Shiba Inu, the popular cryptocurrency, is celebrating the news that its official liquid staking derivative (LSD) partner, K9 Finance DAO, has been chosen by CoinW to list its native token, KNINE. CoinW, a leading crypto exchange, recently announced its plans to add KNINE to its platform for trading purposes. The exchange also revealed that it will soon enable deposit and withdrawal services for the token, although the exact timing for these functions has yet to be confirmed.
Since its launch in March, KNINE has only been listed on two centralized crypto exchanges, BitMart and MEXC. However, with the upcoming listing on CoinW, KNINE’s availability on centralized exchanges will increase to three, which is a significant milestone for the token.
The prospect of KNINE being listed on CoinW has generated excitement within the K9 and Shiba Inu communities. This listing will enhance the liquidity of KNINE and provide more opportunities for traders to engage with the token.
The Shiba Inu ecosystem team has also expressed enthusiasm about KNINE’s upcoming listing on CoinW. In a tweet, they congratulated the K9 team on the listing and highlighted the continuous growth of the project since its inception. Earlier this year, K9 became Shiba Inu’s official LSD partner, responsible for enhancing the decentralized finance (DeFi) functionalities of the Shibarium ecosystem.
In addition to the listing news, KNINE’s price has seen a slight increase of 1.78% over the past 24 hours. As of now, the token is trading at $0.00003011 per unit and is ranked as the 3,306th largest cryptocurrency, with a market capitalization of $3.53 million.
Furthermore, the K9 team is preparing to reduce the token’s supply by burning 410 million KNINE tokens on May 31st. This burn event is being conducted as a tribute to Vitalik Buterin, who played a significant role in Shiba Inu’s rise to prominence by burning 410 trillion SHIB tokens in 2021.
It remains to be seen how the upcoming burn event and KNINE’s listing on CoinW will impact the token’s price. Traders and investors are advised to conduct thorough research before making any investment decisions.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. The views expressed in this article are the author’s personal opinions and do not necessarily reflect the opinion of The Crypto Basic. Readers should independently research and analyze before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.