Shiba Inu: Shibarium Transaction Count Hits 4 Million Milestone in Three Months

Shiba Inu Price Skyrockets Amid Bitcoin Bull Run and 30,000% Burn Rate Explosion

Shiba Inu Layer-2 blockchain, Shibarium, has achieved a significant milestone by surpassing 4 million transactions within three months of its launch.

Despite facing a technical glitch leading to a two-week fail-safe mode shortly after its August 16 mainnet launch, Shibarium has rebounded impressively, showcasing substantial growth in its total transaction count. As per Shibariumscan data, the total transaction count on the network has reached an impressive 4,126,333 (4.12 million).

Surge in Wallet Interaction and Block Production

The positive momentum extends beyond transaction counts, with notable growth in wallets and blocks produced. The number of wallets interacting with the network is steadily approaching 1.3 million, standing at 1,298,341 at the time of writing. 

Additionally, the network has produced a total of 1,787,717 blocks since its inception.

Shibarium distinguishes itself as one of the most scalable Layer-2 solutions on Ethereum, boasting an average block time of just 5.0 seconds. This efficiency contributes to the network’s appeal and success.

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Rapid Surge in Daily Transactions

Furthermore, the network’s daily transactions have witnessed a substantial increase, jumping from a modest 8,930 on November 19 to an impressive 43,690 at the present moment. This surge highlights the growing activity and engagement within the Shibarium ecosystem.

In the decentralized finance (DeFi) ecosystem, Shibarium continues to demonstrate robust growth. According to DeFiLlama data, the network’s Total Value Locked (TVL) has surged to $670,511. Marswap, holding a substantial 51.05% of the network’s TVL, claims the top spot among DeFi projects on Shibarium.

Related also: Shiba Inu: SHIB Price Swings, Shibarium Records 231% Surge in Transactions

Shibarium Gain More Recognition

This achievement follows Shibarium’s recent recognition as one of the top five most active networks on NOWNodes, showcasing its growing prominence in blockchain.

Lead developer Shytoshi Kusama’s strategic efforts to integrate Shibarium into various crypto exchanges signal a promising trajectory for the network. Anticipating significant activity in the coming months, Shibarium continues to solidify its position as a noteworthy player in the evolving blockchain landscape.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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