Amidst a flurry of remarkable events within Shiba Inu’s ecosystem, the BONE token appears to be garnering significant attention today, as its price rallied nearly 10%. Falling in line with the broader uptrend witnessed by SHIB recently, BONE’s surge seems to primarily result from a CEX’s announcement about the commencement of margin trading for the token.

Shiba Inu’s BONE is a DeFi token within the ShibaSwap ecosystem. It is designed to incentivize and attract users toward the Shiba Inu ecosystem by providing rewards and governance opportunities. Shiba Inu’s price was up 4.97% in the past 24 hours, trading at $0.00002721 as of press time.

GateIO Unveils BONE Margin Trading: A Closer Look

According to GateIO’s official announcement dated March 21, BONE margin trading is now live on the platform. With this latest move, GateIO expands its offerings for users looking to capitalize on BONE’s price rally.

Meanwhile, the BONE/USDT pair was listed for margin trading with up to three times leverage, per the CEX’s announcement. This added to the optimism surrounding Shiba Inu’s cryptographic venture, encompassing the meme coin’s ecosystem tokens. Whereas, the Shiba crypto community’s recent storm of breakthroughs initially birthed this tidal wave of market optimism.

https://t.co/8kWqgEeplL Margin Trading

New borrowable asset: #BONE

Trade: https://t.co/JBcsRmpDyU

View more loan information: https://t.co/uR85UO9rPs #Gateio #CryptoLoan #MarginTrading pic.twitter.com/e5igROaapi

— Gate.io (@gate_io) March 21, 2024

Earlier today, the meme coin’s community revealed the latest version of its magazine, further showcasing vital revolutionary developmental endeavors Shiba Inu embarked upon. Coming in tandem with all of this, Shiba Inu and its ecosystem’s tokens sparked investor enthusiasm globally, as mirrored by SHIB and BONE recent price actions.

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BONE Price Rallies

As of writing, the BONE price noted a substantial upswing of 8.85% over the past 24 hours and is currently trading at $0.9333. With a 24 hour trading volume jump of 2.06%, accompanied by a market cap surge of 9%, the Shiba Inu ecosystem token curated waves across the cryptocurrency landscape.

This upswing noted by BONE also appears to be part of the broader uptrend witnessed by Shiba Inu, as its price soared remarkably following continuous token-burning pursuits and recent developments, as mentioned above.

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The post Shiba Inu’s BONE Rallies 10% As GateIO Opens Margin Trading appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am