The soon-to-launch Shibarium blockchain, the expected layer-2 upgrade of the Shiba Inu network, is selecting BONE for its utility token to use for blockchain transaction fees and for other activities.
The token shot up more than 40% in the past week on the news.
According to the Shibarium project,
“This is to confirm and validate, from us, the official source, that BONE is and remains the only token selected for gas fees and use. No other tokens will be necessary to operate within the protocol.
Furthermore, and to make it strictly clear: Shibarium has been developed for SHIB token and not for the sake of other projects who claim ownership or speculation surrounding its operability dependency on any other tokens.
This layer belongs to the community and its solid foundation to innovate while evolving SHIB as an Ecosystem. It will always encompass support for Shiba Inu and its growth.”
The price of BONE rose from a low of $0.779 on December 29, 2022, to a high of $1.11 on January 5th, an increase of about 42.5%.
At time of writing, BONE is changing hands for $1.13.
It’s unclear when the Shibarium network will actually launch, but it is excepted to launch soon.
Says a Shiba Inu developer known as Trophias,
“As for Shibarium… we understand some may be upset as you were expecting an update on the much anticipated Shibarium. Realistically, we can’t launch everything all at once. It needs to be done thoughtfully and carefully. We needed a solid place for information and more.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney