Shiba Inu Unleashes Powerful Staking: 50x TVL Surge
Today marks a pivotal moment for the Shiba Inu ecosystem, as K9 Finance debuts its much-anticipated liquid staking protocol on Shibarium, the layer-2 scaling solution. Announced on X (formerly Twitter), the liquid staking derivative (LSD) is set to revolutionize staking for BONE, one of Shiba Inus key tokens.
Liquid staking changes the traditional method. With K9s decentralized app (dApp), users can now stake their BONE tokens and convert them into knBONE. This derivative token can be used across the Shiba Inu ecosystem, providing utility while still earning staking rewards. Its a dual advantageusers earn while keeping their tokens liquid.
The launch is expected to significantly impact Shibarium. According to Buzz, K9 Finances pseudonymous founder, the total value locked (TVL) on the Shibarium network could grow by up to 50 times, potentially reaching $50 million. Current TVL sits at $1.19 million, as per DeFiLlama. If BONE holders embrace the new staking protocol, this spike in TVL could materialize quickly.
Transaction volume on Shibarium is also likely to increase. With knBONE available for trading, network activity will rise. More trades mean more transaction feesand this brings us to a key benefit for SHIB holders: burns. As trading volume increases, more SHIB tokens will be burned, reducing the circulating supply and potentially driving the price higher.
Shiba Inus Potential Price Surge
The timing of the liquid staking launch could coincide with a price rally for SHIB. The token recently broke out of a falling wedge pattern, a bullish indicator. Some analysts are predicting a surge of 432%, with prices potentially reaching $0.000081. At the time of writing, SHIB is priced at $0.00001326, down less than 1% over the past day.
With liquid staking now live, and both TVL and transaction volumes expected to rise, Shiba Inu may be poised for a major leap forward, reinforcing its position as one of the most dynamic ecosystems in crypto.
Read more: https://www.tronweekly.com/shiba-inu-unleashes-powerful-staking-50x-surge/
Text source: TronWeekly
