In a significant gust of developments, Shiba Inu’s KNINE, an LSD (liquid staking derivative) token, nabbed significant investor attention today, April 2, as a prominent member of the Shiba crypto community spotlighted an imminent listing for the token. In a post shared by SHIB Knight on X, a renowned crypto trading platform recently revealed plans to extend support for the KNINE token, listing it on its platform and commencing trade for the same starting today.

KNINE is a token that results from Shiba Inu’s partnership with K9 Finance, a liquid staking derivative (LSD) platform for the Shibarium network. It aims to facilitate and boost DeFi (Decentralized finance) throughout Shibarium, Shiba Inu’s layer two solution.

BitMart To List KNINE

According to SHIB Knight’s post, BitMart is all set to list the KNINE token on its platform starting today, April 2, at 15:00 UTC. Aligning with this, the trading pair KNINE/USDT is all set to be listed on the platform, while trading for the same will commence today at 3:00 PM UTC.

This marks a pivotal achievement for the KNINE LSD token, as it continues to advance with its cryptographic venture following its recent inception into the crypto world. Meanwhile, crypto market enthusiasts appear to be extensively eyeing the token, as its price has slumped remarkably today, contrasting with the optimistic listing news for the token.

Intriguingly, as seen previously, cryptocurrencies face quite a turbulent price movement following their listing chronicles on exchanges. Cryptos like Blur, DYM, and many others rallied remarkably following their listings, whereas tokens such as RONIN noted a substantial plunge following its listing. This collectively birthed speculations over KNINE’s future price action, as following the listing news’ surfacing in the market, the LSD token appears to be facing a downturn.

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KNINE Dips

As of writing, the KNINE token’s price has dropped 8.24% in the past 24 hours and is currently trading at $0.00009063. This added a bearish tint to SHIB’s partner token today, contrasting optimistic sentiments birthed with the listing announcement. However, with BitMart extending support to KNINE with its listing, crypto market enthusiasts expect the token to take a cushioned effect ahead.

Meanwhile, KNINE’s plunge today also appears to align with the broader downtrend witnessed by Shiba Inu, as even SHIB’s price dipped notably today. Shiba Inu traded at $0.00002692 with a 10.89% drop in the token over the past 24 hours, adding up to speculations over future price action shifts.

Also Read: Crypto Airdrops To Invest In April 2024

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