ShibaSwap’s BONE surges 8% while SHIB price drops
The Shiba Inu ecosystem token has seen an 8% gain since the trading session opened on Monday. The hero of the occasion is Bone, a Shibaswap token that has recently become widespread on cryptocurrency exchanges. As predicted earlier, the massive listing of Bone across medium and large venues will lead to an influx of liquidity into the coin.
Despite a lack of growth stories, BONE, like SHIB, has managed to attract the attention of large Ethereum holders. Thus, according to fresh data from WhaleStats, the cryptocurrency has become one of the most used smart contracts among the top 500 ETH whales.
That said, unlike SHIB, Bone doesn’t have broad exposure to the top 100 of this investor group, which accounts for 5% of their portfolio. At the same time, we can expect to see an increase in Bone exposure to Ethereum whale portfolios with the release of Shiberium, where the token will be used as a gas fee.
BONE price action
BONE has rallied over the past two days after the price managed to hold on to important support at $0.83. In addition, BONE’s trading volume has increased by 21% in the last 24 hours.
The cryptocurrency reached its all-time high at the end of August just a month and a half ago. Bone was trading at $2.4 at the time. Now, BONE would need to increase by 150% to reach those values again.
