Leading crypto platform CoinPedia Markets issues a prediction regarding the potential listing of Bone ShibaSwap (BONE), the ShibaSwap governance token and Shibarium gas fee, on Binance.
According to a recent Medium post, CoinPedia Markets projected that Binance, which boasts a user base of over 170 million, could list BONE in 2024 alongside nine popular crypto assets, like Baby Dogecoin (BABYDOGE) and Saga (SAGA).
4 Reasons Why Binance Might List BONE This Year
CoinPedia Markets highlighted four reasons that could propel Binance to list BONE on its trading platform.
The analytic platform stated that BONE functions as the governance token of ShibaSwap and the official gas token for Shiba Inu’s L2 blockchain Shibarium. With these functionalities, BONE holders can engage in governance and participate as stakeholders within the ecosystem.
CoinPedia Markets also highlighted BONE’s role in facilitating staking and liquidity, which could be essential in its potential listing on Binance. Notably, crypto exchanges like Binance prioritize digital assets with high liquidity because they help provide a seamless trading experience for users.
The third factor that could further bolster BONE’s potential listing on Binance is the token’s strong community sentiment. Like SHIB, BONE has also benefited from the support and engagement of Shiba Inu community members. Several enthusiasts have taken to X to express excitement regarding BONE’s potential listing on Binance.
These engagements could play a vital role in convincing Binance of BONE’s robust demand and growth prospects.
Lastly, the renunciation of the BONE contract implemented last year marks a significant step towards the token’s potential listing on Binance. As reported earlier, the team first minted the remaining supply of BONE before renouncing the contract.
Following the renunciation, the Shiba Inu ecosystem team cannot mint more BONE tokens, thus preventing developers from influencing or manipulating the asset’s price.
Shiba Inu Community Urges Binance to List BONE
Members of the Shiba Inu community have engaged in a series of campaigns to attract Binance’s attention to BONE. Besides launching a petition on Change.org, the community has participated in a campaign that could get BONE listed on the world’s largest exchange.
As reported earlier, Shiba Inu marketing specialist Lucie urged BONE enthusiasts to vote for the token’s potential listing on Binance Futures’ Next Platform. At press time, BONE is ranked 10th in the Next Pool, garnering 18,088 votes.
Despite BONE’s low ranking score, Binance can still list it ahead of other top-ranked tokens. The exchange stated that a token’s enormous popularity on the Next platform does not automatically guarantee its listing on the Futures platform.
It emphasized that all digital assets go through similar evaluation assessments for potential listing, irrespective of their popularity on the Next platform.
Should BONE eventually get listed on Binance this year, as CoinPedia Markets speculates, the token could attract a broader investor base from the exchange’s over 170 million global users.