Shibarium Launch Proves Positive As Shiba Inu-Based BONE Celebrates New Milestone
26 Agosto 2023 - 3:00PM
NEWSBTC
Following its temporary shutdown, Shibarium has made a comeback and
relaunched. This release of the layer 2 blockchain has pushed the
BONE price upwards, recording new milestones for the token.
Shibarium Relaunch Ignites Bullish Trend For BONE Bone Shibaswap
(BONE) has recorded a massive price increase of about 17% in the
last 24 hours after Shibarium made an official relaunch and became
open to the public on Thursday, August 24. The number of BONE
addresses has also increased to 90,151 while SHIB burn rates are
running high. Related Reading: Exodus Of 30,000 BTC To Cold Wallets
Spells Good News For Bitcoin Price Currently, the BONE token is
valued at $1.40 with a 24-hour trading volume of over $11 million,
according to CoinMarketCap. The shift in the price has also proved
fortunate for a majority of BONE token holders. Reports
reveal that 68% of BONE holders are in a very profitable position
and are likely to reap massive gains. In contrast, 19% are
currently in the red, struggling with some losses. The remaining
13% of BONE holders have found themselves at a point of stability,
experiencing no profits or losses. 68% of holders sitting in
profit | Source: IntoTheBlock Shibarium’s Lead Developer, Shytoshi
Kusama had previously described plans of adding new features and
tweaks to prevent another suspension. He also stated that the Shiba
Inu team plans to integrate a Self-Sovereign Identity (SSI) into
Shibarium. Additionally, he said that the recently launched
layer 2 blockchain has finally achieved a state of stability,
ensuring users gain all the benefits of the mainnet including more
options for BONE staking. “After two days of testing and
tweaking parameters to achieve a ‘ready’ state, Shibarium is now
enhanced and optimized. Additional validators will go live, giving
even more options for you to stake your BONE,” Kusama said. SHIB
Community Embraces Shibarium Relaunch And Modifications The SHIB
army has been anticipating Shibarium’s release after the Ethereum
layer 2 solution got off to a rocky start. The Shibarium mainnet
halted its operations after its first launch and has been
undergoing reconfigurations and testing to bolster its
network. According to developers, the reason for the
network’s suspension was due to the high traffic and overwhelming
increase in adoption, with over 10 million new wallets registered
on the platform. However, Kusama had reassured the SHIB community,
stating that the mainnet was only going through a few tweaks and
would be up and running soon, stronger than it was in its previous
release. Shiba Inu’s price performance also declined slightly
following Shibarium’s temporary shutdown. But the cryptocurrency is
on a recovery trend presently and growing to be one of the
trendiest meme coins in the crypto space. Related Reading:
Shiba Inu Whale Buys 708 Billion SHIB, Sparks Speculation Of Price
Recovery The recent relaunch has pushed active addresses in the
Shibarium mainnet to over 50,000 and this figure is expected to
continue to rise. Lead developer Kusama has also vowed to increase
the layer 2 network’s capacity by 1,500%, improving its safety,
decentralization, and solidity. Recently, Shiba Inu has been
making new strides in the crypto space, expanding into new
geographical regions to facilitate better adoption. The meme coin
is now available to Brazilian merchants through Binance Pay, a
cryptocurrency payment technology supported by the Binance
exchange. Token price ranging at $1.3 following new milestone |
Source: BONEUSDT on Tradingview.com Featured image from BSC News,
chart from Tradingview.com
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