Crypto.Com became the 10th largest BONE holder
Crypto.com, a Singapore-based digital exchange, is a one-stop shop with a wide range of products and services for crypto transactions. The exchange, founded in 2016, is among the older platforms with a good reputation in the industry.
Crypto.com has extended its prominence with its significant holdings of Bone ShibaSwap tokens in a new development. It is currently among the top 10 holders of BONE, the Shiba Inu Governance token.
Crypto.Com takes the 10 positions as the largest holder of BONE
In accordance data from the blockchain explorer and analytics platform, Etherscan.io., Crypto.com’s BONE wallet recorded a remarkable increase recently. As of March 2, the wallet has accumulated over 2.16 million BONE worth more than $2.66 million.
Following this increase, Crypto.com has become the 10th largest holder of BONE, the Shiba Inu governance token. It follows another Singapore-based exchange, MEXC Global, in the BONE holders’ ranking.
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An anonymous wallet took the first position, with over 32.8 million BONE worth $40.4 million. The second position goes to a wallet, ‘Mexc.com 3’, linked to the MEXC Global exchange. It has up to 18.51 million BONE tokens worth over $22.77 million.
Bone ShibaSwap is a new decentralized exchange (DEX) operating in the Shiba ecosystem. DEX supports token exchange for users and other packages in DeFi opportunities. These include input, supply of liquidity and farm returns. So users can easily exchange tokens without going through an intermediary.
Crypto.com support increases BONE’s recognition
Crypto.com announced its new innovative move involving the Bone ShibaSwap token. The digital asset exchange enabled deposits and withdrawals of BONE through the Cronos app. Also, the newly created wallet of Crypto.com emerged as the fourth most prominent holder of Shiba Inu (SHIB) recently.
In early March, Crypto.com listed Bone ShibaSwap (BONE) along with its 250+ other digital assets on its platform. According to the listing, the digital asset exchange allowed the BONE and USD trading pair on the platform.
The entry was one glowing light for Bone ShibaSwap as the token gained more attention and hype. The token also made the top 100 digital currencies in terms of market capitalization. However, BONE has lost a good portion of its value since then.
In accordance data from CoinMarketCap, BONE is currently ranked as the 133rd largest digital asset with a market cap of $270 million.
At the time of writing, BONE is trading at around $1.16, indicating a 54% drop in the last 24 hours. While Shiba Inu trades in the green zone, he has recorded significant gains in recent weeks.
Featured image from Crypto.com and chart from Tradingview.com
