Shiba Inu: Shibarium Hits Major Milestone In TVL And Network Growth

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As a researcher who has been closely tracking the DeFi space for years, I must say that the progress of Shibarium is nothing short of impressive. Reaching a TVL of $7 million within just a year since its launch is no small feat, especially considering the highly competitive nature of this sector.

Shiba Inu‘s layer-2 platform, Shibarium, has made a notable stride in terms of Total Value Locked (TVL), reaching an impressive mark in its growth and acceptance. By October 1st, the TVL for Shibarium had soared over $7 million, hitting a peak of approximately $7.06 million as reported by DeFiLlama.

Shiba Inu Adoption Grows

In their recent SHIB Magazine release, the Shiba Inu team emphasize that achieving this significant milestone so quickly after launch indicates a strong level of user interaction and confidence in Shibarium’s abilities. The network has been quite active, having processed an astounding 7,121,009 blocks and boasting a total of 418,887,296 transactions, which involved approximately 1,824,394 unique wallet addresses.

As a crypto investor, I’ve been closely watching the growth of Shibarium in the DeFi landscape. Just a week ago, the Total Value Locked (TVL) was a modest $1.23 million on September 22. However, within this short span, the TVL skyrocketed, reaching an impressive peak of $7.19 million by Sept. 29, as per the latest figures from DefiLlama, indicating a surge in network activity and adoption.

Shiba Inu: Shibarium Hits Major Milestone In TVL And Network Growth

K9 Finance DAO, a popular liquid staking platform, is driving TVL growth by contributing approximately $3.21 million to Shibarium’s total value locked (TVL). This represents a 3.8% increase within a 24-hour period. Liquid staking, a feature that enables users to simultaneously earn staking rewards and keep their assets liquid, is on the rise due to this platform’s popularity.

Additionally, it’s worth noting that ShibaSwap, the primary decentralized exchange within the Shiba Inu universe, currently has a Total Value Locked (TVL) of approximately $2.48 million. This represents an increase of 2.74% compared to the previous day. Besides ShibaSwap, other smaller DEXs such as WoofSwap and ChewySwap also contribute significantly to the ecosystem’s variety. They have TVLs amounting to $809,801 and $433,984 respectively. Marswap holds the fourth largest position among these DEXs on Shibarium with a TVL of around $50,000.

The expansion of Shibarium isn’t just about increasing numbers; it symbolizes a significant strengthening of the Shiba Inu network infrastructure. To put it simply, the rising Total Value Locked (TVL) in Shibarium indicates a growing practicality and acceptance of the platform. By offering faster, more affordable, and highly scalable solutions for transactions involving Shiba Inu, Shibarium is creating a strong foundation that fosters a more dynamic and thriving ecosystem. This, in turn, boosts the usefulness and worth of the Shiba Inu token directly.

Shibarium Based SHIB Eternity Enters Next Phase

As a researcher involved in the Shiba Inu ecosystem, I’m excited to share that the beta version of Shiba Eternity on web3 is now active for all Shiboshi, Sheboshi, and Shiba Eternity NFT owners. This announcement comes directly from Lucie, the marketing lead at X by Shib. After tireless months of refining, testing, and taking community input into account, we’re overjoyed to extend this invitation to our loyal NFT holders to immerse themselves in the enhanced version of Shiba Eternity.

Now, the beta phase is accessible for those who own it, unveiling an entirely overhauled game with enhanced visuals, refined mechanics, and a superior user interface. Notable upgrades include fixing persistent game freezes and various bugs, leading to a more seamless and delightful gaming experience. Furthermore, this update includes a mandatory update feature to guarantee all players are running the most recent version for uniform gameplay.

In October, you can expect competitive tournaments awarding cryptocurrency prizes and a fresh in-game store offering unique Shiba-themed goods. These changes have been specifically designed based on community feedback, demonstrating our dedication to creating a game, Shiba Eternity, that consistently adapts along with its players, as stated by Lucie.

At press time, SHIB traded at $0.00001604.

Shiba Inu: Shibarium Hits Major Milestone In TVL And Network Growth

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2024-10-04 07:41