Shiba Inu Introduces Card Payments for BONE Transactions
The Shiba Inu team has achieved another milestone by incorporating a new payment method into the Shibarium network. The latest development involves enabling card payments for BONE transactions on the Ethereum Layer 2 network, streamlining the process for investors looking to join the growing Shiba Inu community.
Making BONE Token Purchase Easier
In a recent announcement on X (formerly Twitter), LUCIE, the marketing lead at Shiba Inu, shared a significant update regarding the Shibarium ecosystem. Investors interested in acquiring BONE, the utility token for the Shibarium Layer 2 network, can now purchase the token directly using their credit cards.
- This advancement eliminates the need for users on the Shibarium network to undergo the complex bridging process to obtain BONE tokens.
- Individuals can now directly purchase the token and utilize it for transactions within the Ethereum Layer 2 network.
Tired of bridging?
Now you can buy BONE on Shibarium directly with your card
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— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) August 13, 2024
The community responded positively to this announcement, praising the Shiba Inu team for their dedication. Some community members have already started utilizing the new service, with one user sharing a successful transaction where they purchased BONE tokens using their credit card.
“Tested successfully, easy, fast, cheap! Faster and cheaper than buying eth on metamask! Now, #UseShibarium and load up your $bone! What are you waiting for, #ShibArmy? The best way to onboard!”
Shiba Inu’s Shibarium Struggles for Adoption
Despite the positive recent development, the Shibarium network is facing challenges with adoption. It currently ranks as one of the underperforming Ethereum Layer 2 networks, with Total Value Locked (TVL) standing at a mere $1.25 million compared to its competitors like Arbitrum and Polygon.
- The network has experienced declines in key metrics, such as daily active accounts, which have dropped to 87 wallets per day.
- While other networks see substantial daily transactions, the Shibarium network only manages 768 transactions daily.
- There is minimal developer interest evident by the deployment of an average of 2 new contracts daily.
Furthermore, there has been a significant decrease in new blocks produced, with a decline of over 60%, falling below 6,000 at the time of this writing.
In terms of price performance, the BONE token has not seen a positive impact from the recent development. Current data from CoinMarketCap indicates a nearly 3% decrease in the token’s value, trading at $0.4178 with a fully diluted market cap of $104 million.
Hot Take: Reflecting on Shibarium’s Challenges and BONE Token Performance
The Shiba Inu team’s introduction of card payments for BONE transactions represents a significant milestone for the community. However, challenges with Shibarium’s adoption and the BONE token’s performance underscore the need for further growth and development in the network.
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