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Shiba Inu Enters Metaverse With 'Shiba Lands,' LEASH Rockets 40%
The price of Leash, a Shiba Inu ecosystem token, was up nearly 50% following the announcement.
Updated May 11, 2023, 5:28 p.m. Published Feb 9, 2022, 8:25 a.m.
Developers behind popular meme coin Shiba Inu said the protocol would soon offer plots of virtual lands in an upcoming, yet-unnamed metaverse, causing the prices of ecosystem tokens like SHIB and LEASH to jump as much as 40%.
Metaverses generally describe a virtual world in which people can interact as they do in the real world, but digitally. The concept has gained steam in recent years, with metaverse tokens like Decentraland's MANA and Axie Infinity's AXS worth billions of dollars.
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“The Metaverse is set to be one of the biggest areas within crypto for many to enjoy…using it as another great resource to offer crypto communities incentivization, content, and regular royalties,” Shiba Inu developers said in a blog post.
New Blog: A METAVERSE Story that begins... with an update!
— Shib (@Shibtoken) February 8, 2022
🏡 Introducing Lands, a queue system, and more!
🦮 $LEASH holders will be the first to gain access to Shiba Inu Metaverse Lands.
Read more... https://t.co/S758ClAbRC
The so-called “Shiba Lands” would be found inside the upcoming Shiba Inu metaverse and will be available for purchase or auction using LEASH tokens.
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Developers said they are working on a "queue system" designed for the Shiba Lands sales event. Participants earn a place in the queue based on the amount of LEASH they hold. Such a system would prevent opportunistic bots from snapping up land early at low prices to sell them at a higher price to the community.
Prices of LEASH tokens were up nearly 46% in the past 24 hours, data from analytics tool CoinGecko show. SHIB has a supply of 1 quadrillion tokens, with half locked away, while LEASH has only 107,647 minted tokens.
Meanwhile, SHIB fell 8% in the past 24 hours after rising nearly 40% on Monday and Tuesday. The token was trading at about $0.000033 at press time.
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
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Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
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