Shiba Inu's Layer-2 blockchain named Shibarium has achieved an impressive feat by surpassing 4 million transactions, marking significant growth in its market presence.
In Brief
Shibarium, the layer-2 blockchain developed by Shiba Inu, is seeing outstanding growth, surpassing the significant milestone of 4 million transactions.
Shiba Inu’s In just three months since its launch, Shibarium's layer-2 infrastructure has achieved a notable milestone, recording more than 4 million transactions.
After encountering minor technical issues in its initial phase, Shibarium has showcased impressive expansion, notably in its transaction volume, wallet numbers, and block generation.
Following its launch on August 16 and a brief technical interruption, Shibarium quickly rebounded with a successful mainnet relaunch in late August.
Since that recovery, the network has experienced a notable increase in user activity, with the transaction count now standing at over 4.12 million, based on reports. Shibariumscan data.
Expanding Shibarium Network
The expansion of Shibarium isn't limited to just transaction numbers; it is also nearing the milestone of 1.3 million active wallets, reflecting a rapidly growing community.
Moreover, Shibarium has successfully produced over 1.78 million blocks since launch, maintaining an impressive average block creation time of only five seconds, establishing it as one of the most scalable Layer-2 solutions available. Ethereum network.
Increase in Daily Transactions and Value Locked
The network has seen a massive surge in daily transactions, climbing from 8,930 on November 19 to an impressive 43,690 currently.
In addition, the total value locked (TVL) within Shibarium’s decentralized finance ecosystem has reached a substantial $670,511, with Marswap leading as the premier DeFi project, commanding over 51% of the TVL. DeFi Shibarium’s recent recognition as one of the top five most active networks on NOWNodes highlights its increasing significance. The lead developer, Shytoshi Kusama, is working on integrating Shibarium into various crypto exchanges, which could trigger considerable spikes in network activity in the approaching months.
The rapid escalation in Shibarium's transaction volume and DeFi activity indicates a significant evolution phase for Shiba Inu's blockchain.
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Disclaimer
In line with the Trust Project guidelines Nik serves as a skilled analyst and writer at Metaverse Post, offering insights into the dynamic tech landscape, particularly in AI/ML, XR, VR, on-chain analytics, and blockchain development. His writings captivate a diverse readership, keeping them informed and ahead in technology. With a Master’s degree in Economics and Management, Nik possesses a keen understanding of the interplay between business dynamics and emerging technologies.
