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- 1 An anonymous investor has made a big investment in Shiba Inu’s BONE exchange.
- 2 This mysterious purchasing of tokens worth $209,000 has intrigued the whole industry.
- 3 While traders are spitballing the reasons, its effect on the ecosystem is yet to be seen.
Shiba Inu’s BONE is a decentralized exchange that offers governance tokens with voting functionality. It allows the Shiba Inu community aka Shib Army to call the shots on many things. They can vote on accessing future NFTs, submitting proposals, and even on upcoming proposals. While it gained attention from the whole community, it recently got a massive investor as well.
Everything to Know About BONE’s Recent Investor
The term “anonymous investor” isn’t as popular as “anonymous donor” as investors don’t usually hide that they own a large chunk of a company or coin. But it happened with Shiba Inu’s Bone (DEX) lately. Etherscan Explorer spilled the beans on this recent development. It aired that an anonymous investor has purchased nearly 259,000 BONE tokens.
Notably, the value of these tokens is $209,000 right now. Moreover, what makes this investment more interesting is that it’s made by an inactive user. The wallet through which the purchase is made has been dormant for a year now. Apparently, this mysterious investor is interested in BONE right now. However, the portfolio suggests that the investor is a big fan of meme tokens.
The total holdings of meme token in this wallet stands at $100,000. The assortment of tokens makes the investor more intriguing for analysts. It should be noted that the investor hasn’t confined their activity to just the Ethereum network. Based on the data of BscScan, the wallet has a presence on the BNB Chain as well. More so since it has a token count that’s worth $12,000.
Despite that, the rationale behind the whale’s BONE investment is unknown. But the speculations are rife and have many versions as always. Some are saying that the investors are just impressed by the innovations of the Shiba Inu team. Recently, it announced that BONE will see some changes in its minting process. It may result in the culmination of the renouncement of the token’s contract.
So far, the BONE price has not reflected any aftermath of this anonymous funding. However, it can certainly show some impact in the future. But while that’s happening, there’s a lot to know about this new exchange. Apparently, many traders don’t have sufficient information on this DEX. Hence, let’s delve deeper into its aspects.
BONE: A Detailed Guide
Like Shiba Inu (SHIB) and Doge Killer (LEASH), BONE is also an Ethereum-based token. Once the token became popular, the Shib community felt the need for its own exchange.
Therefore, they commenced the ShibaSwap exchange on July 7, 2021. BONE functions as the backbone of the ecosystem. To get BONE reward tokens, the SHIB holders have to bring liquidity.
They can stake the tokens and get rewards depending on the amount and duration of the reserve. Besides being a governance token, BONE is also playing one very important role. It’s part of the three tokens ShibaSwap is using to create a multiverse platform. Thus, one can say that the token is indeed instrumental and it certainly validates the big investment.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
