Fast Rising Altcoin From Shiba Inu (SHIB) Ecosystem Gets Big Crypto IPO Ahead Of Shibarium Release
A key altcoin in the Shiba Inus (SHIB) ecosystem is slated to list on Gate.io, according to an update from the crypto exchange.
Gate.io, a top 20 exchange with over $800 million in 24-hour trading volume, updated its ShibaSwap (BONE) trading page on Thursday with a countdown to when the altcoin will go live.
BONE will be used for gas fees and governance on Shibarium, the highly anticipated layer-2 project designed to make Shiba Inu more efficient, similar to Polygon (MATIC) on Ethereum (ETH). It is also the original token for ShibaSwap, a decentralized finance (DeFi) and decentralized exchange (DEX) for the Shiba Inu sphere.
Gatio.io’s BONE entry comes just as ShibaSwap confirms that the beta version of Shibarium will be released sometime next week.
The release dates for both the beta version and the official version of Shibarium have been the subject of debate, and the project’s pseudonymous lead developer Shytoshi Kusama has said that he is not giving firm dates to avoid disappointment from potential delays.
Earlier this month, BONE was also listed on Bitget, another crypto exchange of similar size to Gate.io. The Shiba Inu community launched a petition to get Binance, the largest crypto exchange in the world, to list BONE in early February, but Binance has yet to respond.
At the time of writing, BONE is up 45% in the last 30 days, and just under 10% in the last 24 hours. Doge Killer (LEASH), another altcoin in the Shiba Inu ecosystem, is also outperforming the crypto markets, currently up 150% since the start of the year.
LEASH is expected to power Shibaverse, an upcoming non-fungible token (NFT) and metaverse project for the Shiba Inu community. LEASH’s exact utility will be determined closer to the release of Shibaverse.
At the time of writing, LEASH is trading at $711 with a market cap of $76 million.
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Featured image: Shutterstock/Sergey Nivens/karnoff
