A new token slated to power the Shibarium Shiba Inu (SHIB) layer-2 ecosystem is leaping in price to start the new year.
Bone ShibaSwap (BONE), the utility token to be used for Shibarium’s transaction fees and other activities, is trading for $1.39 at time of writing, up 57% in the last two weeks, and 98% in the last month.
Shibarium developers made the announcement about BONE earlier this month.
According to the Shibarium project,
“This is to confirm and validate, from us, the official source, that BONE is and remains the only token selected for gas fees and use. No other tokens will be necessary to operate within the protocol.”
In anticipation of the Shiba Inu layer-2 network upgrade, Ethereum (ETH) whales have been accumulating SHIB at