ShibaSwap’s BONE token soared 5% after being listed on two major cryptocurrency exchanges, Huobi and OKX. However, it has already faced a slight correction.
Seychelles-based exchange Huobi confirmed that withdrawals would open a day after it begins accepting deposits and spot trading for the BONE token.
OKX exchange also announced on April 24 that it had completed the voting process and would list BONE alongside AIDOGE on April 25. In addition to providing support for the token, OKX will enable users to engage in spot trading of both BONE and AIDOGE on its platform.
As per Etherscan data, OKX now holds approximately 9.54 million BONE tokens valued at around $10.19 million, constituting 4.15% of the total BONE supply, surpassing both the Shiba Inu: Migrator address and the Crypto.com 5 address.
Bone surges up 5% following listings
The announcement of these listings caused the price of BONE to surge, reaching a local high of $1.16. However, the price has returned to $1.06 at the time of publication. ShibaSwap has seen an increase of over 5% and recorded a volume of $12.3 million in the past 24 hours, according to data from CoinMarketCap.
BONE has seen significant gains since the last quarter of 2022, with a 36% increase in price since the start of 2023. However, it is still down 55% from its all-time high of $2.40 in August 2022.
The recent listings on Huobi and OKX are expected to boost the visibility and trading volume of BONE. The crypto community is closely monitoring the market to gauge the performance of BONE and other ShibaSwap tokens in the near future.