Uphold Reactivates SHIB And DOGE Trading, BONE Becomes In The Spotlight

BONE listing on the Uphold. (Photo; Doc. Bone Shibaswap)

JAKARTA The Shiba Inu Community (SHIB) can breathe a sigh of relief after the leading US-based crypto exchange, the Uphold, gave a positive response to the Shiba Inu community's request. Previously, they asked the Uphold to register (listing) BONE tokens on its platform. Not only that, the Uphold also announced that it had reactivated nine alternative cryptocurrencies, including SHIB and Dogecoin (DOGE), for Canadian customer bases.

This decision was taken after the Uphold had disabled ten digital assets in December 2023, citing regulatory constraints from Canadian government agencies. However, the Uphold appears to have resolved the issue and returned trading services to nine previously disabled assets, namely SHIB, DOGE, Cardano (ADA), Chainlink (LINK), Stellar (XLM), Uniswap (UNI), Aave (AAVE), Compound (COMP), and Maker (MKR).

This was welcomed by the crypto community, especially the SHIB Army, which is a term for SHIB fans and holders. Through social media platform X, many SHIB Army members have asked about the status of the BONE token in the Uphold.

For information only, BONE is a governance token of ShibaSwap's decentralized exchange (DEX) developed over the Ethereum blockchain network. BONE allows its holders to participate in the decision-making and development of the Shiba Inu ecosystem, which includes SHIB, LEASH, and BONE.

Uphold responded to the question with GIF content showing their enthusiasm for BONE. Uphold also uploads data from their transparency platform showing that BONE is already included in the list of assets that are supported and can be traded on the Uphold. Uphold classifies BONE as a "Tier 3" asset, meaning users can store, buy, sell, or send BONEs, as well as deposit and withdraw BONEs to and from external crypto wallets.

Uphold transparency data also shows that this exchange holds BONE worth $791,898 (IDR 12.5 billion) for Bone investors. Bone holders at the Uphold have made a total of 40,900 transactions on this platform. This number shows high interest and activity towards BONE in the Uphold.

BONE itself is one of the crypto tokens that is on the rise in the market. According to data from CoinMarketCap, BONE has a market capitalization of $141.2 million (Rp 2.2 trillion) and a price per token of $0.565 (Rp 8,930) as of January 29, 2024. BONE also has a maximum supply of 250 million tokens, with 249.9 million tokens currently circulating.