In the Shiba Inu ecosystem, BONE, a lesser player, fared wonderfully. A sizable portion of the sector has been negatively harmed by the protracted bear market. Adoption, though, is not much impacted by this.
Well-known websites continue to use crypto assets despite their decreasing value. BONE succeeded successfully despite being a little player in the Shiba Inu ecology. Fans and investors in the Shiba Inu (SHIB) project are anticipating the launch of Shibarium, the layer 2 network.
Due to development issues, the launch's anticipated Q3 release date was postponed. However, the business has promised customers that Shibarium would be available by the end of 2022. But things did not go as to plan.
In the previous week, BONE has increased 10% despite the market's turmoil. In the past 14 days, this token has increased 13.1%.
Shiba In's progeny token, BONE, will be essential in the upcoming layer 2. According to the team, SHIB layer 2 validators will use the token. In order to use the remaining 20 million BONE for Shibarium validators, BONE minting was stopped at 230 million (as opposed to the original plan of 250 million).
Shibarium's arrival has been eagerly awaited and sought after. Shibarium will contribute to lowering transaction costs while also accelerating transaction completion times. Shibarium will speed up the burn rate by adding more SHIB to deceased wallets once it is eventually made available to the general public. The business hasn't specified a timeframe for when Shibarium will be made accessible to the general public, though.
