Unexpectedly, the MEXC exchange has progressively increased to become the third-largest holder of the Shiba Inu token BONE, according to the most recent statistics from Etherscan. With 12.506 million BONE tokens in MEXC’s hot wallet right now, this hoard is worth a stunning $12.67 million at the current token price.
The fact that MEXC’s wallet is the largest wallet-holder of BONE—the only larger holders being the two smart contracts connected to staking management and ShibaSwap—makes this information even more noteworthy.
Given that MEXC does not even place among the top five centralised exchanges in terms of BONE trading volume, the situation is contradictory. MEXC is now in eighth place on CoinMarketCap with a daily turnover of $640,500 BONE. Huobi, OKX, and Gate are in the lead.
More interesting BONE data
Analysing the data further reveals that MEXC’s liquidity score for BONE is an impressive 351, second only to Bitget. The importance of MEXC’s significant BONE holdings is highlighted by its high liquidity score, which implies that these holdings are essential to preserving the token’s liquidity on the exchange.
In turn, BONE has surpassed SHIB’s own reserves by a factor of more than four and secured a spot among the top 10 digital assets held in MEXC’s known hot wallets. MEXC’s strategic placement in the Shiba Inu ecosystem and its rising significance among the community are highlighted by this striking change in the distribution of BONE.
