Shiba Inu (SHIB) Layer 2 Shibarium Hits 1 Million Wallet Addresses

Shiba Inu’s Layer-2 scalability platform Shibarium delivers an impressive performance within a month of its launch. Since it reopened on August 24, after some initial hiccups, the Shibarium total wallet addresses have surpassed the 1 million mark.

The Shiba Inu Layer-2 has been adding 36,667 new wallet addresses on a daily basis. Additionally, Shibarium is on the brink of a significant utility milestone, as its total transactions approach the 3 million mark. In fact. The Layer-2 platform has already recorded a total of 2,944,672 transactions.

Also, as per the data from Shibariumscan, the layer-2 scalability solution has experienced a remarkable surge in newly verified contracts, witnessing an astounding 633% increase just this week. Consequently, Shibarium has achieved a substantial uptick in the number of verified contracts, reaching a new all-time high of 415.

It’s worth highlighting that between September 14-17, Shibarium incorporated merely eight verified smart contracts. However, there was a noteworthy surge with the addition of 19 verified contracts on the subsequent day, September 18. In addition to verified smart contracts, Shibarium has witnessed a remarkable increase in its total contracts, reaching an all-time high of 9,917.

Also, the network currently maintains an average block time of 191.385 seconds, accompanied by a total of 2.676 million completed transactions.

Shiba Inu Team: Move Assets to Shibarium

In the latest post, Shiba Inu marketing strategist Lucie (@LucieSHIB) called on users to move their assets from the centralized assets to the Layer-2 scalability platform Shibarium.

Lucie initiated her message by dispelling a prevalent misconception concerning Shibarium’s involvement in the SHIB token burn. She emphasized that the inquiry isn’t about when Shibarium will conduct SHIB token burns. Rather, when SHIB holders will transition from exchanges to Shibarium.

To bolster her argument, she directed focus toward the defunct FTX exchange, a major player in the cryptocurrency sector that has now gone bankrupt. This was done to underscore the risks associated with users depending on centralized cryptocurrency exchanges for token management.

Lucie underscored that the Layer-2 platform conducts token burns for every transaction, irrespective of the discussions regarding burns in online posts. She emphasized that the exclusive means of burning SHIB tokens is through the utilization of Shibarium.

Also, the transaction fee on Shibarium is currently almost negligible. However, this is subject to increase with the increase in the traffic.

The Shiba Inu (SHIB) price is currently trading at $0.000007449. As per technical indicators, the SHIB price can rally an additional 15% before the month end.

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.