Shiba Inu’s Shibarium Attracts Massive BONE Staking

Shiba Inu’s layer-2 platform, Shibarium, has seen a significant uptick in staking activity, with more than 26 million BONE tokens now staked on the network.

The platform’s top validators include Unification, ShibArmy Asia, and ShibArmy Africa, among others, all boasting 100% uptime.

Staking involves delegating tokens to validator nodes, which are responsible for verifying transactions and maintaining the network’s integrity.

Validators are crucial to the stability and security of Shibarium, and their performance is closely monitored. In the early stages, becoming a validator requires a manual application and interview process to ensure the network is in secure hands.

To become a validator on Shibarium, individuals need to stake BONE tokens via contracts on the Ethereum mainnet. Rewards are then distributed proportionally to all stakers at every network checkpoint.

A 4% price dip

However, it’s worth noting that despite the surge in staking activity, the price of BONE tokens has experienced a 4% decline, according to data from CoinGecko. As of the latest update, the BONE ShibaSwap price stands at $0.925203, with a market cap of $212.7 million.

Shibarium nears 1.5 million transactions

Shibarium, the blockchain platform of Shiba Inu, is not just seeing a surge in staking activity but also in overall transactions.

The network has recorded nearly 1.5 million total transactions, with an average block time of 5.0 seconds.

Additionally, the platform boasts over 1.1 million wallet addresses and a daily transaction rate of 88.63K. These numbers indicate a robust and active network, further solidifying Shibarium’s growing influence in the crypto space.

Source