BONE ShibaSwap Now Available On Binance, But There's A Catch

BONE, the governance token of the Shiba Inu decentralized exchange ShibaSwap and the gas fee token of the layer-2 scalability solution Shibarium, is now available on Binance.

The Shiba Army, particularly those holding BONE, have long been waiting for Binance to list Shibarium's gas fee token on its platform. Unknown to many, BONE is already available on Binance, but only in the decentralized finance (DeFi) section of its app.

Speculations surrounding the listing of BONE on Binance have been rife over the past few days, especially since some Shib Army flagged the movement of thousands of BONE tokens from unknown wallets to Binance.

Last week, two crypto wallets moved more than 17,000 BONE to a Binance-related wallet, fueling speculation that a listing on the platform might be imminent.

Another transaction involving the transfer of 507.2 BONE tokens was seen moving from a crypto wallet to the same Binance address.

Aside from the petition created on Change.org asking the crypto exchange to list the token, the Shiba Inu development team has already renounced the crypto asset, meaning the "contract owner has given up control, making $BONE fully decentralized and immune to any future changes or manipulation."

A lot of things have happened to the crypto industry, particularly to Binance, over the past few days.

The crypto exchange made a historic settlement agreement deal with the U.S. Department of Justice last week, including Binance paying $4.3 billion in penalties. The exchange was also required to let go of its founder and CEO, Changpeng Zhao, forcing the executive to step down from his post in the same week.

With Binance under new leadership, Shiba Ecosystem and Shibarium Tech marketing specialist using the X handle @LucieShib tagged the new CEO in her latest post on X, encouraging the new admin to list BONE.

"SHIBARMY, $BONE is exclusively available in the DEFI section of the @binance app. Fingers crossed for [the] upcoming #Shibarium integration and the listing of $BONE! @_RichardTeng," the post read.

BONE was trading up at $0.6209 as of 4:11 a.m. ET on Sunday, with a 24-hour trading volume down by 22.61% at $5,098,119.

This price action represented a 1.60% increase in the last 24 hours and a 1.1% loss over the past seven days.

Data from CoinMarketCap showed that Bone ShibaSwap's circulating supply stands at 229,923,351 BONE, with its value up by 1.65% at a $142,898,964 market cap.