Canine Comeback? KNINE Gets Listed On Major Exchange After 50% Drop
Canine Comeback? KNINE Brushes Off 50% Loss, Gets Listed On Major Exchange Shiba Inu’s Layer-2 blockchain, Shibarium, is experiencing a shot of optimism amidst a bearish crypto market. K9 Finance (KNINE), a project aiming to become the go-to platform for liquid staking derivatives (LSD) on Shibarium, has secured a listing on BitMart, a major cryptocurrency exchange. This move, coupled with the upcoming launch of the K9 Finance dApp, is seen as a potential catalyst for growth within the Shibarium ecosystem. K9 Finance offers functionality similar to Lido Finance on Ethereum. Lido allows users to stake their Ethereum (ETH) while receiving Lido Staked Ether (stETH) which can be used for further DeFi activities. K9 Finance envisions a similar mechanism for Shibarium, enabling users to stake their tokens and receive a liquid derivative in return. This not only increases participation in the Shibarium network but also unlocks additional utility for staked assets. Official $SHIB Partner $KNINE will list on @BitMartExchange Tomorrow. Congrats on the new listing. Let’s Moon Together! 🔥🚀 https://t.co/rHApwjJMAu — $SHIB KNIGHT (@army_shiba) April 1, 2024 KNINE Price At A Glance At the time of writing, the price of the KNINE token has decreased by 9% over the previous 24 hours and is worth $0.00009063. As a result, SHIB’s companion token gained a bearish hue today, in contrast to the optimistic sentiments that arose in response to the listing announcement. Despite securing a significant exchange listing, the K9 Finance DAO (KNINE) token experienced a sharp decline of 50% over the past 14 days, plunging 75% from its all-time high of $0.0003468 on March 10, 2024. KNINE’s drop today looks to be consistent with the overall slump in Shiba Inu, since SHIB’s stock also fell significantly on Wednesday. Shiba Inu traded at $0.00002692, down nearly 11% in the last 24 hours, fueling speculation about potential price swings. Total crypto market cap at $2.4 trillion on the daily chart: TradingView.com The listing on BitMart, the 44th largest crypto exchange by monthly traffic, is a significant win for K9 Finance. It provides increased exposure and liquidity for the KNINE token, potentially attracting new investors and users to the Shibarium ecosystem. Major Developments Ahead Adding further fuel to the fire, K9 Finance recently unveiled a sneak peek of its upcoming dApp. The platform will reportedly utilize Shiba Inu’s BONE token for validator rewards. Users who stake their BONE on K9 Finance will receive a wrapped version (knBONE) while their original tokens remain locked, allowing them to participate in governance and earn rewards simultaneously. This integration with BONE creates a symbiotic relationship between the two projects and incentivizes participation within the wider Shibarium ecosystem. While K9 Finance paints a promising picture for Shibarium’s future, some factors require consideration. The current crypto market slump could lead to price volatility for KNINE. Additionally, the overall success of K9 Finance hinges on the wider adoption of Shibarium itself. As a relatively new Layer-2 solution, Shibarium needs to attract developers and users to establish a robust ecosystem. Featured image from Pexels, chart from TradingView Christian Encila They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.