A new Shiba Inu and Bone pair is now available for trading on the Singapore-based crypto exchange Crypto.com. The exchange, founded in 2016, is among the leading digital asset platforms, that has over 80 million users spanning 90 nations around the world. The newest addition comes after the trading firm listed BONE, ShibaSwap’s governance token, a month ago.
The move drew significant attention since the SHIB’s development team was getting ready to introduce a beta version of its scaling solution, called Shibarium at the time. It is noteworthy to mention that Crypto.com is currently among the top 10 largest holders of the Shiba Inu Governance token.
As per data from the blockchain explorer and analytics platform, Etherscan.io., Crypto.com’s BONE wallet recorded substantial growth. From March 2, the wallet has amassed more than 2 million BONE tokens worth roughly $2.66 million. The exchange follows another Singapore-based exchange, MEXC Global, in the BONE holders ranking.
BONE is crucial to the entire ShibaSwap environment since it enables the Shiba Inu community to vote on incoming suggestions. The more tokens a user has, the more influence their vote will have on upcoming decisions. At present, the token’s total supply stands at 250 million and its configuration places it exactly halfway between the previous two tokens in terms of supply for circulation. Being ShibaSwap’s governance token, BONE is essential to the development and success of the platform.
Moreover, the Shibarium team has said that every transaction would burn SHIB tokens and mandate BONE to cover transaction costs, helping boost both tokens.
Shiba Inu’s BONE Multiple Listing
To prevent disappointment and delays, the project’s primary developer, Shytoshi Kusama, has been mum on the dates for the mainnet debut or how long the beta will be available. Nonetheless, Shiba Inu’s BONE has secured several high-profile listings and has recently gained a listing in the Poloniex exchange which is backed by TRON’s Justin Sun.
Apart from that, the token has landed on several top exchanges, such as Gate.io, Huobi, and Bitget. BONE also expanded its footprint in NovaDAX, a Brazilian cryptocurrency asset exchange. However, the new listing has not made any significant impact on the token’s price and is currently languishing at $1.08, down by over 3% in the past 24 hours.