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Sunday, July 21, 2024

Shiba Inu’s BONE Spikes 10% After This Popular Exchange Adds Support to Shibarium

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TL;DR

  • A well-known crypto exchange allowed customers to purchase and send BONE tokens to Shibarium through its platform.
  • BONE’s price experienced a notable increase following the disclosure.


Shibarium’s Marketing Strategist, going by the handle LUCIE on X (formerly known as Twitter), praised the crypto exchange Gate.io for supporting the layer-2 blockchain solution. Users are now allowed to purchase and send BONE tokens to Shibarium via the platform.

BONE (the governance token of Shiba Inu’s decentralized exchange ShibaSwap) reacted positively to the news, with its price surging by over 10% on a daily basis and reaching almost $0.70. It slightly retraced in the following hours to its current level of $0.66 (per CoinGecko’s data).

BONE Price, Source: CoinGecko

Shibarium has also witnessed some resurgence after Gate.io’s interaction. Daily transactions on the network climbed to almost 2.5 million: the highest figure in a week.

Shibarium officially saw the light of day in August last year, blasting through countless milestones since then. As CryptoPotato recently reported, total transactions surpassed 250 million, while wallet addresses are inching toward 1.4 million.

Shiba Inu’s scaling solution is designed to support the meme coin’s ecosystem and elevate it above its rivals by lowering transaction fees and improving speed. Those curious to learn more about the feature could take a look at our video below:

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