Whenever there is a listing of any crypto coin or token on any crypto derivative and trading platform, it comes as a positive sign for its adoption and trading price
Popular meme cryptocurrency Shiba Inu community might have received it as a joyful instance when a major crypto derivatives trading platform BTCEX announced that it was going to list BONE tokens on its platform. While announcing BONE’s listing, it was also going to be deposited and traded for the BONE/USDT pair on 8th June.
Ontario-based BTCEX offers spot and derivative trading services that include leveraged spots. It also claims to be the first derivatives exchange in the world to offer options settled with USDT and a combined margin. BONE is treated as the governance token of the decentralized exchange ShibaSwap ecosystem. The token allows the community of Shiba Inu to vote on further upcoming proposals on the platform.
Primarily the Shiba Inu ecosystem contains three following tokens, including Shiba Inu (SHIB), Bone ShibaSwap (BONE), and Doge Killer (LEASH).
Earlier this week itself, the largest crypto exchange in Europe, Bitstamp, announced its listing of Shiba Inu native token SHIB. After which, it would enable users to trade the popular meme currency toke SHIB against US dollar and Euro, after the feature that the trading platform had enabled to transfer.
Reflection of listing news on the Shiba Inu ecosystem’s token on an exchange on cryptocurrency’s price was quite obvious. On 7th June, Shiba Inu rebounded after testing the support of $0.0000102. At the time of writing, the trading price of the Shiba Inu token is around $0.0000107, following its continued trading sideways.
As per several data aggregators, Shiba Inu whales have seen consistently accumulating, considering the holding of about $639,396,013 worth of SHIB has been held by the top 1,000 Ethereum (ETH) whales. Additionally, the Shiba Inu ecosystem has gained holders since this month’s start. The total SHIB holders account for 1,176,806 holders, which is way more than its count of 1,139,916 in April. The steady growth that Shiba Inu is experiencing currently could result in far better results for the meme currency in upcoming times.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.