Gushiken Yona
Shibarium is shattering expectations, currently boasting a record-breaking Total Value Locked (TVL) and surpassing 8 million blocks. The Layer-2 scaling solution of the Shiba Inu ecosystem is demonstrating undeniable growth, outpacing predictions and solidifying its position in the crypto landscape.
Shibarium: New TVL All-Time High
Shibarium achieved a record-high Total Value Locked (TVL) of $8.12 million, according to data from DeFiLlama. This surge underlined strong performance across its key decentralized finance (DeFi) protocols, signaling growing investor confidence and expanding utility within the network.
Leading the charge is K9 Finance DAO, a cross-chain liquid staking platform, which currently holds $3.57 million in TVL—a 20.01% increase over the past month. Close behind is ShibaSwap, a two-chain decentralized exchange (DEX), contributing $3.03 million in TVL and exhibiting robust monthly growth of 28.28%.
WoofSwap, a single-chain DEX, adds another layer to this burgeoning DeFi ecosystem, boasting $887,662 in TVL and a significant 28.82% monthly increase. Rounding out the major contributors is ChewySwap, a two-chain DEX, with a more modest but still notable $508,262 in TVL and a 6.48% monthly gain.
Shibarium Network Stats
While the astronomical figures – a newly minted all-time high TVL and the crossing of the 8.1 million block milestone – are undeniably impressive, they represent only one facet of Shibarium’s performance. The network’s average block time, currently hovering around 21.7 seconds, underlined a relatively efficient transaction processing speed. This efficiency is reflected in the hundreds of millions of transactions successfully processed to date.
Shibarium experienced a period of explosive growth between November 1 and 21, marked by a dramatic increase in both user activity and transactional volume. Analysis of the network data reveals a significant surge in active accounts, climbing from 2,284 to 12,041—a 427% increase.
This growth was primarily driven by the influx of new accounts, which skyrocketed from a mere 104 to 5,083, representing an astonishing 4,887% growth rate. The sheer magnitude of new user acquisition suggests a potent combination of factors, potentially including targeted marketing campaigns, increased media attention, or the introduction of new features and functionalities attracting a broader user base.
While the increase in active accounts is noteworthy, the growth in transactional activity provides a more comprehensive understanding of the network’s overall health and usage. Total transactions increased by 12.7%, rising from 4,212,245 to 4,748,036.
This relatively modest increase in transactions compared to the exponential growth in active accounts suggests that a substantial portion of the new users might be engaging in lower transaction volumes or have yet to fully integrate into the network’s ecosystem.
The 20.9% increase in cumulative blocks processed, from 446,789,090 to 540,311,043, further underscores the network’s activity during this period. This relatively smaller percentage increase compared to the account growth indicates the network efficiently handled the increased load without substantial delays or congestion. However, this should be viewed in conjunction with the average block time and transaction confirmation speed to fully assess the network’s performance and scalability.
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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
