Shiba Inu’s Governance token, Bone ShibaSwap (BONE) emerged as the top traded token among the 5000 largest ETH Whales in the past 24 hours.
Ethereum (ETH) investors begin to take notice of Bone ShibaSwap, as the upcoming Shibarium Layer 2 solution is gaining traction even before its release.
According to WhaleStats, a leading blockchain tracking platform, Bone ShibaSwap has become the most actively traded token among the top 5000 largest holders of Ethereum (ETH), also known as “whales”, over the past 24 hours.
JUST IN: $BONE @shibtoken now on top 10 by trading volume among 5000 biggest #ETH whales in the last 24hrs 🐳
Peep the top 100 whales here: https://t.co/kOhHps8XBB
(and hodl $BBW to see data for the top 5000!)#BONE #whalestats #babywhale #BBW pic.twitter.com/7ro9HZBRx2
— WhaleStats (tracking crypto whales) (@WhaleStats) January 27, 2023
This increase in trading activity comes as the upcoming Shibarium – Layer 2 solution, which is set to improve the performance and scalability of the Shiba Inu Ecosystem. Shibarium is gaining traction and anticipation from market participants even before its official launch. The BONE token will serve as the “native gas token” (the primary means of paying for transactions) on the Shibarium network. Users will be required to use BONE to execute any action or transaction on the platform.
Additionally, Estonia-based cryptocurrency wallet provider, Atomic, has announced that it will add support for the upcoming Shibarium – Layer 2 protocol shortly after its launch.