Crypto news: the Bone token within the Shiba Inu ecosystem sees a 10% increase at the same time as developers take a crucial step to improve security.
It is worth recalling that Bone represents one of three tokens, the other two being treat (TREAT) and leash (LEASH), used for both tax transactions and participation in governance decisions on the Shibarium blockchain.
Crypto news: changes in the Shiba Inu ecosystem lead to more optimism
As anticipated, the Shiba Inu Ecosystem BONE token (SHIB) has recently seen a notable increase of about 10% over the past 24 hours, standing out among crypto markets that are otherwise showing a rather steady pace.
Specifically, in the early hours of Wednesday, the price of BONE rose to 90 cents during the Asian sessions. This token currently has a market capitalization of $233 million.
Traders’ confidence seems to have been bolstered by the reassurances provided by the developers, who stated that they have completely abandoned the BONE token distribution contract, thus greatly improving its security.
In addition, trading volumes associated with these tokens have increased by more than $3 million over what was recorded on the previous Monday.
In the context of cryptocurrencies, the act of giving up a smart contract implies that the creator of the contract loses all control over it. This aspect provides investors with a sense of security as the contract can no longer be subject to modification or update and is protected from interference by the contract creator.
As anticipated above, it is important to note that BONE is one of the three main tokens, along with TREAT and LEASH, within the Shiba Inu ecosystem.
These tokens serve a dual purpose: they are used both to make payments and to participate in governance decisions on the Shibarium blockchain, the release of which occurred in August due to Shiba developers.
Meanwhile, another token called CAL, originally created as part of the BONE waiver operation, quickly attracted the attention of activist investors. CAL initially reached a market capitalization of $10 million, then suffered a 50% correction from its highs on Monday.
Shiba Inu: explosive growth in number of addresses to 3.6 million
The crypto world is witnessing a surprising new milestone with Shiba Inu, the dog-inspired digital currency, attracting attention thanks to a major historical achievement.
Specifically, total Shiba Inu addresses recently reached a record 3.6 million, demonstrating extraordinary growth despite recent price fluctuations. This success underscores the appeal and resilience of this canine-themed token.
According to data provided by IntoTheBlock, Shiba Inu has not only maintained its user base, but has also seen a significant increase in the number of addresses with a positive balance.
Currently, there are as many as 1.25 million addresses with a balance in Shiba Inu, a clear sign of the continued popularity of this cryptocurrency.
The total number of addresses with a positive balance is often considered a crucial indicator for assessing investor sentiment and can anticipate short-term price changes.
In the long run, this metric reflects continued interest in holding a specific cryptocurrency, and an increase in the number of addresses with a positive balance is generally seen as a positive sign, indicating a solid and growing user base.
Despite recent market fluctuations, the price of Shiba Inu, which is currently around $0.00000724, demonstrates its resilience with a slight decline of 0.05 percent in the past 24 hours, maintaining investor interest and its impact in the cryptocurrency world.
Shibarium, the layer-2 platform, also reaches important milestones
Shiba Inu’s Layer-2 platform, known as Shibarium, is also showing significant growth in addition to its main cryptocurrency.
Not surprisingly, Shibarium’s account growth indicator, which represents the total accumulated accounts over time, recently hit its all-time high, reaching 26,112. This extraordinary achievement underscores a steadily expanding user base and growing interest in the platform.
In addition, Shibarium is setting new records for the cumulative number of contracts for the period, which stands at 10,448, and verified contracts, which reach 474. These figures testify to the wide adoption and increase in the use of the platform, both by developers and users.
Platform metrics show a steady upward trend, with the number of wallet addresses reaching 1,250,780 and the total number of blocks exceeding 834,115.
In particular, the total number of transactions on the Shibarium network reached an impressive total of 3,161,171, confirming its position as a growing and dynamic Layer-2 solution in the Shiba Inu ecosystem.
Source: https://en.cryptonomist.ch/2023/09/27/crypto-10-rally-shiba-inu-ecosystems-bone-token/