The transfer of thousands of BONE tokens to a Binance-linked wallet has fueled speculation that the leading exchange could list the Shiba Inu ecosystem asset.
Listing on the world’s largest cryptocurrency exchange by trading volume is one of the most coveted milestones for any blockchain-based project. The Shiba Inu project already enjoys this status with the SHIB token listed on Binance.
However, speculation has arisen that an additional milestone could be on the way for the Shiba Inu ecosystem, this time involving BONE. BONE is the governance token of ShibaSwap, a decentralized exchange developed by the Shiba Inu ecosystem team.
Eagle-eyed investors have spotted the movement of large amounts of BONE tokens to an address linked to Binance.
Specifically, an unknown user transferred 17,000 BONE tokens (approximately $10,000) to an address tagged by blockchain explorer Etherscan as belonging to Binance. At the exact same time, another ADDRESS moved 507.2 BONE (approximately $322) to the same Binance address.
The nature of the transfers and the amount involved have fueled speculation within the SHIB community that Binance is potentially preparing to list the asset.
Is Binance ready to list BONE?
Several factors may be behind the recent transfer of thousands of BONE to the Binance wallet. The transfer can remotely be considered proof that the exchange is preparing to list the asset.
However, such a case seems less likely as the current transfer is not the first involving this specific Binance address and BONE tokens. He blockchain trail shows that the address has previously received and transferred BONE several times from its initial interaction with the token approximately two years ago.
Meanwhile, the transfers may also be a case of Binance users mistakenly transferring BONE tokens to Binance, in the hope of being able to trade the asset on the platform.
In most cases, such transfers could be lost as the exchange will not credit the deposit and will simply remind users that they do not support trading of the asset. In rare cases, the exchange may choose to credit the deposit at any time in the future when they list the asset.
The latest BONE transfers show that Binance is actively interacting with BONE. Although the asset is not listed for trading on its platform, such interaction could pave the way for a listing in the future, but this remains speculative at press time.
