Shiba Inu (SHIB) Ecosystem Altcoin Adds New Crypto Exchange, Outperforms Bitcoin and Ethereum

A key altcoin in the Shiba Inu (SHIB) ecosystem is coming to a crypto exchange backed by Tron (TRX) founder Justin Sun.

In a new release, crypto exchange Poloniex says it’s listing Shiba BoneSwap (BONE), the digital asset that will be used to pay for the gas fees of Shibarium, Shiba Inu’s highly anticipated upcoming Ethereum-based (ETH) layer-2 scaling solution.

“BONE wallets will open on March 9, 2023 at 10:00 UTC and full trading will be enabled on March 9, 2023 at 11:00 UTC…

BONE is a governance token of Shibaswap ecosystem which will allow the Shib Army to vote on upcoming proposals. The more BONE the user holds, the more weight their vote carries in these future endeavors. BONE has 250,000,000 tokens, and is designed to fit perfectly between the previous two tokens in regards to circulation supply.”

BONE is also the virtual asset used to operate ShibaSwap, the decentralized exchange (DEX) of the Shiba Inu ecosystem.

Previously, crypto exchange platforms Gate.io and Bitget announced they would be listing BONE while the Shiba Inu community launched a petition to get Binance, the world’s largest digital asset exchange by volume, to support the crypto asset as well.

Though Binance has not responded to the request, it staked four trillion SHIB tokens last month, worth about $35 million at the time, after BONE was announced as Shibarium’s utility asset.

BONE is trading for $1.75 at time of writing, a 27% increase from its seven-day low of $1.37, vastly outperforming Bitcoin (BTC) and ETH, which are currently moving for $21,612 and $1,533 respectively, both sharp declines from their weekly and monthly highs.

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Featured Image: Shutterstock/klyaksun/WindAwake