Bitrabo Editorial
The Shiba Inu team achieved a new milestone by enabling card payments for BONE transactions on the Shibarium network. This enhancement simplifies the process for investors to join the growing Shiba Inu community by allowing them to purchase BONE tokens directly.
Purchase BONE Tokens Using Credit Cards
In a recent X (formerly Twitter) post, LUCIE, the marketing lead for Shiba Inu, announced a significant update to the Shibarium ecosystem. Investors interested in BONE, the utility token for the Shibarium Layer 2 network, can now conveniently buy the coin using their credit cards.
This advancement eliminates the need for users on the Shibarium network to undergo the complex bridging process to acquire BONE tokens. Instead, they can directly purchase the coin and leverage it for transactions on the Ethereum Layer 2 network.
Tired of bridging?
Now you can buy $BONE on #Shibarium directly with your card pic.twitter.com/GAoy1Ilqep
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) August 13, 2024
The community responded positively to the announcement, with users commending the Shiba Inu team for this progress. One community member, @sand_ShibArmy, shared a screenshot of a successful transaction where they purchased BONE tokens using their 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!” read the X post.
Shiba Inu’s Shibarium Facing Adoption Challenges
Despite the recent positive development, Shibarium network has been struggling with adoption. It lags behind other Ethereum Layer 2 networks with only $1.25 million in Total Value Locked (TVL) while competitors like Arbitrum and Polygon boast in the hundreds of millions and billions of dollars in TVL.
The network continues to witness declines in essential metrics, with daily active accounts dropping to just 87 wallets per day. In contrast, competitors attract hundreds of thousands of daily transactions, whereas Shibarium network activity has dwindled to 768 transactions per day.
The network sees an average of 2 new contracts deployed daily, highlighting the lack of interest from developers. Additionally, new blocks produced experienced a significant decline of over 60%, falling below 6,000 at the time of reporting.
On the price front, the recent development did not result in a positive impact. CoinMarketCap data shows that the BONE token decreased by nearly 3% in the last day, trading at $0.4178, with its fully diluted market cap at $104 million.