binance may have helped Rager, jestingly, drive home a point. The fact that the Ethereum Network – in its current iteration – isn’t ready for mass adoption. The high GAS fees, mentioned by Rager in his tweet, point to the fact that the Ethereum Network – due to the proliferation of Defi and NFT platforms utilizing the financial internet platform’s infrastructure – has gone “Field of Dreams“, but cannot sustain the masses that have come.
