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Published Nov 21, 2023 11:22AM ET

An unknown user recently transferred a significant amount of ShibaSwap’s governance token, BONE, to a wallet associated with the cryptocurrency exchange Binance, leading to speculation about a potential new listing on the platform. The transfer, which took place today, involved approximately 17,000 units of BONE, valued at around $10,000.

The transaction was detected by blockchain explorer Etherscan, which identified the receiving wallet as part of Binance’s vast network. Alongside the larger transfer, another batch of 507.2 BONE tokens was also sent to the same wallet. This type of activity is not new; similar patterns involving BONE and this particular wallet have been observed over several years.

The move has caught the attention of crypto enthusiasts and investors, as Binance is one of the world’s leading cryptocurrency exchanges. The presence of Shiba Inu (SHIB), a related token that is already traded on Binance, adds to the intrigue surrounding the transaction.

As of now, it remains unclear whether the transfers indicate an upcoming listing of BONE on Binance or if they were simply user deposits made in error. It’s important to note that exchanges like Binance do not guarantee asset credit for tokens that are not officially listed on their platform. The crypto community will be watching closely for any announcements from Binance regarding the status of BONE on its trading platform.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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