Shiba Inu Sees 22M BONE Staked on Shibarium As Expert Says 40% of BONE Supply Expected to Be Staked

Experts say 30 to 40% of BONE supply will be staked as 22 million BONE now delegated to Shibarium.

Shibarium, the layer-2 protocol of the Shiba Inu (SHIB) network, was recently introduced. Despite initial debates surrounding its launch, the network is witnessing an impressive surge in user adoption and asset locking.

Data from prominent DeFi aggregator DeFi Llama has revealed that Shibarium has already attracted a combined total of $1.36 million in locked assets, indicating rising interest in the Shiba Inu ecosystem.

IntroduceTheBugs, a pseudonymous SHIB community member, reports that the crypto enthusiasts delegated 22,001,212 (22 million) BONE tokens, valued at $27,721,527 ($27.72 million), to Shibarium. This amounts to 9.5656% of the total BONE supply.

Moreover, the crypto community has also demonstrated remarkable confidence in the Shiba Inu ecosystem by staking 17,488,499 (17.48 million) BONE tokens, equivalent to $22,035,509 ($22.03 million), on ShibaSwap decentralized exchange (DEX). This represents 7.6036% of the total BONE supply.

The combined total of assets locked on Shibarium and ShibaSwap DEX now stands at 39,489,711 (39.48 million) BONE tokens, with a valuation of $49,757,036 ($49.75 million). This staggering figure represents 17.1692% of the total BONE supply, which CoinMarketCap indicates stands at 230,003,023 (230 million) tokens.

Del Crxpto, a renowned crypto analyst and expert, has expressed optimism regarding Shibarium’s future. He believes that the Shiba Inu Community could eventually dedicate 30-40% of the total BONE token supply to staking, indicating that Shibarium’s ascent is far from over.

Prediction:

We will see 30-40% of the $BONE supply dedicated to staking.

— Del Crxpto (@DelCrxpto) August 31, 2023

As reported earlier by The Crypto Basic, Lucie, a prominent marketing specialist in the Shiba Inu community, revealed that Shibarium, a newly launched layer-2 network, is yielding more BONE rewards than Shibaswap.