The Shiba Inu ecosystem token, BONE, has shown strong momentum during today's crypto market trading session. As of now, BONE is trading at plus 18% relative to its opening price, at one point showing even more than 24% growth. So far, BONE is trading at $1.5 per token, which is 53.7% less than the all-time high of $3.24.
BONE price reacts to Shibarium news
The reason for BONE's impressive price action was probably the positive news regarding long-awaited Layer-2 EVM protocol Shibarium. As reported by U.Today citing a lead developer at Shiba Inu, the solution is almost ready and the development team cannot wait to show the beta version to all SHIB community enthusiasts.
BONE will become the means of payment for gas in Shibarium which, together with its limited supply and small presence on large centralized crypto platforms, leads to regular pumps of its price. By comparison, according to CoinMarketCap, out of BONE's current trading volume of $27.75 million, $15.8 million comes from decentralized exchanges.
However, Shibarium will not be released yet, although the developers assure us it is ready. Soon, according to Shytoshi Kusama, the public will see a series of publications explaining the details and essence of Shibarium, and then the beta version of the protocol should see the light of day.