Shibarium TVL Up 17% as BONE Transfer Time Drops to 45 Min

by

As a seasoned crypto investor with a deep interest in the Shiba Inu ecosystem, I am thrilled to witness the recent progress of Shibarium’s Layer-2 blockchain solution. The improvements to the Shibarium bridge have significantly enhanced my experience as a user.

Following enhancements to the Shibarium bridge, the total value locked in Shibarium’s Layer-2 blockchain solution experienced a growth of 17%. Meanwhile, trading volume for the Bone ShibaSwap token saw a significant surge of 15% as well. These developments resulted in noticeably reduced transfer times for BONE tokens.

Prior to this update, it took users a week to move BONE tokens from Shibarium to Ethereum. This lengthy process was intentionally put in place to motivate engagement with Shibarium’s Layer 2 solution. However, the waiting period has been significantly reduced to only 45 minutes now.

As an analyst, I’m thrilled to share that the wait time between Shibarium and Ethereum has been significantly reduced. Instead of enduring a seven-day bridge process, you can now expect it to take around 45 minutes. #SHIBARMY, get ready for a noticeably quicker and more efficient experience! 🚀— Shibarium Network (@ShibariumNet) May 29, 2024

As a dedicated researcher following the latest developments in the cryptocurrency world, I’m excited to share that the Shiba Inu team has recently announced on TheShibDaily their plans for Shibarium. They are committed to pushing technological boundaries and prioritizing an exceptional user experience with this upcoming upgrade. Based on past trends, I anticipate these enhancements will significantly increase the value of BONE by improving efficiency and stability.

“Shibarium announced that the upgrade will significantly expedite token transfers of BONE, enhancing your navigation through the Shibarium environment with improved speed and flexibility.”

The enhancements will result in more streamlined procedures and greater comfort for users across the platform. At the same time, developers will have the ability to construct projects on the L2 chain with increased agility.

I’ve noticed an impressive surge in the Total Value Locked (TVL) of the Shibarium network, which has grown by 17% within just five days, reaching a significant milestone of $2.47 million. Additionally, BONE, the native token of this ecosystem, experienced a noteworthy price increase of almost 2% over the past 24 hours. Currently, BONE trades at an appealing price point of $0.6865, fueled by heightened trading activity.

The improvements to the Shibarium bridge significantly reduce the time it takes to transfer BONE tokens and contribute to increasing total value locked (TVL) and trading volume. This is an essential advancement that moves the Shiba Inu ecosystem closer to greater efficiency and value generation.

Read More

2024-05-30 08:06