Binance Adds Shiba Inu as Collateral Asset: Implications for SHIB’s Future

In a recent strategic move, Binance has expanded its Flexible Loan and VIP Loan services by introducing 22 new loanable and collateral assets.

Notably, this lineup includes the meme-inspired cryptocurrency Shiba Inu, a development that holds promising implications for the coin’s future trajectory.

The addition of Shiba Inu as a collateral asset on Binance marks a crucial milestone, thrusting the dog-themed meme coin further into the spotlight.

Binance’s decision to approve Shiba Inu as collateral underscores a growing recognition of the coin’s market potential and the increasing trust in its liquidity.

This move could potentially pave the way for heightened adoption of SHIB as a credible asset within the broader cryptocurrency and decentralized finance (DeFi) landscape.

Interestingly, Binance’s announcement has triggered speculation surrounding the potential listing of Bone ShibaSwap (BONE) tokens on the exchange.

This speculation aligns with the eagerly-awaited launch of the layer 2 blockchain, Shibarium, slated for this month.

A successful Shibarium mainnet launch could open the door for BONE’s listing on Binance, a move that has the potential to elevate the visibility and credibility of both SHIB and BONE.

Binance’s recent move involved more than just Shiba Inu. Notable assets such as Compound and Theta were also included, highlighting the exchange’s commitment to catering to a diverse range of crypto investors.

The implications of this announcement for Shiba Inu are profound, signifying its evolution from a meme-originating token to a legitimate financial asset within the cryptocurrency sphere.

The approval of SHIB as a collateral asset holds the potential to attract serious investors, subsequently influencing its price and market capitalization over time.

The anticipation of BONE’s potential listing on Binance, contingent on the Shibarium launch’s success, further fuels this speculation.

As the lead developer, Shytoshi Kusama, revealed the expected Shibarium launch in August, the potential listing of BONE on Binance becomes a tangible possibility.