The meme-inspired cryptocurrency Shiba Inu ($SHIB), the native token of smart contract platform Cardano ($ADA), and that of the ‘blockchain of blockchains’ Polkadot ($DOT) can now be used as payment method at a popular Dubai University, along with several other digital assets.
According to a recently published announcement, prospective and current students at Canadian University Dubai (CUD) can now use Binance Pay to pay for tuition fees, which means they can use Binance’s cryptocurrency-focused payments solution, which supports over 70 digital assets.
These digital assets include blue-chip ones like $BTC and $ETH, but also meme coins like $SHIB and $DOGE, as well as $ADA, $DOT, $BCH, $AVA, $LTC, $MATIC, and more.
The university, it’s worth noting, is among the top-ranked ones in Dubai. In November of last year, Binance added the meme-inspired cryptocurrency #SHIB to Binance Pay, at the same time it added a number of other assets including PancakeSwap’s $CAKE, football fan token $PORTO, and Tether’s $USDT.
As CryptoGlobe reported, both Cardano and Shiba Inu have seen the number of large whale transactions on their networks surge, in a move that has been “historically associated with price shifts.” These cryptocurrency networks have seen “big spikes in large whale transactions,” with transactions over $100,000 spiking to highs last seen months ago for all three digital assets.
These large whale transactions are occurring amid a wider cryptocurrency market recovery, with the flagship cryptocurrency Bitcoin ($BTC) seeing its best January in a decade after rising over 40% in just a month.
Notably, the total value locked on Cardano’s decentralized finance space has more than doubled so far this year, to the point there are now over $100 million worth of $ADA locked on DeFi protocols on the network.
The total value locked on the Cardano network started 2023 at around $49 million, and has since surged to now be close to the $104 million mark. The rise can be partly attributed to Cardano’s price appreciation, as the cryptocurrency moved from around $0.25 at the beginning of the year to roughly $0.39 at the time of writing.
As for Shiba Inu, the cryptocurrency has been seeing heavy accumulation among Ethereum ($ETH) whales, with the 5,000 largest now holdings a massive number of SHIB tokens, valued at $708,456,318. This impressive figure places SHIB as the largest non-ETH holding among Ethereum whales.
Featured Image via Pixabay
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