In a strategic expansion of its DeFi offerings, OKX has integrated BONE, the governance token of ShibaSwap, into its On-Chain Earn program. This move enables users to participate in decentralized finance (DeFi) staking and Proof-of-Stake (PoS) mechanisms, unlocking new passive income streams.
Key Highlights of OKX’s BONE Integration
- DeFi & PoS Staking: Users can now stake BONE to earn rewards through OKX’s platform.
- Whale Activity Surge: Following the announcement, BONE inflows spiked 858%, signaling strong institutional interest.
- Market Performance: BONE’s price rose 1.28% to $0.547882 (24-hour), though it remains 4.8% lower weekly.
👉 Discover how to stake BONE on OKX
Whale Accumulation and Price Trends
On-Chain Data Insights:
- Whale holdings surged from 671,970 BONE (Feb 3) to 5.09M BONE (Feb 4), per IntoTheBlock.
- Experts interpret this as long-term accumulation, with whales buying post-correction.
Price Action:
- BONE briefly hit $0.567** (Feb 4) but struggles to reclaim its December high of **$0.972.
- Range-bound between $0.513–$0.567, indicating consolidation.
Shibarium Network Growth
The Shibarium network (BONE’s parent ecosystem) shows robust activity:
- 335.419M transactions total.
- 1.437M BONE transfers recorded.
- New accounts grew 254%, reflecting rising adoption.
👉 Explore Shibarium’s latest stats
FAQ Section
Q: How does OKX’s On-Chain Earn program work with BONE?
A: Users stake BONE to earn rewards via DeFi protocols or PoS mechanisms, similar to traditional yield farming.
Q: Why did whale activity spike after OKX’s announcement?
A: Institutional investors likely view BONE as undervalued, leveraging OKX’s platform for strategic accumulation.
Q: What’s next for BONE’s price?
A: If whale demand persists and Shibarium adoption grows, BONE could break its current range, targeting $0.60–$0.70.
Final Thoughts
OKX’s integration of BONE underscores the exchange’s commitment to DeFi innovation. With rising whale interest and Shibarium’s expansion, BONE is poised for potential upside. However, traders should monitor market sentiment and network metrics for confirmation.
For more crypto insights, visit OKX’s official resources.
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