According to IntoTheBlock, the holdings of the largest investors in BONE, the token of the Shiba Inu ecosystem, have increased a day after the beta release of Shibarium, PuppyNet. This category of investors currently holds 126.15 million BONE, or 54.84% of the token’s total supply. However, back on the day PuppyNet was released, March 11, these wallets had a balance of 125.95 million, which is 200,000 BONE less than the current values. Interestingly, 33.19% of these are concentrated in only the six largest addresses.
It is likely that big investors decided to take advantage of the fall in the price of BONE amid uncertainty on the crypto market, given its utility in Shibarium. As reported by U.Today, the token is used as a gas fee and is also needed by validators to participate in the network.
While the figures are rather insignificant, they reflect well the difference in behavior between large and small capitals, with the latter having reduced their shares in BONE by 190,000 tokens over the same period.
Overall, BONE remains to be a profitable asset for most of its holders. Although the number of addresses in profit has fallen by 10% since the last review, they still account for 70% of the total. By comparison, the profitable addresses of holders of SHIB, the native Shiba Inu token, are just over 30%.