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Crypto.com, a Singapore-based digital exchange, is a one-stop shop with a wide range of products and services for crypto transactions. The exchange, founded in 2016, is among the older platforms with a good reputation in the industry.
Crypto.com has expanded its prominence with its significant Bone ShibaSwap tokens holdings in a new development. It is currently among the top 10 largest holders of BONE, the Shiba Inu Governance token.
Crypto.Com Takes The 10 Positions As The Biggest Holder Of BONE
According to data from the blockchain explorer and analytics platform, Etherscan.io., Crypto.com’s BONE wallet recorded a remarkable increase recently. From March 2, the wallet has accumulated over 2.16 million BONE worth more than $2.66 million.
Following this increase, Crypto.com has become the 10th largest holder of BONE, the Shiba Inu governance token. It follows another Singapore-based exchange, MEXC Global, in the BONE holders ranking.
Related Reading: Bitcoin Price Will Hit $50,000 In Under A Year, This Economist Says
An anonymous wallet took the first position, holding over 32.8 million BONE worth $40.4 million. The second position goes to a wallet, ‘Mexc.com 3’, linked with the MEXC Global exchange. It holds up to 18.51 million BONE tokens worth over $22.77 million.
Bone ShibaSwap is a new decentralized exchange (DEX) operating in the Shiba ecosystem. The DEX supports token swaps for users and other packages in DeFi opportunities. These include staking, provision of liquidity, and farm yielding. So, users could conveniently swap tokens without passing through an intermediary.
Crypto.com Supports Boosts BONE’s Recognition
Crypto.com announced its new innovative move involving the Bone ShibaSwap token. The digital asset exchange enabled deposits and withdrawals of BONE through its Cronos app. Also, the newly created wallet of Crypto.com emerged as the 4th most prominent holder of Shiba Inu (SHIB) recently.
In early March, Crypto.com listed Bone ShibaSwap (BONE) alongside its 250+ other digital assets on its platform. According to its listing, the digital asset exchange allowed the trading pair of BONE and USD on its platform.
The listing was a glowing light for Bone ShibaSwap as the token received more attention and hype. Also, the token made the top 100 digital currencies in terms of market cap. However, BONE has lost a good portion of its value since that time.
According to data from CoinMarketCap, BONE is currently ranking as the 133rd largest digital asset with a market cap of $270 million.
At the time of writing, BONE is trading at around $1.16, indicating a drop of 54% over the past 24 hours. While Shiba Inu is trading in the green zone, registering significant gains in the previous few weeks.
Featured image from Crypto.com and chart from Tradingview.com
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