As a researcher with experience in blockchain analysis, I find the recent developments in Shibarium, the layer-2 blockchain solution for Shiba Inu, quite intriguing. The sudden surge of new user accounts, which increased by an astounding 962% within just 24 hours, is a clear indication of growing interest in the network. This trend was further emphasized by the rise in the average transaction amount from 0.00222 BONE to 0.00458 BONE, suggesting more active participation in the ecosystem.
Shiba Inu’s layer-2 blockchain platform, Shibarium, experienced a remarkable surge in new user registrations, recording a staggering 962% growth within a single day. The daily influx of new accounts swelled from a modest 16 on June 15 to an impressive 154 on June 16, indicative of burgeoning enthusiasm towards the network.
It’s intriguing that the influx of new users occurred simultaneously with a rise in the typical transaction value in BONE, the native token of Shiba Inu.
Based on Shibariumscan’s data, the typical transaction value in BONE has risen from 0.00222 to 0.00458 units. In the Shibarium network, BONE functions as a transaction fee. A segment of each payment is transformed into SHIB and destroyed, consequently decreasing the circulating supply of tokens.
Although there was an increase in the number of new accounts and larger transaction volumes, I observed a decline in the number of active accounts and total transactions on the network.
Over the given timeframe, there was a reduction of 70 active accounts from a total of 836, and a significant drop of 63.2% in the number of transactions, which went from 13,191 to 4,859. This noticeable decrease prompts concerns about Shibarium’s capacity to cater to increasing demand while preserving productivity.
The gap between the rising number of new sign-ups and falling transaction volumes can be explained by various reasons. Some new users might be attracted to the platform just to investigate its features or to acquire BONE and SHIB tokens without engaging in transactions.
An alternate expression could be: Furthermore, the present market scenario might be encouraging more prudent trading habits among users, thereby reducing the number of deals despite an expanding customer base.
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2024-06-17 13:13