SHIB Spikes 5% as Binance Announces Shiba Inu (SHIB) as Collaterized Asset: BONE Listing Soon?

Crypto exchange, Binance has announced the addition of twenty-two loanable assets and collateral assets on Flexible Loan and VIP Loan on August 4th.

New collateral assets include popular memecoin Shiba Inu (SHIB), along with Compound (COMP), Enjin (ENJ), and other tokens such as IOTA, RLC, HOT, THETA, and IOST.

• Binance’s latest official announcement, soon sparked conversations about a potential listing of BONE on the crypto exchange.
• BONE is being touted as a crucial token for applications built on the layer 2 Shibarium ecosystem in addition to SHIB, LEASH, and TREAT.
• According to Shiba Inu’s lead Shytoshi Kusama, BONE will also serve as the “passport to the future,” being the token delegators bury to acquire rewards. Notably, it will also function as a gas token for Shibarium, and technology governance within the new system.
• Kusama also revealed plans to mint the remaining supply of BONE tokens, followed by the renouncement of the BONE contract.
• Meanwhile, the upcoming Shibarium is expected to help Shiba Inu move away from its memecoin status and become a serious decentralized finance (DeFi) contender in the blockchain space.
• With the launch drawing closer, the hype around SHIB has increased significantly. It was up by more than 5% over the past 24 hours. pushing its weekly gains to over 10%.
• BONE had also gained bullish momentum during the same period. Over the past week, the token was up by 25%.
• The surge can be attributed to various crypto exchanges listing this includes OKX, Crypto.com, and Huobi.