15.4 C
London
Friday, October 4, 2024
HomeFinance NewsBone Prices Rise as Developers Enhance Security Measures

Bone Prices Rise as Developers Enhance Security Measures

Date:

Related stories

Stellantis Sues UAW Union Federally Over Strike Threats

On Thursday, October 3, 2024, Carlos Tavares, the chief...

Fire TV Stick 4K Max reaches record low price before October Prime Day

The October Prime Day event is approaching, but Amazon...

‘Rebranding Censorship as Fact Checking’

Fact-checking has become a subjective issue, similar to the...

Update on Amazon’s Live-Action She-Ra Series Released

Eternia appears to be thriving on Amazon with developments...

Jobs report causes mortgage rates to spike

On May 22, 2024, a house was listed for...
spot_img

In the past 24 hours, the bone (BONE) token, a part of the Shiba Inu (SHIB) ecosystem, experienced a 10% increase in value, outperforming other cryptocurrencies in a generally lackluster market. Trading at 90 cents during Asian morning hours on Wednesday, BONE has a market capitalization of $233 million. This surge in trader sentiment can be attributed to the news that the deployer contract for bone tokens was fully renounced by developers, enhancing its security. This move provides investors with a sense of security, as renouncing a smart contract means that its creator no longer has control over it, thus protecting it from potential manipulation.

BONE is one of three tokens, along with TREAT and LEASH, that are utilized for paying fees and participating in governance matters on the Shibarium blockchain, launched by Shiba developers in August. The renouncement of the deployer contract and the subsequent increase in trading volume, reaching over $3 million compared to Monday, highlight the growing interest and confidence in these tokens and the Shiba Inu ecosystem.

In a separate development, calcium (CAL), a dummy token issued specifically for renouncing bone, has gained popularity among activist investors. CAL quickly achieved a market capitalization of $10 million before experiencing a 50% decline from its peak prices on Monday. This demonstrates the enthusiasm and engagement of investors in this ecosystem, as they actively explore different tokens and opportunities within the Shiba Inu network.

Source link