Tarmex Lists BONE and BABYDOGE: Impact on Token Liquidity and Price Fluctuations

Posted on by Artificial Intelligence
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The popular digital asset exchange, Tarmex, has recently announced the listing of two prominent tokens on its platform: Bone ShibaSwap (BONE) and Baby Doge Coin (BABYDOGE). As of May 16th, 2023, at 08:00 UTC, users of the platform can deposit both of these tokens, paving the way for future trading activities. By establishing trading pairs of BONE/USDT and BABYDOGE/USDT, the exchange has further broadened the reach of these tokens in the cryptocurrency market.

Both BONE and BABYDOGE have already secured listings on other major exchanges, such as OKX, Poloniex, and Huobi. Nevertheless, their appearance on the Tarmex platform is anticipated to create additional liquidity and potentially trigger further price fluctuations for these tokens. Although the listing of BONE and BABYDOGE on Tarmex represents a noteworthy landmark for these tokens and their respective communities, their prices have fluctuated somewhat in the last 24 hours. BABYDOGE has witnessed a 1.70% gain, while BONE has experienced a 2.87% drop, as documented by CoinMarketCap.

Simultaneously, the burn rate of another well-known token, SHIB, has been steadily increasing. The latest hourly SHIB update reveals that 3,034,309,519 tokens were burned over the past day, signifying a staggering increase of 26,450.21%. This surge follows a drop in the burn rate during the previous week, which experienced a 70% decrease.

Despite the volatility in token values and burn rates, the enhanced accessibility of tokens like BONE and BABYDOGE for a broader range of investors is a favorable development for the overall expansion and progression of the cryptocurrency market. As these tokens continue to establish their presence on multiple platforms, they are heightening their visibility and accessibility for investors around the globe. This could potentially translate into increased liquidity and heightened price activity in the marketplace.

However, it is crucial to acknowledge that the content presented here represents the perspective of the author and is influenced by market conditions. Always perform thorough market research before deciding to invest in cryptocurrencies, as neither the author nor the publication assumes any responsibility for personal financial losses.

Source: Coingape

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