News

Shibarium TVL Soars 17% Amid Expedited BONE Token Transfers To Ethereum

Shibarium TVL is on a tear after the L2 solution improved transaction speed for BONE token transfers to Ethereum.
Published by
Shibarium TVL Soars 17% Amid Expedited BONE Token Transfers To Ethereum  

Highlights

  • Shibarium bridge has improved BONE token transfer speed from seven days to around 45 minutes.
  • Enhancement will apply to current and future transfers only, as those initiated before the upgrade are subject to seven-day wait.
  • Shibarium TVL has soared by 17% as BONE trading volume rises by 15%.

Bone ShibaSwap token trading volume is up 15% after recent Shibarium bridge enhancements that have reduced BONE transfer time significantly.

Advertisement

BONE Transfers To Happen In 45 Minutes On Shibarium Bridge

The Bone ShibaSwap token holders will be able to move their BONE holdings in a record 45 minutes. It marks a significant upscale, reflecting Shibarium’s resolve to embrace technological advancement. It also reflects a broader commitment to delivering streamlined operations and more efficiency.

According to the Shiba Inu development team on TheShibDaily post, users had to endure a seven-day wait before their BONE tokens could move from Shibarium to Ethereum. During the week-long wait, the BONE tokens would be subjected to a lock-in period meant to elongate the length of time users would interact with the Layer 2 (L2) solution, Shibarium.

This interactive period was seen as a possible driver for the Bone ShibaSwap price. The improvement is also bullish for the Bone ShibaSwap price, marking a strategic transition from an era leveraging interaction time to influence price. Instead, the network is prioritizing user experience, network efficiency, and ecosystem stability as possible market value drivers for BONE.

Shibarium and the Shiba ecosystem technology and marketing specialist, Lucie Sasnikova revealed the improvement in a post on X (formerly Twitter).

Henceforth, ecosystem participants would enjoy more seamless processes for the convenience of community members and network inhabitants.

The dominance of the Shibarium L2 is also primed to benefit from this upscale among Decentralized Finance (DeFi) protocols.

Data according to DefiLlama shows that the Total Value Locked (TVL) of Shibarium has soared by 17% in five days, from $2.11 million on May 24 to $2.47 million at press time.

Shibarium TVL: Source DefiLlama
Advertisement

BONE Token Transfers Under New System Of Operation

The development team highlights that based on the new system, there will be a checkpoint for all BONE token exits from the Shibarium ecosystem. Under the new system:

  • BONE holders will be able to manage their assets faster
  • Project builders can develop complex and urgent applications on the L2 chain.

Notably, this enhancement will only apply for current transfers, meaning those that had been initiated before the upgrade would be subject to the seven-day wait.

BONE price is up almost 2% in the past 24 hours to trade for $0.6865 as of 21:05 GMT, on trading volume that surged 15%.

Also Read: Terra Luna Classic Takes Down LUNC Burn Once And For All

Advertisement
Share
Lockridge Okoth

Lockridge transitioned from a career in Molecular and Cell Biology to pursue his interest in the chaos of the crypto and financial markets. He is a cryptocurrency journalist and market analyst with over 3,000 articles to his name. Conducting on-chain analysis, breaking down market-triggering events, and publishing Op-Ed pieces, he finds gratification in diving deep into the crypto space, earning himself significant knowledge and experience. Aside from ATZCrypto, Blockster and InsideBitcoins, Lockridge’s works can also be found on FXStreet.com. Outside work, you can find Lockridge watching movies or horse riding.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Canary XRP ETF Filing Removes SEC Delay Clause, Targets November Launch

Canary Funds has filed an updated S-1 registration for its XRP spot exchange-traded fund (ETF).…

October 31, 2025
  • News

CFTC, SEC Launch ‘New Era of Collaboration’ to Clarify Crypto Rules, End Regulation by Enforcement

The U.S. Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) have entered…

October 31, 2025
  • News

Senate Committee Finalizes Updated Crypto Market Structure Bill Draft, Release Expected In Days

The U.S. Senate committee is set to release an updated draft of the Crypto Market…

October 30, 2025
  • News

€648 Billion Nordea To Allow Customers to Trade Bitcoin-Linked ETFs

Nordea Bank, one of Europe’s largest financial institutions, is allowing customers to trade Bitcoin-linked funds…

October 30, 2025
  • News

Uphold Joins Gemini, Relaunches XRP Debit Card Following SEC Lawsuit Resolution

Uphold has relaunched its XRP Debit Card across the United States following the resolution of…

October 30, 2025
  • Altcoin News

Breaking: XRP Treasury Evernorth Debuts on Nasdaq Under XRPN Ticker After $1B Token Purchase

Evernorth Holdings, a Ripple-backed XRP treasury company, has officially made its debut on Nasdaq under…

October 30, 2025