Anika Begay
The Shiba Inu team is celebrating another milestone by adding a new payment method to the Shibarium network. This time, the team is celebrating the addition of card payments for BONE transactions on the Ethereum Layer 2 network, making it one step easier for investors to get involved in the burgeoning Shiba Inu community.
Buy BONE tokens with credit cards
In a post on X (formerly Twitter), Shiba Inu’s marketing manager, LUCIE, revealed a major development for the Shibarium ecosystem. According to the post, investors who want to invest in BONE, the utility token for the Shibarium Layer 2 network, can now purchase the coin directly using their cards.
This development means that Shibarium network users will no longer have to go through the arduous bridging process to get their BONE tokens. They can now purchase the coin directly and use it to transact on the Ethereum Layer 2 network.
Tired of building bridges?
Now you can buy $BONE ON #Shibario directly with your card 😉 photo.twitter.com/GAoy1Ilqep
— Lucie (@LucieSHIB) August 13, 2024
The announcement was well received by the community, with many praising the Shiba Inu team for their efforts. Community members even started using the service. A community member who goes by the name @sand_ShibArmy posted a screenshot of a completed transaction where he purchased BONE tokens using his card.
“Successfully tested, 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 level up!” Post X read.
Shiba Inu Shibario with adoption
While recent developments are positive for the Shibarium network, it has continued to struggle with adoption. It remains one of the worst performing Ethereum Layer 2 networks, with a paltry total value locked (TVL) of $1.25 million compared to the hundreds of millions and billions of dollars in TVL logged by competitors like Arbitrum and Polygon.
It continues to see clear declines in key metrics. One such case is the decline in daily active accounts to just 87 wallets per day. Compared to its competitors who see hundreds of thousands of daily transactions, the Shibarium network has dropped to just 768 transactions per day.
On average, 2 new contracts are released on the network every day, which shows a complete lack of interest from developers in this blockchain. New blocks produced have also seen a decline of over 60%, falling below 6,000 at the time of writing.
In terms of price, the new development has not brought any positive changes. CoinMarketCap data shows that BONE token has dropped nearly 3% over the past day, trading at $0.4178, bringing its fully diluted market cap to $104 million.
Featured image created with Dall.E, chart from Tradingview.com
