- Shiba Inu’s BONE token has blasted past 190,000 holders as excitement builds for the Shibarium layer 2 launch.
- The token’s staking and transactions have also surged, with 22 million tokens now staked as investors prepare for Shibarium.
- Despite exploding adoption metrics, the token’s price has oddly declined recently.
Shiba Inu’s native token, BONE, has blasted past a major adoption milestone, topping 190,720 holders amid growing excitement for the upcoming Shibarium Layer 2 launch.
According to data from IntoTheBlock, the total number of addresses holding BONE has steadily climbed, recently reaching a record high of over 190,720.
This 50% increase in holders comes as anticipation builds for Shibarium, which will utilize the token as its gas token. The surge of new holders likely reflects investors stocking up on BONE coins to transact on Shibarium. At one point last week, BONE saw over 2,000 new holders added in a single day as momentum snowballed.
More BONE staked on Shibarium
In further proof of burgeoning activity, the amount of BONE staked on Shibarium has also exploded. Staking allows holders to help validate transactions on the network in return for rewards. Reports indicate the total token staked has swelled to 22 million this week, up significantly from 19 million at the start.
Additionally, Shibarium has now facilitated over 600,000 transactions and amassed nearly 450,000 registered wallet addresses.
Despite sensational growth in holders and network usage, BONE’s price has oddly declined recently. After peaking at $1.45 on August 25th, profit-taking has since dragged the token down 11% over the past week.
This divergence between adoption and price may present an opportunity for savvy investors ahead of the mainnet launch.
Shibarium’s long-awaited release promises to be a potential game-changer for BONE and the broader Shiba Inu ecosystem. If Layer 2 can deliver on its lofty goals, BONE’s adoption explosion may be just getting started.