Crypto.com exchange has been accumulating BONE heavily this month
Prominent SHIB enthusiast Lucie Sasinkova, who goes under the name @LucieSHIB on Twitter, shared a screenshot from Crypto.com. It shows that this major digital exchange has been buying large amounts of Bone ShibaSwap (BONE) meme tokens since the beginning of March.
She pointed out that the platform “keeps stacking while people are selling”, adding that this is “an example of smart move”. The BONE balance of the exchange went up from zero to 2.1 million tokens.
This is an example of a smart move.
@cryptocom keep stacking while people selling.. $BONE
Only noobs will sell now.
It’s accumulating times.
My opinion 🙂 pic.twitter.com/f71VsQJkjK
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) March 24, 2023
Buying BONE as Puppynet has been released
BONE is the governance token of the Shiba Inu system, which is also a token for paying gas fees on the recently launched Shibarium protocol beta (the testnet is known as Puppynet). All transactions on Shibarium are going to be paid for with BONE. It will also help to burn Shiba Inu coins as part of these gas fees will be converted into SHIB and then transferred to unspendable wallets.
After the lead of Shiba Inu, the pseudonymous Shytoshi Kusama published a link to the Intake form, thousands of dev teams submitted it in order to build on Shibarium and support it in many other ways. They can now create DeFi apps, smart-contracts and other things on the layer-2 network for the Shiba Inu system.
About a week ago, it was reported that 5 million BONE tokens were withdrawn from a BONE staking contract after rumors were spread that the released Shibarium testnet was copied from another blockchain – Rinia network. 800 billion SHIB were also unstaked several days later for the same reason.
Crypto.com moves 25 trillion SHIB
As reported by U.Today earlier, Whale Alert crypto tracker detected several consecutive transactions which moved 4.15 trillion Shiba Inu meme coins from Crypto.com to an unknown crypto address. 24.9 trillion Shiba Inu were transferred in total.
The community first thought that it was a mega whale moving SHIB to their cold wallet after a generous purchase. However, the CEO of Crypto.com Chris Marszalek later clarified that it was a standard custodial move of funds and there was nothing to worry about.
Read More: u.today