Bitmex introduced BONE perpetual contracts to a lukewarm market response earlier today, but the token has maintained a sluggish performance since the centralized exchange’s listing announcement.
A few hours ago, Bitmex announced the official listing of Bitcoin and Tether-margined BONE listings, which include BONEUSD and BONEUSDT.
…with up to 5x leverage.
— BitMEX (@BitMEX) August 29, 2023
- The statement immediately caused hype within the community, with many responding with high hopes and anticipated enhanced price gains.
- However, the ShibaSwap governance token, BONE, continued its relatively flat trajectory despite the buzz, as seen on market charts.
- Just before the announcement, BONE was trading at $1.285. Soon after it was made public, BONE took a slightly declining path, dropping by 1.4% in minutes to a low of $1.267.
- The charts then show a brief increase to a high of $1.28 before settling back to the level of $1.27.
- In recent hours, BONE’s price has mirrored the downward trend observed in the past 5 to 6 days.
- Earlier in the week, BONE was trading at a low of $1.17 before surging to a weekly high of $1.45 on Aug. 24. Here are some of the reasons behind that massive price pump.
- However, since then, BONE has been losing value slowly to today’s 24-hour high of $1.29.
- Based on the tweet, the actual listing of the pairs will be completed tomorrow. Hence, some still anticipate price gains later in the week.