Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
In an astonishing turn of events, the Shiba Inu ecosystem is witnessing an unprecedented surge in on-chain transactions, with a focus on the BONE token. Recent data analysis reveals an astounding 370% increase in large transactions valued at $100,000 or more.
Reputed blockchain data provider IntoTheBlock has disclosed that substantial BONE transactions have surged by half a million dollars. This remarkable upswing translates into a whopping 370% increase, equivalent to roughly 704,930 BONE tokens.
Consequently, the daily large transaction volume has soared to 959,610 BONE tokens, or a staggering $691,260, marking a substantial surge in on-chain activity.
Price issues
Notably, this surge in on-chain transactions has occurred concurrently with a three-day decline in the price of the BONE token. Despite having experienced a remarkable 13% increase earlier this month, the token's price has been on a steady decline throughout the week, currently standing at a -9.2% decrease.
The explosive growth of large transactions within the Shiba Inu ecosystem underscores the enduring appeal and intrigue surrounding the BONE token, despite recent price fluctuations.
The SHIB community is closely monitoring current conjectures, eagerly anticipating the potential ramifications of this significant blockchain growth on the future of the BONE token.
Valeria Blokhina
Vladislav Sopov
