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Bitcoin & Ethereum Lose Ground To Shiba Inu (SHIB) Altcoin

Shiba Inu (SHIB) ecosystem’s most important altcoin is coming to a crypto exchange backed by Tron (TRX) founder Justin Sun.

In a new release, the cryptocurrency exchange Poloniex says it is listing Shiba BoneSwap (BONE), the digital asset that will be used to pay for the gas fees of Shibarium, Shiba Inu’s highly anticipated upcoming Ethereum-based (ETH) layer-2 scaling solution.

“BONE wallets will open on March 9, 2023 at 10:00 UTC and full trading will be enabled on March 9, 2023 at 11:00 UTC…

BONE is a governance token of Shibaswap ecosystem which will allow the Shib Army to vote on upcoming proposals. The more BONE the user holds, the more weight their vote carries in these future endeavors. BONE has 250,000,000 tokens, and is designed to fit perfectly between the previous two tokens in regards to circulation supply.”

BONE is also the virtual asset that is used to run ShibaSwap, which is the Shiba Inu ecosystem’s decentralized exchange (DEX).

Before, crypto exchange platforms Gate.io and Bitget said they would list BONE, and the Shiba Inu community started a petition to get Binance, the world’s largest digital asset exchange by volume, to also support the crypto asset.

Binance hasn’t responded to the request yet, but last month, when BONE was announced as Shibarium’s utility asset, it staked four trillion SHIB tokens, which were worth about $35 million at the time.

At the time of this writing, BONE is trading for $1.75, which is a 27% increase from its seven-day low of $1.37. It is doing much better than Bitcoin (BTC) and Ethereum (ETH), which are currently trading for $21,612 and $1,533, respectively, which are both down a lot from their weekly and monthly highs.