Saha Swatilakha
Shibarium, the layer-2 blockchain solution for Shiba Inu, saw a staggering 1,000% increase in daily transactions on Tuesday, compared to the day before, surpassing the 75,000 mark, according to ShibariumScan.
This significant surge in activity is a strong indicator of the network’s growing popularity and adoption, signaling a potential bull run for SHIB.
The impressive growth in daily transactions is not isolated. Shibarium has been consistently expanding since its mainnet launch in August last year. Despite a brief technical hiccup that resulted in a temporary developer-only mode, the network has recovered and thrived, reaching approximately 413 million transactions. This rapid growth trajectory highlights the network’s potential to revolutionize the blockchain space.
The number of wallet addresses interacting with Shibarium has also reached around 1.34 million, while the network has minted over 2.73 million blocks, maintaining an average block time of 5.0 seconds demonstrating the network’s efficiency and its growing adoption among users, making it an exciting time for Shiba Inu enthusiasts and investors alike.
In addition to the increase in daily transactions, Shibarium’s burn rate has also experienced a significant boost, with the figure exploding by over 300%. This increase in token burn rate is a positive indicator for Shiba Inu’s future, as it reduces the maximum supply of SHIB tokens, making them scarcer and potentially more valuable over time. As Shibarium continues to grow, let’s pave the way for a more robust and efficient cryptocurrency sector, driving the adoption of blockchain technology and its applications.
