Shiba Inu: Shibarium Update Increases $BONE Price

Impact of the bear market had sizeable effects on the crypto industry.
Over the past week the value of the $BONE Hhas increased by 10%.
Speculation about the release of Shibarium’s beta version has grown.

The protracted bear market had a significant impact on a sizable portion of the industry. Adoption, however, was not impacted in any way by this. Not even the plummeting value of cryptocurrencies could stop prominent platforms from adopting the practice of incorporating the new currency. A minor player in the Shiba Inu ecosystem, BONE, was putting on a respectable performance.

The Shib community, on the other hand, can’t wait for the Layer two (L2) project Shibarium to come out. Many people thought it would happen by the end of the second quarter of this year. Since several influential members of the SHIB community posted animated pictures of countdown clocks on social media, the price of Shiba Inu and its associated tokens has begun to rise.

Discussions and rumors in the Shiba Inu community have centered on Shibarium, a Layer 2 ecosystem protocol. The result is that the BONE price is now fluctuating more frequently.

Over the past week and a half, the value of the token used in the Shiba Inu ecosystem, Bone ShibaSwap ($BONE), has increased by 10%. The price of a $BONE token has risen from $0.8764 to $0.9615.

BONE/USD 7-day price chart (source: CoinMarketCap)

In addition, on December 22, the day the price of $BONE started to rise, it was one of the most frequently purchased assets by the top 500 holders of Ethereum, as recorded by WhaleStats. Additionally, trading activity on BONE was higher on December 18 and 19. That was triple and octuple the norm, respectively.

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Munene Kelvin

Kelvin enjoys writing about cryptocurrency and blockchain. He started blogging in 2019 and switched to cryptocurrency in 2020. Kelvin is interested in technology, football, chess, and Defi. He wants decentralization to benefit everyone on the planet.