There is a lot of speculation within the Shiba Inu community about the possibility of BONE being listed on Binance. This speculation has caused the token to gain over 9% in value in just one day. The integration of ShibaSwap into Shibarium, the ecosystem’s layer 2 network, has also contributed to this positive sentiment.
The question on everyone’s mind is whether BONE will make its debut on Binance. This speculation has been building up over the past few days and has resulted in a 9% increase in the token’s value. It’s worth noting that BONE has been on a downward trend since early March.
On Monday, Binance made an announcement calling for project applications. The exchange wants to address the issue of projects launching their tokens with high valuations but low initial circulating supplies. Binance aims to foster a healthy industry with a diverse range of market participants, including projects with lower to medium valuations. They are inviting high-quality teams and projects to apply for their listing programs, such as direct listing, Launchpools, and Megadrops.
Binance has set specific criteria for the projects they will consider, including strong fundamentals, an organic community base, a sustainable business model, and a dedicated team. They are particularly interested in projects with small-to-medium valuations relative to their competition. BONE, with a market cap of $149 million, meets these criteria. Binance also wants projects that have significant token allocation reserved for community users and demonstrate a good product market fit.
In addition to the potential listing on Binance, selected projects will benefit from Binance’s Launchpad and Megadrop programs, which will help raise awareness for these projects within the crypto community.
Supporting small-to-medium capitalization projects is part of Binance’s strategy to mitigate risks in certain aspects of the market. As the largest exchange in the world, they are committed to actively supporting these projects.
There is a lot of speculation that BONE will be one of the projects chosen by Binance. This has resulted in a 9% increase in the token’s value and a 120% increase in trading volume. Currently trading at $0.6478, BONE has a market cap of $149 million. Despite a dip over the weekend, BONE has gained close to 15% in the past week.
This recent surge in value is a much-needed reversal of fortune for BONE, which has been on a decline since early March. After reaching a high of $1.23, the token dropped to a low of $0.559 in mid-April. While there have been a few rallies, they have been short-lived, and the bears have regained control of the market.
Nevertheless, the BONE community remains strong. On Binance’s Futures NEXT platform, BONE is among the top ten cryptocurrencies that users want to see listed on the platform, with over 16,600 votes.