Bone up 10% as exchange adds more Bone.
Singapore-Based Exchange, MEXC Global Loaded Up 333,113 Bone ShibaSwap (BONE) In the Last 24 Hours and Now Holds Whopping 10.33 Million BONE Tokens, Worth $4.75 Million.
The governance token of the Shiba Inu ecosystem, Bone Shibaswap (BONE) surges over 10% as Singapore-based MEXC Global added 333,113 BONE to its wallet in the last 24 hours.
MEXC Global, one of the world’s leading digital asset exchanges has accumulated 333,113 BONE, worth $152,932 as of the current price to its wallet through 23 separate transactions in the past 24 hours, Etherscan.io reports.
MEXC Global’s wallet came into existence on 1st April 2022 (2 months ago).Since then, the leading cryptocurrency exchange accumulated a total of 10,332,014 (10.33M) BONE, worth $4,751,951 ($4.75M). Interestingly, the exchange hasn’t sold even a single token to anyone in two months timeframe.
MEXC Global is the exchange known for its high performance and mega transaction matching technology. It currently serves over 6 million users in more than 70 countries. In 2021, the leading cryptocurrency exchange was awarded the “Best Crypto Exchange Asia” award at the Crypto Expo Dubai.
Reasons Behind Rising Demand For BONE:
The demand for Bone ShibaSwap spiked as rumors about the launch of Shibarium Layer 2 revived.
The rumors revived after Unification $XFUND scheduled its mainnet upgrade to go live on June 8.
Unification is the primary developer of Shibarium, therefore, the Shiba Inu Community speculates that this mainnet upgrade has something to do with the Shibarium Layer-2 launch.
The lead developer of ShibaSwap, Shytoshi Kusama called “Shibarium” – the backbone of all the SHIB projects in development – especially SHI and ShibFE (Shibarium Financial Ecosystem) in his recently posted blog post named “Shibshire Blastaway”. And BONE is reported to be used as a gas token on SHIB layer 2 ‘Shibarium’, therefore, the Shiba Inu Community believes the value of BONE will skyrocket once Shibarium L2 comes into life.
At present, BONE is acting as the governance token of the Shiba Inu ecosystem (Doggy DAO). However, the success of BONE is believed to be directly proportional to the success of ShibaSwap, the native decentralized exchange (DEX) of the Shiba Inu coin project, and its upcoming layer 2 solutions, Shibarium.
Shibarium, the layer 2 solution first proposed by Shiba Inu’s pseudonymous creator Ryoshi, aims to reduce the transaction fees for its users. It is reportedly being designed in such a way that it would offer a scaling and low-cost solution for many projects in the Shiba Inu ecosystem, including SHIB: The Metaverse and the Shiba Inu Games.
Bone ShibaSwap (BONE) Price Surges Over 10% in the Past 24 Hours:
The price of BONE surges 10% over the last day following the aforementioned massive accumulation from MEXC Global. At the time of writing, BONE is trading at the price of $0.4605, with a 24-hour trading volume of $1,987,163 ($1.98M).
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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