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The Shiba Inu team is celebrating yet another milestone as they add a new payment method on the Shibarium network. This time around, 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 be onboarded into the budding Shiba Inu community.
Buying BONE Tokens With Credit Cards
In an X (formerly Twitter) post, Shiba Inu marketing lead, LUCIE, revealed a major development for the Shibarium ecosystem. According to the post, investors who wish to invest in BONE, the utility token for the Shibarium Layer 2 network, can now buy the coin directly using their cards.
This development means that users of the Shibarium network will no longer have to go through the arduous process of bridging in order to get their BONE tokens. They are now able to buy the coin directly and use it to execute 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 announcement was received positively by the community, with many commending the Shiba Inu team for their efforts. Community members have even begun using the service. One community member who goes by @sand_ShibArmy posted a screenshot of a completed transaction where they bought 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 onramp!” The X post read.
Shiba Inu’s Shibarium With Adoption
While the recent development is positive for the Shibarium network, it has continued to struggle with adoption. It remains one of the worst-performing Ethereum Layer 2 network with a mere $1.25 million in Total Value Locked (TVL) compared to the hundreds of millions and billions of dollars in TVL recorded by competitors such as Arbitrum and Polygon.
It continues to record definite declines in major metrics. One of these instances is the daily active accounts falling to a mere 87 wallets per day. Compared to its competitors who see hundreds of thousands in daily transactions, the Shibarium network is down to only 768 transactions per day.
An average of 2 new contracts are deployed on the network daily, showing a complete lack of interest from developers in this blockchain. New blocks produced also saw an over 60% decline, dropping below 6,000 as of the time of writing.
On the price end of things, the new development has not effected any positive change. Data from CoinMarketCap shows that the BONE token is down almost 3% in the last day to trade at $0.4178, putting its fully diluted market cap at $104 million.
Featured image created with Dall.E, chart from Tradingview.com
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