The price of BONE soars by 20% amid the restart of Shibarium
Date: 2023-08-27 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
Over the past 7 days, the price of Shibaswap Bone (BONE) has skyrocketed by almost 20%. A surge in user interest in the second-level (L2) Shibarium network contributed to the sharp growth.
After an unsuccessful debut, Shibarium was successfully restarted and is currently running smoothly.
Shibarium restart increased network bandwidth
After launching on August 17th, Shibarium faced a congestion problem: due to the surge in activity, many investors found their funds stuck in a bridge.
Unable to cope with the influx of new users, the developers were forced to suspend Shibarium. In the following days, they set to work, strengthening her ability to handle high volumes of traffic.
On August 24, the team restarted the network, and the frozen funds began to flow to their intended destination.
Shibaswap Bone Transaction Volumes Continue to Grow
Following the successful relaunch of the Shibarium network, BONE transaction volume skyrocketed to almost 13,000. The number of new and daily active addresses also skyrocketed. According to Etherscan, over 90,000 crypto wallets currently hold the token.
The price of BONE, meanwhile, has risen by almost 20%, more than offsetting losses incurred during Shibarium's failed launch.
Interestingly, the positive news has hardly been reflected in the rest of the Shiba Inu ecosystem. Over the past week, the price of SHIB slipped 3.67%, while LEASH added only 4.27%.
