As a seasoned researcher with a soft spot for cryptocurrencies and a penchant for dogs (especially Shiba Inus), I find myself both intrigued and impressed by the recent milestone achieved by Shibarium, the layer-2 blockchain solution for Shiba Inu. With over 700 million transactions under its belt in less than 18 months since launch, it’s clear that this platform is resonating strongly with the community.
On Christmas Day, the second-layer blockchain platform for Shiba Inu (SHIB), known as Shibarium, surpassed a notable achievement by executing over 700 million transactions through its system. This figure represents the overall count of transactions conducted via this protocol.
Shibarium’s transaction growth
As per Shibariumscan data, a grand total of approximately 702 million transactions have been recorded so far. On an average day, this protocol processes around 4.51 million transactions. This information is derived from the 2.02 million unique wallet addresses linked to the blockchain.
The significant achievement of Shibarium reaching its transaction milestone is worth noting, especially considering it was only launched in August 2023. This rapid attainment of substantial transaction volume within approximately 18 months demonstrates a high level of community involvement and engagement. Furthermore, this growth occurred just a week after an earlier U.Today report hinted at the milestone.
Additionally, significant advancements have been made in the protocol, one of which is the introduction of a fresh user interface designed to enhance its compatibility with well-known self-custody wallets like Coinbase Wallet, Trust Wallet, and MetaMask.
The main aim of this protocol is to nurture the growth of the Shiba Inu (SHIB) ecosystem by minimizing transaction fees, increasing efficiency, and boosting speed. Such objectives could potentially play a role in achieving the recent surge in transaction volume.
Noteworthy is the recent update on Shibarium, enabling community developers to process blocks quicker.
Analysts’ outlook on SHIB momentum
It’s noteworthy that the 700 million transaction milestone occurs at a time when there’s been an increase in the value of Shiba Inu.
Currently, Shiba Inu (SHIB) is being traded at approximately 0.00002305 USD, marking a 3.52% increase over the past 24 hours. The optimism among investors continues to grow, as the trading volume has risen by 15.78%, reaching a significant $707.72 million.
Although there was optimism surrounding SHIB, it managed to increase in price at a significant expense. Approximately 7,309,654 SHIB coins were transferred to inactive wallets in the past 24 hours, as per Shibburm data, in an effort to control supply and maintain its value.
Experts believe that if Shiba Inu (SHIB) maintains its current pace, it could potentially lead to a significant surge in value for this popular dog-themed cryptocurrency.
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2024-12-25 13:38