Gushiken Yona
Shibarium, the layer-2 blockchain of the Shiba Inu crypto project, continues its relentless streak of achievements, recently surpassing 600 million completed transactions and reaching a new all-time high (ATH) in total value locked (TVL) at $10.4 million.
Shibarium Network Expansion and Growth Metrics
Shibarium’s ecosystem experienced a significant surge in user activity and key network metrics over the past month. Total transactions jumped from 465.2 million on November 5 to over 602.5 million by December 4, a 29.5% increase.
This period also saw a rise in user accounts, climbing from 184,090 to 208,563, a growth of 13.3%. The growth in active accounts was even more pronounced, with daily active accounts increasing by 123.8%, from 3,358 to 7,512.
Perhaps most strikingly, new accounts saw a staggering 847.5% increase, rising from 364 daily registrations on November 5 to 3,451 on December 4. Network demand, as indicated by gas usage, also climbed, with total gas usage rising from 13.2 trillion to 18.2 trillion, according to data from shibariumscan.
Shibarium Hits New TVL ATH
Aside from surpassing the 600 million transactions milestone, Shibarium has also recorded a new all-time high in total value locked (TVL), according to data from DeFiLlama. The latest TVL milestone reflects steady growth, climbing from $10.22 million just days ago to $10.4 million as of early Thursday.
This surge in TVL is being fueled by a range of DeFi protocols thriving within the Shibarium ecosystem, including:
- K9 Finance DAO: Leading the pack with a TVL of $4.49 million, marking an impressive 71.68% growth over the past month.
- ShibaSwap: The ecosystem’s flagship decentralized exchange (DEX), contributing $3.97 million, up 92.71% monthly.
- WoofSwap: Another key DEX, holding $1.16 million, with a 87.68% increase over 30 days.
- ChewySwap: Rounding out the list at $610,279, growing 83.15% in the same period.
As of 3:27 a.m. ET on Thursday, Shibarium continues to demonstrate strong growth, with notable statistics across various metrics. The network boasts an average block time of 21.274 seconds, while the total number of completed transactions has reached 603.149 million.
The total number of accounts has climbed to 208,563, and the total number of addresses is nearing 2 million at 1.999 million. The network has processed a total of 8.236 million blocks and 23,067 contracts, including 1.92 million BONE transfers across 12,345 unique tokens.
Additionally, Shiba Inu’s layer-2 network has verified 4,558 contracts, showcasing the network’s ongoing activity and development. These figures highlight Shibarium’s growing adoption and capacity as a vital component of the Shiba Inu ecosystem.
Read More
- Shibarium Cancun Hardfork Is Live: What It Means for Shiba Inu L2 Blockchain
- Shibarium Hits New TVL ATH Again Ahead of Scheduled Hard Fork
- Shiba Inu Network Activity ‘Much Higher Than Normal Rate’—Here’s Why It Signals a Bullish Future
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.
