BONE, the central token of Shiba Inu’s layer 2 solution has gained a listing on the Huobi exchange. The trading firm is set to list BONE on April 25, with deposits opening from 06:30 UTC onwards.
As soon as the deposit volume matches market demand, the BONE/USDT spot trading pair will begin trading. Additionally, beginning on April 26 at 08:00 UTC, users can withdraw their BONE tokens, the announcement read.
Shortly after the news, BONE surged by roughly 9%, only to retrace back, and is currently trading at $1.06.
In February, rumors that Huobi might list the token began to circulate. The Seychelles-based trading platform later confirmed these rumors in a post.
Just recently, the Shibarium token was listed on OKX after winning the popular vote in a survey conducted by the top platform. The exchange stated that spot trading for BONE will open on April 25, 6:00 a.m. [UTC].
Prior to the listing, the Seychelles-based cryptocurrency exchange announced it would start a meme coin deposit and listing activity.
It encouraged the cryptocurrency community to vote on their favorite option from a list of meme coins, which included AIDOGE, BONE, BONK, TSUKA, PEPE, OPTI, and QUACK.
The poll’s winners, AIDOGE and BONE, will be made available on the site on April 25.
Shiba Inu’s BONE also secured a listing in the Poloniex exchange which is backed by TRON’s Justin Sun in March.
Shiba Inu’s BONE Multi-Use Cases
The high-profile listings of BONE token coincide with the impending debut of Shibarium, a layer-two scaling protocol developed by Shiba Inu that will form the framework of the ShibaSwap ecosystem.
BONE serves as a utility token as well as a governance token. According to information provided by CoinMarketCap, there is currently 167,333,842 BONE in circulation out of a total token supply of 230,000,000.
The primary function of BONE for Shibarium, whose beta launch is anticipated soon, will be that of “gas,” enabling users to carry out transactions and employ smart contracts on the Layer-2 protocol.
BONE, in addition to serving as the governance token, will let the ShibArmy vote on subsequent proposals. Delegators and validators would both receive rewards from it.
