Shibarium, the influential layer-2 solution affiliated with Shiba Inu, has achieved an extraordinary milestone by processing over 5 million transactions. This groundbreaking accomplishment is triggering widespread speculation about the potential for a substantial upswing in the SHIB ecosystem.
Surge in Daily Transactions
In a remarkable display of activity Shibarium, the go-to platform for transactions in the Shiba Inu network, recently hit a major milestone, processing a whopping 748,000 transactions in a single day.
Perhaps this spike is a big leap from the previous day’s 16.63 transactions, showcasing remarkable growth for Shibarium. The recent surge is particularly noteworthy, with nearly 35,000 transactions on Tuesday and over 29,000 on Wednesday, marking the highest peak since October 25.
This surge is a positive turn, especially considering Shibarium’s past lows when daily transactions fell below 10,000. The current momentum suggests Shibarium is on an upswing, gaining traction in the Shiba Inu network.
Impressive Network Statistics
Beyond the impressive transaction count, Shibarium’s statistics depict an ecosystem that is both robust and growing. Meanwhile, the total number of transactions has soared to 5.234 million, with Shibarium currently hosting over 30,369 accounts and 1.277 million addresses.
However, Shibarium’s transactions have catapulted a staggering 4,400% in a mere 24 hours, reaching a record-breaking 748,230 transactions.
This exponential growth not only signifies Shibarium’s rapid adoption but also raises questions about its potential impact on the native tokens of Shiba Inu.
Bullish Momentum for SHIB and BONE Prices
The surge in Shibarium transactions is being viewed as highly bullish for the prices of SHIB and BONE. Meanwhile, the increased activity and utility on the network are anticipated to drive demand for these native tokens.
The network has processed over 301,237 BONE transfers and supports a diverse array of 8,575 tokens. With 1.883 million blocks mined and 14,299 contracts deployed, Shibarium has established itself as a significant player in the DeFi space.
As the Shibarium’s remarkable growth marks the dawn of a new era, with potential positive implications for Shib and Bone
Source: https://coinpedia.org/news/shiba-inus-shibarium-hits-5-million-transactions-sending-shibarium-to-the-moon/