Shiba Inu’s $BONE token listed on crypto exchange with over 3 million users

$BONE, one of the tokens that is part of the meme-inspired Shiba Inu ($SHIB) crypto ecosystem, has been listed on popular cryptocurrency exchange CoinEx, offering access to the token to its more than 3 million users.

According to an announcement the Hong Kong-based cryptocurrency trading platform has released, it is adding a trading pair for BONE, allowing users to trade it against the leading stablecoin Tether ($USDT).

It is worth noting that $BONE is the governance token of the Shiba Inu community’s decentralized exchange ShibaSwap and is one of the three tokens within the Shiba Inu ecosystem, along with $SHIB and $LEASH.

ShibaSwap allows users to provide liquidity to the platform via the Dig functionality and to stake their tokens via the BURY functionality. Users can also earn WOOF returns through the platform while granting users access to non-fungible tokens (NFTs).

CoinEx listed rival meme-inspired cryptocurrency Floki Inu ($FLOKI) back in May this year. At the time, FLOKI was listed on a number of other trading platforms, including Huobi Global, which increased the token’s liquidity.

However, $BONE does not have major cryptocurrency exchange listings as it is not found on platforms like Binance or Coinbase. Available data shows that most of the cryptocurrency’s trading volume occurs on decentralized exchanges such as Uniswap, ShibaSwap, and SushiSwap. It is listed on smaller centralized exchanges such as BKEX, BitMart, MEXC and LBank.

The Shiba Inu community has seen a string of victories in recent weeks. As reported, the rate at which SHIB tokens are being burned surged earlier this week, at a time when Ethereum ($ETH) whales were joining the movement and helping to burn tokens.

Shiba Inu tokens are burned when sent to so-called dead wallets, which are wallets on the Ethereum network that nobody has access to, meaning the tokens are effectively retired as they cannot be recovered.

The SHIArmy has long advocated token burns to reduce the circulating supply of the meme-inspired cryptocurrency, thereby making circulating tokens more valuable when demand is sustained or increases. At the end of last year, the Shiba Inu community had already burned a total of 410 trillion tokens.

Also read: Who Created Shiba Inu ($SHIB)?

Notably, the average hold time users of Nasdaq-listed cryptocurrency exchange Coinbase hold the meme-inspired Shiba Inu ($SHIB) cryptocurrency before either selling it or moving it to an external address has now surpassed the six-month mark.

The typical hold time for Shiba Inu investors on the platform is now 190 days, exceeding the typical hold time of other major cryptocurrencies including Bitcoin ($BTC), Ethereum ($ETH), Cardano ($ADA) and Solana ($SOL) . .

Shiba Inu investors are likely to forego their fortunes as developers and the community continue to operate Shiba Inu even after the creator’s departure and will soon launch new popular solutions.

These include Shibarium, a Layer 2 blockchain into which SHIB tokens could be migrated for lower transaction fees, and SHIB: The Metaverse, a Shiba Inu metaverse that users have already started buying land from.

In addition, developers are also working on Shiba Eternity, a trading card game highly anticipated by the community, which had its first glimpse of gameplay after Kusama announced the first successful test for Vietnam players on iOS devices.

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