Shibarium Beta is All Set To Launch, Will Shiba Inu (SHIB) Price Go Parabolic?

The post Shibarium Beta is All Set To Launch, Will Shiba Inu (SHIB) Price Go Parabolic? appeared first on Coinpedia Fintech News

Shibarium network, Shiba Inu’s layer 2 blockchain solution, has announced plans to unveil the beta version soon. Following the announcement, Shiba Inu’s price has risen approximately 3.5 percent to trade around $0.00001030 on Monday. The second largest meme coin is expanding its real-world utility to its global users. Moreover, a layer 2 blockchain will help developers build scalable DeFis that offer cheap transaction fees.

Built on the Ethereum ecosystem, the Shibarium network embarks on becoming a powerful Layer 2 blockchain and a transitional evolution to the Shiba Ecosystem. Notably, the Shibarium L2 blockchain will encompass the SHIB ecosystem tokens including SHIB, LEASH and BONE. 

The $BONE token will, ostensibly, be used to pay for gas transactions and reward validators and delegators within the Shibarium protocol. As such, Validators on the Shibarium network, who verify and process transactions, are rewarded with a fee in return for staking their $BONE and validating blocks.

The launch of Shibarium layer 2 is expected to further spark on-chain activity on the second-largest meme coin in the future. Moreover, Web3 protocols in search of multichain compatibility are significantly attracted to blockchains with high throughput, low transaction fees, and optimal system security.

When Shiba Inu to the Moon?

Backed by Vitalik Buterin’s vast network, Shiba Inu has grown into a globally recognized network. Nonetheless, its future growth prospects are heavily underpinned by its DeFi ecosystem and macroeconomic factors including worldwide crypto regulations.

In the past 24 hours, the Shiba Inu coin has recorded a traded volume of approximately $464 million on a market capitalization of about $5,706,991,586.27. The Shiba Inu ecosystem markets itself with the parabolic rally that saw gains of over 18,348,297 per cent in less than a year.