Governance token of the Shiba Inu network BONNETexperienced a 1300% increase in on-chain activity as it approached a critical stage in its contract.
Shiba Inu team member Shibarium1 reports that BONE printing is almost complete stating pointed out an important update. As developer Kaal Dhairya noted in an earlier blog post, this is an important phase for abandoning the BONE contract.
minting #Bonnet almost completed. https://t.co/csGdYTMbqY
— shibarium1 (@shibarium_) September 24, 2023
NEWS CONTINUES BELOW
The SHIB developer announced at the time that the process of abandoning the BONE contract was ongoing; A fake token called Calcium was created and warned not to trade or purchase as it has neither liquidity nor future value or use.
Last year the community decided to stop all token farming after reaching 230 million mintages in order to save and secure the remaining 20 million for Shibarium validators.
As we reported as Koinfinans.com, according to data from on-chain analysis firm IntoTheBlock, there was a 1,300% increase in BONE large owner entries.
BONE saw a massive inflow of 30.17 million tokens on September 24, which was a significant jump from the previous day’s inflow value of 509,520 tokens. Large owner inflows track funds moving to whales or addresses belonging to large owners.
According to Shibariumscan data, Shibarium reached a total of 3,131,328 transactions; 1,250,604 wallet addresses and 812,508 total blocks. There are currently 12 validators on Shibarium and 28,047,502 BONEs have been authorized. At the time of writing, BONE is up a marginal 0.03% over the last 24 hours to $0.789.