Shiba Inu: BONE Surges by 6% Following Margin Trading Listing on Gate.io

Bone ShibaSwap (BONE), the gas token of the Shibarium layer-2 network for Shiba Inu, experienced a 6% increase in value after its margin trading was listed on the Gate.io exchange.
The official X account of the Shiba Inu ecosystem announced the listing on March 21, emphasizing the importance of responsible trading.
Margin trading involves borrowing money from an exchange to purchase assets, with repayments made at a later date along with higher interest rates.
Margin trading is considered high-risk due to the volatility of the cryptocurrency industry, which exposes traders to potential losses. The BONE margin trading offering on Gate.io is no exception.
The terms for borrowing BONE on Gate.io are similar to those for other assets on the platform. Gate.io confirmed that the listing includes an hourly updated borrowing rate.
Currently, the trading or borrowing rate stands at 0.000100% per hour and 0.88% annually. There are currently 83,323 BONE tokens available to borrow, valued at 76,380 USDT.
To access the product, users will need to complete Know Your Customer (KYC) verification. The borrowing rate increases as traders progress in their VIP status. At VIP Level 16, the daily and annual rates can reach as high as 0.000105% and 0.93%, respectively, with a loan cap of 20,000 BONE tokens.
The listing of BONE on Gate.io is a significant development, as the Shiba Inu community, including developers like Shytoshi Kusama, have been advocating for its listing on major platforms such as Binance. BONE has demonstrated its relevance in both the Shibarium ecosystem and the overall market, with rumors of potential listings on Huobi and OKX.
The news of the listing has contributed to a small increase in the price of BONE, which currently sits at $0.9185, up 0.85% in the past 24 hours and 6% in the past week.
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