Shiba Inu’s K9 Finance partnership-born LSD token, KNINE, gained traction today as BitMart announced plans to list it.
Today, April 2, a notable member of the Shiba crypto community announced an imminent listing for KNINE, an LSD (liquid staking derivative) token associated with Shiba Inus.Â
As a result, the token attracted considerable investor interest.
The renowned crypto trading platform disclosed in a recent post on X that it intends to list the KNINE token on its platform and begin trading today, in addition to extending support for the token.
Moreover, the partnership between Shiba Inu and K9 Finance, a liquid staking derivative (LSD) platform for the Shibarium network, produced the KNINE token.
However, its objective is to promote and facilitate DeFi (decentralized finance) via Shibarium, the layer two solution of Shiba Inu.
BitMart To List KNINE
SHIB Knight has reported that BitMart is preparing to list the KNINE token on its platform at 15:00 UTC today, April 2nd.
Concurrently, at 3:00 PM UTC today, trading for the trading pair KNINE/USDT is scheduled to commence. This listing is scheduled to occur on the platform.
This signifies an essential achievement for the KNINE LSD token, which has steadily progressed in its cryptographic endeavors since its recent entry into the crypto industry.
Meanwhile, there is widespread interest among crypto market enthusiasts in the token, as its price has dropped significantly today, contrasting with the token’s optimistic listing news.
Notably, as has been observed previously, the price movement of cryptocurrencies after their listing histories on exchanges is quite turbulent.
Numerous cryptocurrencies, including Blur, DYM, and others, experienced extraordinary rallies after their listings, whereas tokens such as RONIN experienced an abrupt drop.
This resulted in widespread speculation over KNINE’s future price action, as the LSD token appears to be preparing for a decline since the listing news surfaced on the market.
KNINE Dips
At the time of writing, the price of the KNINE token has dipped 8.24% in the past 24 hours and is currently trading at $0.00009063.
As a result, SHIB’s partner token gained a bearish tint today, in contrast to the optimistic sentiments that arose in response to the listing announcement.
However, with BitMart’s support for KNINE’s listing, crypto market enthusiasts anticipate a more moderate impact from the token in the future.
Meanwhile, KNINE’s drop today looks consistent with the overall slump in Shiba Inu since SHIB’s stock also fell significantly today.
The token Shiba Inu last traded at $0.00002692 with a 10.89% decline over the past 24 hours; this contributed to conjecture regarding forthcoming price action shifts.
