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Shibarium blasts off: 3 million transactions achieved

Shibarium blasts off: 3 million transactions achieved

Since its launch on August 16, Shibarium, the layer 2 blockchain created by the developers of the Shiba Inu (SHIB) cryptocurrency ecosystem, has triggered massive interest, demonstrated both in the number of wallets and in regard to the number of transactions, which has recently made a new record.

As it happens, Shibarium has just hit a new all-time high (ATH) as it surpassed a milestone of 3 million transactions (specifically 3,002,924 at the time of publication) carried out on its network as its user base continues to grow, according to the most recent data obtained by Finbold from the Shibariumscan explorer on September 21.

Shibarium total transactions. Source: Shibariumscan explorer

At the moment, the total number of crypto wallets on Shibarium stands at 1,250,064, which means it has been growing by roughly 34,724 new addresses each day, adding 3,398 new wallets since Finbold’s previous report from September 19.

Following the launch in mid-August, Shibarium had a relaunch shortly after due to failing to effectively handle the massive influx of incoming traffic that occurred during its mainnet introduction at the Blockchain Futurist Conference in Toronto.

BONE price analysis

Meanwhile, the price of BONE, the token that the leading Shiba Inu crypto ecosystem and ShibaSwap decentralized exchange (DEX) developer Shytoshi Kusama referred to as “the passport to Shibarium,” is currently changing hands at the price of $0.7944, down 1.92% on the day, 4.11% across the week, and 32.29% over the past month.

BONE 7-day price chart. Source: Finbold

It is worth noting that BONE’s smart contract presently remains under the control of Kusama and his development team, with a standing promise of them handing over this control to the community at a certain point in the future.

SHIB price analysis

At the same time, SHIB, the cryptocurrency that originated with the ecosystem, was at press time trading at $0.000007281, which demonstrates a decline of 0.4% in the last 24 hours, a gain of 0.43% in the previous seven days, and an 8.75% loss on its monthly chart, according to the information on September 21.

SHIB 7-day price chart. Source: Finbold

That said, Shibarium’s total value locked (TVL) dropped to $591,812 on September 20, declining from $1.47 million on August 29, but has so far managed to recover some of the losses, as its current TVL stands at $624,584, according to the data obtained from DefiLlama.

Taking into account the continuous efforts by the SHIB community and developers, Shibarium’s massive progress and popularity do not come as a surprise, and they could play a massive role in the price of the related tokens in the future.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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