Shibarium Close to Major Block Milestone

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As an analyst with over two decades of experience in the ever-evolving world of cryptocurrencies, I’ve seen my fair share of projects rise and fall, but Shibarium has consistently impressed me with its resilience and growth.

The Shiba Inu (SHIB) network has been driving its Ethereum-linked layer-2 scaling platform, Shibarium, to unprecedented heights. As per Shibarium Scan, an on-chain analytical tool, the protocol is steadily approaching a significant milestone of 8 million total blocks.

State of Shibarium – The Figures

As an analyst, I’m excited to note that our current protocol has amassed a total of 7,961,993 blocks, significantly bolstered by the substantial surge in total transactions on the network over time. Over the past year, the Shibarium block transactions have demonstrated a consistent, linear growth trajectory.

According to U.Today’s previous report, the protocol surpassed the 7 million block mark in late September, indicating a swift path for future expansion. Notably, Shibarium has also achieved significant milestones in terms of transaction count. For more than a month now, daily transactions on this platform have consistently been in the millions, demonstrating the widespread adoption driven by the ongoing bull market.

As I write this, Shibarium’s total transaction tally has surpassed 531 million, indicating impressive and continued expansion. Furthermore, the count of registered wallets on the network has soared to an astounding 1,892,071, underscoring its robust growth trajectory.

In simpler terms, other important factors, such as typical block time, consistently stay around 5 seconds, making Shibarium one of the quickest Layer-2 solutions within the larger Ethereum network.

Impact on Shiba Inu Price

The development and significant events of Shibarium often mirror the value of Shiba Inu, although there are typically some variations from this pattern. Currently, the price of a Shiba Inu coin has decreased by 2.37% over the past day to $0.00002513.

In simpler terms, the overall pattern in the cryptocurrency market indicates a sense of caution, since many digital currencies are currently overvalued following their breakout from a recent slump. However, despite this temporary dip, Shiba Inu has seen substantial price growth over the past month, registering a 34.32% increase.

During this current bull run, the overall market direction could influence how much Shiba Inu (SHIB) rises or falls. However, Shibarium may potentially reverse any significant downtrends that SHIB is experiencing.

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2024-11-19 14:14