BONE Soars as Shibarium L2 Hits 50,000 Wallets on Restart

  • Shibarium L2 relaunched and can now be publicly tracked.
  • Gas fee token $BONE grows as rival $PEPE drops by 20%.
  • Two extra validators and a 1500% scale rise speed up the L2.

Shibarium mainnet tweaks scrupulously carried out by the Shibarium devs over the last few days seem to have paid off. The restarted Shibarium Layer-2 mainnet is publicly available again and has registered over 50,000 crypto wallets.

Smoothly Running Shibarium Awakens BONE

Indeed, the official Shibarium blockchain explorer has resumed tracking blockchain activity after a week’s long pause. And so, August 24th, 2023, was marked with a colossal amount of 100,905 transactions on the Layer-2 mainnet.

On top of that, the average block production speed seems to be back to normal – five seconds at the time of this publication. To compare, during Shibarium’s hiccups with stuck $1.8M of ETH and BONE on launch, this metric leaned towards five minutes.

These positive changes come after several Shibarium scaling blog messages by Shytoshi Kusama and the dedicated Shibarium developer team. After consulting with Alchemy blockchain equipment providers, Kusama increased scaling by 1500%, along with two new validators.

However, this didn’t reflect on Shiba Inu’s price. The main token of the Shiba Inu Ecosystem is currently changing hands at $0.00000808 with a 2.2% decline in the last 24 hours, according to CoinGecko. The technical implications on the on-chain signals turned bearish, with a slight drop in large transactions and net network growth.

On the Flipside

  • Shibarium’s official gas fee and governance token, Bone ShibaSwap (BONE), reacted positively to the developments of the Layer-2 mainnet. 
  • $BONE grew by 6.6% to trade at $1.44, totaling the weekly gains to 15.7%, and occupies the #102 spot by global crypto market cap.

Why This Matters

Shibarium Layer-2 mainnet delivers new scaling opportunities for a vast community known as the SHIB Army.

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