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Shibarium Beta Launch is Almost Ready, Confirms Shiba Inu Development Team

The Shiba Inu community is bracing for the anticipated launch of the Shibarium update, the network’s Layer-2 blockchain, following the announcement by the development team. The team revealed on its official Twitter handle some basic upgrade concepts before launch.

Bracing Up For Shibarium Launch

According to a January 16 post from the official Twitter account for the Shibarium blockchain, the team is on the verge of completing the preparation for the Shibarium Beta launch. Hence, the Shiba Inu community will experience the launch soon.

Meanwhile, the official Twitter account of the Shiba Inu core developer, Shytoshi Kusama, along with the ecosystem’s handle, has been dropping hints on the progress of the Shibarium launch since early January. In addition, the Shiba Inu team, in its official blog, revealed some of the fundamental concepts of the upcoming upgrade to the community.

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However, the team has yet to reveal a scheduled date for the Shibarium Beta. It did note that they are applying “finishing touches” for the launch. Furthermore, the Shibarium Layer-2 blockchain is expected to address the issue of scalability and performance difficulties associated with the current blockchain networks.

Additionally, to ensure the optimum function of the ecosystem, the SHIB ecosystem assets, BONE, and LEASH, will be the governance tokens for the Shibarium network. With the rapid evolution of Web3, the tokens will also have some upper hand in the NFT, metaverse, dApps, and gaming space.

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Meanwhile, validators and delegators are expected to play critical roles in the upcoming Shibarium ecosystem. The validators are to improve security by locking the BONE tokens and using the Heimdall Validator and Bor block producer modes to boost efficiency and productivity.

As revealed earlier, BONE will be the only token users can use to pay gas fees and reward validators and delegators within the Shibarium ecosystem.

Prices Of BONE And SHIB Reacts

Following the latest announcement, the price of SHIB spiked to almost 2.8% in the past 24 hours and approximately 20% within the last seven days. Shiba Inu currently trades at $0.00001038. Similarly, according to current on-chain data, the BONE price jumped by more than 12.4% in the same timeframe, with the token trading at $1.34.

It is worth noting that the latest price surge coincides with the activities of Ethereum whales, which accumulate billions of this meme token, making it their largest holding. Over the past week, Ethereum whales have been consistent in their accumulation spree.

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Reports indicate that billions of SHIB tokens have been transferred to various addresses owned by some top 100 ETH whales. Moreover, experts see the upturn of the broader crypto market as the main reason for the price of Shiba Inu and other crypto assets.

Following the release of the December consumer price index (CPI) report, the digital asset industry experienced a bullish rally for the first time in recent weeks.


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Bradley Nelson

Bradley Nelson is a US based cryptocurrency news writer for Tokenhell, he helps readers stay up to date with the latest trends and news from the blockchain and crypto world. Bradley has been a crypto enthusiast since 2018.

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