Crypto:
30205
Bitcoin:
$68.542
% 1.82
BTC Dominance:
%54.1
% 0.32
Market Cap:
$2.48 T
% 1.89
Fear & Greed:
72 / 100
Bitcoin:
$ 68.542
BTC Dominance:
% 54.1
Market Cap:
$2.48 T

Shiba Inu Sees Historic Development! Eyes Turn to Shibarium, Down from 7 Days to 45 Minutes!

Shiba Inu Shibarium

Volume in Bone ShibaSwap token transactions has increased by 15% following the latest Shibarium bridge developments that triggered a significant decrease in BONE transfer time.

It was announced that Bone ShibaSwap token investors will be able to transfer their BONE assets in a record time of 45 minutes. This marks a significant step that reflects Shibarium’s approach to technological advancement. On the other hand, it also reflects the simplified transaction process.

According to data provided by the Shiba Inu development team working at TheShibDaily, users were faced with a seven-day waiting period to transfer their BONE tokens from Shibarium to the Ethereum network. During the week-long waiting period, BONE tokens would also bring a locking period aimed at extending the time for users to interact with the Layer-2 (L2) solution Shibarium.

This desired interaction period was considered a potential supporting force for the Bone ShibaSwap price.

The development could also be considered a bullish supporter on the Bone ShibaSwap price side, and it pointed to a strategic change in a period where interaction time was used to make an impact on the price.

Instead, the network prioritizes user experience, network efficiency, and ecosystem stability as potential market value factors for BONE.

Lucie Sasnikova, a well-known name who works as a Shibarium and Shiba ecosystem technology and marketing specialist, made a statement via X (formerly Twitter) to clarify this situation.

From now on, ecosystem participants will enjoy smoother processes for the comfort of community members and network residents.

The dominance of Shibarium L2 is also preparing to benefit from this rise among Decentralized Finance (DeFi) protocols.

READ:  $43 Million Crypto Ponzi Scheme: Idin Dalpour Arrested in US

According to data provided by DefiLlama, the Total Locked Value (TVL) seen on the Shibarium side increased by 17% in a five-day period, rising from $2.11 million on May 24 to $2.47 million as of the time of writing.

BONE Token Transfers

The Shibarium development team also states that this situation, when viewed in the context of the new system, will serve as a checkpoint for all BONE token exits from the Shibarium ecosystem. Under the new system:

BONE holders will be able to manage their assets more quickly.

Project developers can develop complex and urgent applications on the L2 chain.

According to the information obtained, this development will only apply to existing transfers. In other words, to interpret it more clearly, tokens that entered processing before the upgrade will continue to be subject to a seven-day wait. The BONE price continues to trade at $0.6926 after a 1.6% drop in the last 24 hours.

Rate this post

Leave a Reply

Your email address will not be published. Required fields are marked *