One of Shiba Inu ecosystem tokens, BONE, is currently trending among Ethereum whales who are using it for smart contracts.
According to data from Whale Stats, BONE is the most used smart contract among the top 1000 Ethereum whales. The new interest can be linked to the sudden rise of the token’s value over the past week.
BONE is one of the three major tokens in the Shiba Inu ecosystem. The token has a total supply of 250 million and serves as the governance token for the Shiba Inu ecosystem.
However, only 230 million of the tokens will be circulated because the Shiba Inu community voted to cap BONE farming at 230 million minted tokens. This decision was to keep the remaining 20 million for Shibarium validators.
The token is currently trading for $1.47 after rising by about 20% in the past week. This is likely due to its recent listing on several exchanges, such as MEXC exchange, BlueBit, FCF Pay, and Switchere.
Dextools also listed the token, which is currently trending as the number one cryptocurrency on the platform as it trades against the Wrapped Ethereum.
It is likely that other platforms will also list it with time as interest in it continues to grow.
SHIB holders grow despite declining value
Meanwhile, Shiba Inu continues to experience a decline in its value as the market conditions weigh heavily on its price. It is down 5.6% in the last 24 hours and over 15% in the past two weeks.
Despite this, it is still the most held cryptocurrency by Ethereum whales apart from Ethereum as the number of Shib holders has steadily grown despite the market downturn.
The number of wallets holding SHIB grew by 110,00 in September and 35,302 in the last 7 days according to Crypteye.
For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here
Disclaimer
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Be the first to comment