Shiba Inu (SHIB) Ecosystem Altcoin Defies Crypto Market Doldrums Amid New Exchange Listings This Week

Shiba Inu (SHIB) Ecosystem Altcoin Defies Crypto Market Doldrums Amid New Exchange Listings This Week

Alt coin
May 1, 2023 by secret
74
A crucial Shiba Inu (SHIB) ecosystem altcoin is defying the sideways crypto market trend this week, surging more than 16% amid a flurry of new exchange listings. The altcoin, Bone ShibaSwap (BONE), is trading at $1.06 at time of writing, up from $0.913 seven days ago. The 165th-ranked crypto asset by market cap will be
shib-amid-new-this.jpg


A crucial Shiba Inu (SHIB) ecosystem altcoin is defying the sideways crypto market trend this week, surging more than 16% amid a flurry of new exchange listings.

The altcoin, Bone ShibaSwap (BONE), is trading at $1.06 at time of writing, up from $0.913 seven days ago.

The 165th-ranked crypto asset by market cap will be used to pay for gas fees on Shibarium, the much anticipated layer-2 project designed to make the Shiba Inu ecosystem more efficient, similar to Polygon (MATIC) on Ethereum (ETH). Shibarium launched its beta version, “Puppynet,” last month.

BONE is also the native token for ShibaSwap, a decentralized finance (DeFi) and decentralized exchange (DEX) for the Shiba Inu sphere.

The Seychelles-based crypto exchange giants Huobi and OKX (formerly OKEx) both rolled out trading services for Bone ShibaSwap earlier this week.

Additionally, the Indian crypto exchange Flitpay and the Singapore-based exchange Deepcoin also listed BONE in recent days.

The Shibarium aims to allow developers to create fast, inexpensive and highly scalable applications. The project was first announced in May of 2021 and has been in steady development ever since.

Despite BONE’S gains this week, the project remains more than 93% down from its all-time high of $15.50, which it hit in July 2021.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney





Source link

Add a comment