The Shiba Inu team is celebrating another milestone as they add a new payment method to the Shibarium network. This time around, the team is celebrating the addition of card payments for BONE transactions on the Ethereum Layer 2 network, making it one step easier for investors to get on board with the emerging Shiba Inu community.

Buy BONE tokens with credit cards

In an X (formerly Twitter) post, Shiba Inu marketing lead LUCIE revealed a major development for the Shibarium ecosystem. According to the post, investors who want to invest in BONE, the utility token for the Shibarium Layer 2 network, can now purchase the coin directly with their cards.

This development means that Shibarium network users no longer have to go through the tedious process of bridging to get their BONE tokens. They can now purchase the coin directly and use it to transact on the Ethereum Layer 2 network.

Are you tired of bridging?

Now you can buy $BONE on #Shibarium directly with your card 😉 photo.twitter.com/GAoy1Ilqep

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) August 13, 2024

The announcement was received positively by the community, with many praising the Shiba Inu team for their efforts. Community members have even started using the service. A community member known as @sand_ShibArmy posted a screenshot of a completed transaction where they purchased BONE tokens with their card.

“Successfully tested, easy, fast, cheap! Faster and cheaper than buying eth on metamask! Now, #UseShibarium and load your $bone! What are you waiting for, #ShibArmy? The best way to go onramp!” The X-post read.

Shiba Inu’s Shibarium with adoption

While recent development is positive for the Shibarium network, it still struggles with adoption. It remains one of the worst performing Ethereum Layer 2 networks with only $1.25 million in Total Value Locked (TVL) compared to the hundreds of millions and billions of dollars in TVL recorded by competitors such as Arbitrum and Polygon.

It continues to record significant declines in key metrics. One such example is that the number of daily active accounts drops to just 87 wallets per day. Compared to its competitors who see hundreds of thousands of daily transactions, the Shibarium network has dropped to just 768 transactions per day.

On average, 2 new contracts are being posted to the network every day, which shows a complete lack of interest from developers in this blockchain. New blocks produced also saw a drop of over 60%, dropping below 6,000 at the time of writing.

In terms of price, the new development has not brought about any positive change. Data from CoinMarketCap shows that the BONE token has dropped by almost 3% over the past day and is trading at $0.4178, bringing its fully diluted market cap to $104 million.

Main image created with Dall.E, chart from Tradingview.com