Gushiken Yona
Bone ShibaSwap (BONE), in a significant development for the Shiba Inu ecosystem, took a major step toward broader market participation with the listing of the BONEUSDT perpetual contract on the Web3 crypto exchange SuperEx today.
This latest development, announced on Wednesday via the exchange’s official X account, introduced a new avenue for traders and investors to engage with the BONE token, potentially increasing its liquidity and visibility within the cryptocurrency landscape.
“Dear SuperExers: SuperEx will list the BONEUSDT perpetual contract trading pair, details are as follows: Trading Pair: BONEUSDT
Trading Time: July 3, 2024, 03:00 (UTC)
Underlying asset: BONE
Settlement asset: USDT
Tick size: 0.0001
Leverage multiple: 1~10X.
Spot Trading Link: BONEUSDT (This will be effective upon commencement of trading).
Support cross-position, isolated position, and split-position modes. You can trade the newly listed pair on the SuperEx web page and APP,” the details of the listing read.
The listing of BONEUSDT on SuperEx marked a significant milestone for Bone ShibaSwap. It provided the platform with greater visibility and accessibility in the crypto market. This expansion allowed traders to leverage multiple positions, including cross-position, isolated position, and split-position modes, thereby offering flexibility and opportunities for strategic trading.
For BONE holders, this listing presented new possibilities for managing their holdings. They could utilize the perpetual contract to hedge their positions, protecting themselves against potential price fluctuations. Additionally, the listing offered a chance for holders to increase their exposure to BONE, capitalizing on its potential for price appreciation.
The introduction of the BONEUSDT perpetual contract also had broader implications for the Shiba Inu ecosystem. As the governance token of ShibaSwap, Shiba Inu’s decenralized exchange platform, and the official gas token of Shibarium, BONE played a crucial role in shaping the future direction of the project. Increased trading activity and market interest in BONE could lead to greater participation in governance decisions, strengthening the community-driven aspect of the Shiba Inu ecosystem.
While the listing of the BONEUSDT perpetual contract represented a significant step forward, it also came with inherent risks associated with leverage trading. Perpetual contracts allowed traders to amplify their gains, but they also magnified potential losses. It is crucial for traders to exercise caution and employ risk management strategies when participating in this market.
As of 3:10 a.m. ET on Wednesday, BONE, the governance token of the Shiba Inu ecosystem, was trading at $0.4815, reflecting a modest 0.51% dip within the 24-hour timeframe. However, the token’s value had experienced a more pronounced decline of 4.05% over the past week and a significant 25.96% fall over the last 30 days.
Despite these fluctuations, BONE’s market presence remained substantial, with a total circulating supply of 229,923,351 tokens and a market capitalization of $110,690,486, according to the latest data from CoinMarketCap. This significant market capitalization underscored BONE’s continued relevance and potential within the evolving landscape of the cryptocurrency market.
Disclaimer: Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.
The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
