Shibarium, the Layer-2 network of Shiba Inu, has achieved significant milestones since its public relaunch. The blockchain explorer, ShibariumScan.io, now detects over 336,000 wallets and half a million transactions. This development has positively impacted the value of Bone ShibaSwap (BONE), Shibarium’s gas fee token, which has seen a 7% increase in price in one week.
After encountering temporary network issues on August 16th, Shibarium’s lead developer, Shytoshi Kusama, addressed the scaling problem by adding two additional validators and increasing scaling by 1,500%.
The upgrade has shown success so far, with Shibarium’s average block production time now at five seconds. Kusama also announced the upcoming release of Wrapped BONE (wBONE), a wrapped version of the gas fee token, in response to public demand.
In related news, popular cryptocurrency exchange BitMex has listed BONE on Futures with up to 33x leverage. Additionally, BitMex will list SHIB/USD and SHIB/USDT Quanto smart contracts. The price of SHIB has seen a 2.2% increase following the announcement.
Despite its recent uptrend, BONE, currently trading at $1.26, is yet to reclaim the upper-mid major support line at $1.50. Traders anticipate increasing scarcity of BONE over time as the SHIB Army voted to renounce the contract last year.
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