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Shiba Inu Token BONE Achieves Listing on Major Fiat-to-Crypto Platform

Fri, 07/21/2023 - 11:56
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Gamza Khanzadaev
BONE of Shiba Inu makes historic debut on major crypto exchange
Shiba Inu Token BONE Achieves Listing on Major Fiat-to-Crypto Platform
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In an exciting development for the Shiba Inu community, the ecosystem's token, BONE, has achieved a momentous listing on one of the cryptocurrency industry's major fiat-to-crypto platforms, Changelly. With this new milestone, BONE holders can now take advantage of Changelly's instant exchange services, allowing them to seamlessly buy, sell or exchange BONE for other digital assets or fiat with ease.

Why does BONE matter?

BONE, an integral part of Shiba Inu's decentralized exchange, ShibaSwap, plays a crucial role in the ecosystem as a governance token. Notably, it is also utilized for covering gas fees on the eagerly awaited Layer 2 protocol for Shiba Inu, known as Shibarium.

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Once Shibarium is launched on mainnet, all transactions on this layer will be subject to gas fees in BONE. More to the point, the burning of Shiba Inu's primary token, SHIB, will be partly funded by these gas fees.

More adoption

The listing of BONE on Changelly marks a momentous occasion for this  particular Shiba Inu token. Considering the platform's turnover, estimated to reach hundreds of millions of dollars, a significant amount of liquidity is expected to flow into BONE.

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This is an all-important event for the Shiba Inu ecosystem, as it opens up new avenues for growth and market presence. Consequently, BONE being available there is likely to fuel the token's adoption, making it more accessible to the broader user base and boosting its popularity and recognition.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.