Binance CEO Sees A Troubling Day For Cryptos As Biden Proposes Taxation Scheme — Bone ShibaSwap Offers Solution

Binance CEO Changpeng Zhao, popularly known as "CZ," took to Twitter on Thursday to share that after a mere four hours of sleep, he awoke to some troubling events affecting the cryptocurrency world.

Timeline of Bone-shibaswap

Poloniex took to Twitter to announce the addition of Bone ShibaSwap (BONE), listing the timeline for the same. BONE token deposits will open on March 9, 2023 at 10:00 (UTC); and BONE/USDT trading will commence on March 9, 2023 at 11:00 (UTC).

With the fast-approaching public beta launch of the long-awaited Layer 2 blockchain Shibarium by the team that has founded the Shiba Inu (SHIB) ecosystem, the Bone ShibaSwap (BONE) token has experienced a massive spike due to its announced utility in the upcoming network.

On Wednesday (March 8, 2023), the price of meme-based cryptocurrency $SHIB is surging as the Shiba Inu community eagerly awaits this week's launch of the beta version of Shiba's Layer 2 (L2) scaling solution Shibarium. Here is what Binance Academy says about Shiba Inu ($SHIB): “Shiba Inu (SHIB) is a dog-themed meme cryptocurrency named after a Japanese dog breed.

While the rest of the crypto market is still in a bewildered state, Shiba Inu's BONE, a governance token for the upcoming Shibarium layer 2 blockchain, has surged by over 10% in the last 24 hours.  The rally occurred after Shibarium developers announced earlier today the launch of the Shibarium blockchain later this week.

Shiba Inu's highly anticipated layer-2 scaling solution Shibarium is nearly ready for launch. Shibarium's official Twitter account says the countdown is now on, and liftoff for a beta version of the platform will happen this week.

Crypto.com, a major cryptocurrency trading platform that saw a spot trading volume above $300 million over the past 24-hour period and plays a critical role in the ecosystem, has listed added support for $BONE, one of the tokens within the Shiba Inu ($SHIB) ecosystem.

Shiba Inu (SHIB), the second-largest meme coin in the crypto market, has gained lots of attention lately. With the Shibarium portal going live and the burn rate reaching new heights, investors are hoping for a massive price rally.

Shiba Inu ecosystem token BONE has experienced a price surge of 20% making it one of the best-performing altcoins in the past week. This starkly contrasts the crypto market, which experienced a significant consolidation during this period.

The last six-month price action of the BONE token price has shown a textbook example of a rounding bottom pattern. This pattern is usually observed at market bottoms, and its emergence signifies a sustained improvement in market conditions and a trend reversal.

The launch of the beta version of Shibarium, the layer-2 network if Shiba Inu, is getting closer and closer. As NewsBTC reported, lead developer Shytoshi Kusama published a blog post yesterday in which he informed about the upcoming steps before the launch.