As an experienced analyst, I find the recent on-chain performance of Shibarium, the blockchain network associated with the Shiba Inu token, truly remarkable. The daily transaction volume has skyrocketed by an astounding 441% over the past week, climbing from a mere 2,990 at the beginning to a staggering 13,191 today.
As a data analyst, I’ve been closely monitoring Shibarium, the blockchain associated with the Shiba Inu token, and I must share some intriguing insights from the past week. The daily transaction volume has experienced a remarkable surge, jumping from 2,990 at the start of the week to an impressive 13,191 transactions today. This represents a staggering 441% increase. Such a significant growth may leave the SHIB community in awe.
Due to the recent heightened interest in Shiba Inu tokens and market fluctuations, Shibarium has experienced a significant uptick in activity. Consequently, there has been a rise in the need for transactions, leading to an increase in transaction fees. For instance, transaction fees paid in BONE have surged by approximately 176% within the last day.
As a crypto investor in SHIB, I’m excited about the recent surge in transactions. This increase in activity is a promising sign for our community. With each transaction, SHIB tokens get burned, thereby decreasing the total supply and potentially boosting the value of the remaining tokens. Moreover, Shibarium, our upcoming Layer 2 solution, operates on BONE tokens as gas fees. So, the more transactions we have, the more demand there will be for BONE tokens, which could further benefit our investments.
As an analyst, I would explain it this way: For every transaction processed on the network, a specific amount of SHIB is destroyed. This is accomplished by taking a segment of the BONE fee and transferring it to an inactive wallet.
During the specified timeframe, there was a rise in the count of active Shibarium accounts from 798 to 836. This signifies that existing users are demonstrating heightened engagement with the network, contributing significantly to its vibrant expansion, despite a slight dip in the creation of new user accounts.
As a researcher studying the Shiba Inu community, I’ve noticed an intriguing development this week: the network has shown remarkable improvement in its performance. This progress underscores its increasing significance and value within our community. The fact that more users are relying on it is a clear sign of its potential and the faith they place in it.
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2024-06-16 14:16