Popular cryptocurrency exchange Gate.io is the latest to enable support for Shiba Inu layer-2 network Shibarium.
The Shibarium network has gained traction since its launch, attracting significant capital and reaching new milestones in the number of user transactions. Yet the layer-2 network, in its early months, has struggled to secure integration with the most popular cryptocurrency exchanges in the industry.
However, that story appears to be changing. In a landmark development, Gate.io, one of the largest cryptocurrency exchanges by trading volume and user count, has added support for Shibarium. The new integration allows users to withdraw Shibaswap (BONE) tokens via Gate.io to their native Shibarium wallet, such as Metamask.
As shared by Shiba Inu’s marketing lead, Lucie, the latest milestone improves onramps to the Shibarium network. Since Gate.io offers fiat deposit options, users can now seamlessly buy BONE tokens on the platform and move them to Shibarium to explore the blockchain’s growing dApp ecosystem.
Huge shoutout to @gate_io for introducing #Shibarium support! 🚀
Now, easily purchase and send Bone to #Shibarium through Gateio. Appreciate this 👏
Thank you pic.twitter.com/TOjYOXe42k
— 𝐋𝐔𝐂𝐈𝐄 | Shibarium ⛓️ (@LucieSHIB) January 15, 2024
Will Exchanges Ramp-Up Support for Shibarium?
The Shiba Inu community has celebrated Gate.io’s decision to support Shibarium, with some labeling it a “pretty big achievement.” For a good reason: top-tier exchange integrations represent a major hurdle for new blockchains, a challenge that Shibarium has gradually begun to clear.
Ideally, the Shiba Inu community anticipates that Gate.io’s support would pave the way for more popular exchanges to follow in their footsteps. Shiba Inu’s large community and over 1.6 million holders make the cryptocurrency project a popular route for exchanges to attract more users and trading volume.
Meanwhile, Gate.io is not the only exchange that has announced Shibarium support in recent times. Australia-based GroveX added support for the network in October, while Shibarium’s team lead, Shytoshi Kusama, noted that the project is actively in discussions with exchanges to secure additional integrations.