Shiba Inu executive Lucie recently revealed that layer 2 blockchain Shibarium is about to make significant progress.
Shiba Inu’s marketing executive Lucie made a major announcement on Tuesday about Shibarium, the layer 2 blockchain for the SHIB ecosystem. The marketing executive said that “in less than 9 days, something big is going to happen on layer 2,” which has caused a stir in the industry. This statement by the executive is mainly attributed to BONE, which is an important component of the layer 2 network.
Shiba Inu Exec Spotlights on Shibarium to Unlock knBONE
Lucie revealed in an official X post on September 10 that a large number of BONE locked in validators will be unlocked as knBONE on Shibarium soon. She added: “This unlocking will inject a lot of liquidity into Shibarium, which is a great opportunity for developers, projects and builders within the Shib community.”
Despite speculation among Shiba Inu community participants about the massive unlock and its purpose, Lucie revealed that there are some important ways to take advantage of this development. Users can farm their knBONE with the help of stake pools such as K9 Finance, a key player in L2, while they can also use it in the wider ecosystem.
First, developers should focus on creating knBONE staking pools, accepting knBONE, and integrating it into the NFT space. Lucie added in her post: “With the upcoming release of knBONE, Shibarium will see a wave of activity as users look to stake or spend their tokens.”
As of the time of reporting, the daily transaction volume on the Layer 2 network is estimated at 1.89K transactions. Meanwhile, the ecosystem’s native token SHIB is trading in the green, sparking investor curiosity as the development continues.
Notably, the meme coin’s ecosystem has also recently witnessed the launch of the ShibDev portal, further solidifying investors’ optimism about the future.
Furthermore, the continuous Shiba Inu burning has also added fuel to the optimism of the token in recent days.
SHIB price surges
At press time, Shiba Inu Coin is trading at $0.00001351, up nearly 2.5%. The coin’s intraday low and high were $0.00001301 and $0.00001371, respectively. This upward movement is largely in line with today’s broader market trends, and the above developments have drawn further attention to the asset.
Coinglass data today showed that the token's futures OI surged nearly 8% to $25.66 million. In addition, derivatives trading volume surged 57% to $48.13 million, highlighting investors' growing interest in the asset. These data solidify the bullish sentiment around the dog-themed meme token.
Meanwhile, CoinGape Media recently analyzed the price of Shiba Inu, showing that the token reflects bullish dynamics given the return of Keith Gill, aka Roaring Kitty, on social media. Overall, the token is currently riding a wave of optimism on the broader market.
