BONE Hits 93K Holders After Validator-Driven Surge
Wallets holding at least 1 million BONE quietly grew their positions by over 4% in April — a detail that might say more about where this token is headed than any single-week spike in new addresses. Validator Activity…
BONE, the native gas token for Shibarium, surpassed roughly 93,000 holder addresses this week after gaining about 5,653 new wallets in seven days. On-chain checks put the total near 93,010, and the Shibarium team says much of the weekly rise stems from validator re-delegations on the network rather than a sudden wave of retail buying.
Separate on-chain signals show tokens moving off centralized exchanges into noncustodial wallets, alongside rising transaction activity and an expanding active user base. Those patterns typically cut short-term selling pressure and can boost confidence among users, but they don’t always translate immediately into price gains.
Large holders — wallets holding at least 1 million BONE — quietly increased their stakes in April, growing positions by about 4.2% and bringing their collective share to nearly 60% of total supply. These addresses aren’t new: the average holding period is roughly 412 days, suggesting major participants remain focused on a long-term outlook rather than short-term trading.
Trading activity has also spiked: 24-hour volume rose about 51.77% to roughly $1.7 million. Despite that uptick, BONE’s market price slipped to around $0.05766, a decline of roughly 2.5% on the day.
The broader price context tempers the upbeat metrics. Year-to-date, BONE is down about 28%, and it has dropped more than 10% over the last month. The token still sits far below its all-time high of $41.67 from September 2021 — roughly 99.86% below that peak — a gap unlikely to be closed by a single week of rising holder counts.
In short, on-chain data and holder behavior paint a mixed picture. Validator activity, wallet re-deployments, off-exchange flows, growing volume, and accumulation by large, long-term holders are constructive signs for network usage and confidence. At the same time, the persistent drawdown and recent price weakness mean it’s unclear whether these trends point to a sustained turnaround or reflect routine network mechanics.
