BONE Sees Double-Digit Jump After Multiple Platforms List Shiba Inu's Governance Token

Shiba Inu's governance token BONE has shown off a double-digit surge after multiple crypto exchanges (CEXs) made the altcoin available on their platforms.

New York-based crypto trading platform Uphold tweeted on Wednesday that it had already listed BONE, therefore retail investors could now buy and sell Shiba Inu's governance token on the platform.

A day before Uphold made the announcement, SunCrypto, a leading cryptocurrency exchange in India, also announced the availability of BONE on its platform.

Following the listings, BONE saw a double-digit surge of 12% in its value from $0.7175 on Tuesday to $0.8034 on Wednesday. These are just two of the growing list of exchanges that have listed Shiba Inu's governance token.

Hong Kong-based CEX LBANK listed BONE in September, while the custody-free exchange StealthEX added support to the token at around the same time. Another exchange that added the crypto asset to its platform was BlueBit.io.

Launched in July last year, BONE has come a long way and even reached its all-time high on Oct. 8 when it traded at $3.02. As one of the major tokens of Shiba Inu's decentralized crypto exchange (DEX) platform, BONE allows the Shiba Inu community, more popularly known as the Shib Army, to vote on upcoming proposals.

The more BONE a user holds, the more weight their voice carries in the ecosystem's plans and future initiatives. However, the accumulation of the crypto asset started to surge when Shiba Inu's pseudonymous lead developer Shytoshi Kusama revealed that BONE would be used as gas fees for the highly anticipated layer-2 solution of the ecosystem.

Shibarium is the upgrade that will transform SHIB from an ERC-20 token on Ethereum to a self-sufficient ecosystem. It also promises more efficiency and lower gas fees, which are attractive to investors.

With the Shibarium launch nearing by the day, investors are trying to include BONE in their portfolios in the hope that its price will surge when the upgrade officially rolls out. The governance token has become popular on various social media platforms and is one of the most mentioned cryptocurrencies on Twitter.

Over the last seven days, BONE's price has rocketed by 22% and has been on the 166th spot in the list of altcoins trading, as per CoinGecko. As of 11:54 a.m. ET on Wednesday, BONE was trading up 1.47% at $0.7734 with a 24-hour volume of $3,906,579, based on the latest data from CoinMarketCap.