A gas token for the upcoming Shibarium Layer-2 blockchain, BONE, was listed on the Gate.io exchange. Immediately after that, the asset began to grow and rose from $1.8673 to a peak of $2.0457, gaining 9.55%. Such a jump helped the asset get into the top 100 in terms of market capitalization. We’ll discuss below whether this will boost the listing on other platforms.
What is BONE and what are the project’s goals?
BONE is the governance token for the ShibaSwap decentralized exchange and the gas token for the upcoming Shibarium Layer-2 blockchain. With it, the ShibArmy is able to vote on proposals. The more tokens the user has, the more weight their vote carries in these endeavors.
The BONE token was created by Shibarium developers and released at the same time that ShibaSwap launched in July 2021. Currently, BONE, SHIB, and LEASH come together to create ShibaSwap, which, according to the plan, should become “the next evolution in DeFi platforms.”
“The goal is much bigger than you imagine. Our goal is for the entire crypto community to agree that they need BONE. Our goal is to attract millions of people to invest in BONE,” the token’s developers said.
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Attention! #layer2 #binance #blockchain
The goal is much bigger than you imagine
Our goal is for the entire #crypto community to agree that they need $bone
Our goal is to attract millions of people to invest in #bone#Shibarium will create this potential pic.twitter.com/LSIzmYDsaj
— BoneShibaSwap (@BoneShiba) February 21, 2023
As they also said, Shibarium will create this potential. According to the plan, Shibarium aims to improve the Shiba Inu ecosystem by providing scalability, faster transactions at a lower cost, and lower fees. Some sources say that the Shibarium team is currently preparing for the beta release.
I told you that #Shibarium BETA is inevitable, it’s a matter of time, I support Shytoshi$SHIB $BONE #SHIBARMY pic.twitter.com/B6h2WQXSSK
— Shib Spain (@ShibSpain) February 14, 2023
BONEfire: listing on the Gate.io and top-100 by market cap
The upcoming listing, which was announced at Gate.io, allowed Bone to stay on track even as Bitcoin fell below $24K. The sudden fall came due to the crash on Wall Street. The three most popular US stock market indexes all closed in the minus. The S&P 500 and the Dow Jones fell by 2% in 24 hours, while the Nasdaq Composite fell by more than 3%.
Thus, SHIBARMY could hold the BONE price at $1.9. Crypto enthusiast Sagnik suggests that the creator of Shiba Inu, known on the internet as Shytoshi Kusama, may now be waiting for the bull run “to ride the tide and push it even further.”
$Bone is doing extremely good even when #BTC has gone below $24k! Hats Off to #SHIBARMY for holding the price at $1.9 @ShytoshiKusama I hope u r waiting for the start of the Bull run to ride the tide & push it even further…
I’ll personally not ask “WEN SHIBARIUM”… pic.twitter.com/UhrhM9bWv5
— Sagnik (@Sagnik_85) February 23, 2023
Market data shows that the token’s market cap rose 1,33% in the last 24 hours. Over the past three days, the figure has increased by 20,22%, from $387.3M to $465.6M, placing the asset in the top 100 by market capitalization.
Current BONE price and where to buy the token
At the time of writing, the asset is trading at $1.96, up 1,98% from the day before.
- Bone ShibaSwap
- Price $0.792
- Market Cap
The token’s historical price high came on November 3, 2021, which was triggered by the general growth of the cryptocurrency market. At that time, the asset was trading at $3.2345. So, if you had bought BONE at the time of its release, you would have earned 3,1 more at the peak. And if you had held on until now, your investment would have fallen 1,8 times.
As for buying BONE, there are 14 other exchanges besides Gate.io, where the asset was recently added for trading, according to CoinGecko. Among them: ShibaSwap, BTCEX, MEXC Global, Uniswap, BitMart, Bitget, BKEX, BingX, BIT, CoinEx, Biconomy, DigFinex, Hotbit, and Kanga.
The cheapest BONE token you can buy on the Hotbit exchange is paired with USDT for $1.37. However, over the past 24 hours, market participants traded the asset the most on the MEXC Global platform, also paired with Tether’s Stablecoin. Trading volume was $6,542,577. On that exchange, BONE is worth $1.95.
As for Gate.io, only $278,755 worth of BONE has been bought and sold since its launch. On the exchange, the token is traded in pairs with USDT and costs $1.96.
https://t.co/8kWqgEeplL New Listing: $BONE @Shibtoken
Trading Pair: $BONE / $USDT
Trading Starts: 04:00 AM, Feb 24 (UTC)
Details: https://t.co/gwCjlxKH9z #Gateio #Newlisting #BONE pic.twitter.com/h7rI8J3xxY
— Gate.io (@gate_io) February 24, 2023
Will there be another listing of BONE and where?
Being in the top 100 by market capitalization does not guarantee a listing, but it does not exclude it either. The launch of Shibarium may increase the chance that this event will occur. And though it is not clear yet when exactly this will happen, users in the network are already speculating and urging exchanges to pay attention to BONE.
For example, crypto and NFT creator Lucie urges the Coinbase exchange to list BONE to support upcoming bridge to Shibarium.
L2 is the way!!!
So we kindly ask you to go by your own words and list $BONE to support the upcoming BRIDGE to @ShibariumNet L2 #SHIBARMY
Support each other- is the Web3 way, what do you think @brian_armstrong pic.twitter.com/fAvn2pddRI
— 𝐋𝐮𝐜𝐢𝐞 (@LucieSHIB) February 23, 2023
A member of the Shiba Inu ecosystem team named Lady Crypto tried to draw the attention of the Crypto.com exchange.
ROUND 3! + If you’d like @cryptocom to list $BONE!
Let’s Go #SHIBARMY!
Maybe @cryptocomcs will see this time around! pic.twitter.com/AUBFcdFQgQ
— 𝐋𝖆𝖉𝖞 𝐂𝖗𝖞𝖕𝖙𝖔 (@ShibArmy_4Life) February 23, 2023
SHIBARMY participant Devraj Paul made a post with an appeal to Huobi.
Day 66 :- @HuobiGlobal Please List $BONE
when #Bone #HuobiGlobal
Out of the world’s largest 10 exchanges, 2 exchanges have been listed on $BONE,in which #Gateio & #Bitget.
What about You @HuobiGlobal ?
Please List #Bone #ShibaArmy #Shibarium #BONE #Huobi pic.twitter.com/wOjFmWQaQN
— Devraj Paul – ShibaArmy (@IndianShibaArmy) February 24, 2023
The BONE token community participants, in turn, apparently believe that their token will be listed on Binance, therefore, they have already run various giveaways to attract the attention of exchanges and users.
#BONE Will Listing on #Binance Swap On pancakeswap claim reward for the first 700 holder
Swap $BONE – Min 0.3 $BNB Get Rewards $150 USDT & 1 $BNB Instantly
Swap #BONE Now:https://t.co/kbdA9WyQjc#BONE pic.twitter.com/KavMh83Vjj
— Bone Shiba Token | $BONE (@BoneShibaToken) February 24, 2023
Which exchange do you think will be the next one to list BONE? Share your answers in the comments.