• Shibarium is currently testing its Layer-2 blockchain solution, with over 9 million transactions performed on the ‚Puppynet‘ testnet.
• Bone ShibaSwap’s (BONE) on-chain signals have turned bearish as the token retests key support levels.
• Despite a recent downturn, BONE has scored triple-digit gains since last year due to increased exposure from major crypto exchanges.
Shibarium Testnet Reaches 10 Million Transactions
Shibarium is in the process of finalizing its Layer-2 blockchain solution prior to mainnet launch. The ‚Puppynet‘ testnet has achieved two milestones – reaching over nine million transactions and wallet addresses surpassing 15 million marks.
BONE Price Retests Key Support Levels
Bone ShibaSwap (BONE) has been consolidating in the daily charts, losing two consecutive long-term support lines on May 1st and May 9th, 2023. At press time, $BONE trades at $0.765559 according to CoinGecko with a 0.7% daily downturn and 22.3% drop in the last 30 days. On-chain analytics show three bearish signals for BONE: net network growth, holders making a profit and large transactions have dropped significantly while concentration remains neutral.
Increased Exposure Boosts BONE Performance
Despite the recent downturn, BONE still scored triple-digit gains since last year due to increased exposure from major crypto exchanges such as Huobi and Crypto.com listing Shiba Inu’s alternative tokens including BONE itself.
What’s Next For Shibarium?
Unification xFund developers are working hard on Shibarium’s mainnet launch which will be accompanied by increased utility of $BONE as gas fee token for the platform’s transactions once it goes live.
The ongoing hype around Shibarium is increasing awareness of Bone ShibaSwap (BONE) and contributing to its price performance despite recent drops in value.. As we approach mainnet launch more features will be added to increase usability of both SHIBARUM and BNE tokens thus setting up a potentially bright future for those invested in this project