Rapid Growth of Millionaire Addresses for Shiba Inu's Governance Token BONE

Discover the remarkable increase in the number of millionaire addresses for Shiba Inu's governance token BONE. Learn about the significant growth in the balance held by millionaire BONE addresses over the past 30 days.

Posted 7 months ago in Blockchain

A graph showing the growth in millionaire addresses for Shiba Inu's BONE token

Bone ShibaSwap (BONE), the governance token of Shiba Inu, is experiencing a notable surge in the number of millionaire addresses, according to data from the on-chain analytics firm IntoTheBlock. Over the past 30 days, the number of BONE millionaire addresses, particularly those holding 10 million to 100 million BONE, has increased significantly.

According to IntoTheBlock's 'Addresses by Holdings' statistic, the number of addresses holding between 10 million and 100 million BONE has surged by 50%. This address category accounts for the highest growth in the last month. Additionally, millionaire BONE addresses have witnessed a 46.53% increase in balance, making it the category with the most substantial monthly growth.

Looking at the composition of BONE addresses by holdings, there has been a 4.76% growth in addresses owning 1 million to 10 million BONE and a 16.97% growth in addresses holding between 0 and 10 BONE.

BONE serves as the gas token for Shibarium, the Shiba Inu Layer 2 solution. Shibarium has already launched and is operating smoothly, with a total of 1,582,853 transactions, 1,125,138 wallet addresses, and 541,046 blocks as per Shibariumscan.

Since the launch of Shibarium, BONE has witnessed constant growth in total addresses, reaching a new high of 192,760, as reported by IntoTheBlock. Validators on Shibarium stake BONE to produce blocks, validate transactions, and participate in the Proof of Stake (PoS) consensus mechanism.

Moreover, the total amount of BONE staked on the Shibarium network has been consistently increasing and currently stands at 26,138,403 BONE.

However, BONE's price has not fully recovered from the significant decrease it experienced in August, closing the month down by 18.36%. Currently trading below $1, BONE has seen a 1.95% increase in the past 24 hours, reaching $0.95.

Last updated 9/11/2023, 1:48:35 AM


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