Riding high on the popularity wave, Shiba Inu’s BONE token has gained a listing on the Singaporean exchange BingX.
According to the social trading platform, BONE was added to its beta version and is available for spot trading from January 18, 2023 [UTC+8]. On the same day, services for deposits and withdrawals were also made available.
The leading exchange boasts over five million users and over 350 different cryptocurrencies are available for users to buy, sell and trade on the cryptocurrency exchange.
It also offers spot, derivatives, copy, and grid trading services to more than 100 nations and regions.
In Dec, the trading firm took the lead and published its Proof-of-Reserve report verified by Mazars, a trusted third-party auditor.
Having said that, BONE has scored listings on several crypto exchanges in recent months paving the way for mass adoption.
Shibarium’s central token has scored another listing on the crypto exchange StealthEX’s mobile trading app, TronWeekly reported earlier.
The announcement came after the platform teased adding the entire SHIB trifecta, consisting of Shiba Inu, BONE, and Leash tokens, to its trading list last Nov.
Following the inclusion, BONE jumped by an impressive 36%+ in less than a week. At the time of writing this article, the token has since mellowed down and is exchanging hands at $1.32.
The unexpected price surge coincided with the excitement surrounding the upcoming release of the Layer 2 Shibarium beta.
Developers of the meme coin, Shiba Inu, are getting ready to introduce Shibarium, a layer-2 scaling solution.
Shibarium To Boost BONE Utility
The layer-2 scaling solution will be useful for Shiba Inu ecosystem tokens SHIB, BONE, and LEASH. Shibarium’s launch information was disclosed by the creators in a recent blog post on January 15.
Shibarium, an Ethereum-based blockchain that will address scalability concerns for the Shiba-Inu-themed coin, will soon join the group of Ethereum-based blockchains like Arbitrum and Optimism.
Blockchains at layer 2 perform the bulk of the processing and reduce bandwidth, which reduces gas costs and processing times for users.
Consequently, the layer-2 scaling method will discover speed and cost advantages, creating a framework for Shibarium.
On the Shibarium protocol, the native token BONE will be used to reimburse gas transactions and reward validators and delegators.