Binance Hearts SHIB – Adds As Margin Trading Collateral. Is Bone Next?

Binance, the renowned cryptocurrency exchange, has announced the addition of 22 new loanable and collateral assets to its Flexible Loan and VIP Loan services. This groundbreaking development, announced on the 4th of August, has been met with widespread anticipation and speculation.

Among the new collateral assets, the Shiba Inu (SHIB) stands out. This meme-inspired cryptocurrency, currently priced at a humble $0.000009, has been approved as a collateral asset, marking a significant milestone in its journey.

This development has sparked speculations about the potential listing of Bone ShibaSwap (BONE) tokens on Binance. This speculation coincides with the upcoming launch of the layer-2 blockchain, Shibarium, which is expected to take place in August.

Following the launch of the Shibarium testnet, PuppyNet, BONE has been listed on various cryptocurrency exchanges, including OKX, Huobi, and Crypto.com. Binance is considering the listing of the BONE token, with its potential inclusion contingent upon the successful launch of the Shibarium mainnet. This fulfills one of the listing prerequisites for new tokens on Binance.

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Binance’s Flexible Loan service is an isolated, overcollateralized, and open-term loan service that allows users to complete loan orders while collateralizing cryptocurrencies. It offers users greater flexibility without committing to a specific loan term when borrowing cryptocurrencies, and allows them to earn Real-Time APR rewards.

In the wake of Binance’s recent announcement, Shiba Inu (SHIB) has experienced a significant surge in its price. The meme-inspired cryptocurrency, which was trading at a modest $0.000008533, has seen a 4.11% increase in the last 24 hours. This bullish trend underscores the impact of Binance’s decision and the market’s positive response to it.

Source: CoinStats

Shiba Inu, the main token of the Shiba Inu ecosystem, has grown to become a worldwide phenomenon since its inception in late 2020. The Ethereum-based SHIB token is now accepted as a form of payment at hundreds of locations, either directly or through third-party intermediaries. This global acceptance and the recent price surge further solidify Shiba Inu’s position in the crypto market.

While the current bullish trend is a positive sign for Shiba Inu investors, it’s important to remember that the crypto market is highly volatile. Prices can fluctuate rapidly, and investments should always be made with careful consideration of the potential risks.

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

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