As a researcher who has closely followed the crypto market for years, I must admit that I am genuinely impressed by Shibarium’s recent development. The rapid growth of its Total Value Locked (TVL) to an all-time high of $7.03 million is nothing short of spectacular. This is particularly noteworthy given that such all-time highs have become a daily occurrence in the Shiba Inu ecosystem.
Lucy, who heads marketing for Shiba Inu, recently announced an important update regarding their Layer-2 blockchain project, Shibarium. Specifically, she pointed out a remarkable milestone: the total value locked within the ecosystem reached its highest point ever.
Shibarium’s TVL surpasses $7 million
On X’s latest post, Lucie expressed excitement over Shibarium’s swift expansion as its Total Value Locked (TVL) surpassed $7.03 million. To clarify, TVL represents the value of assets that are currently being staked or locked within the platform. This significant figure indicates a high level of trust users have in the protocol, and for Shibarium, it signifies more resources being allocated to its ecosystem.
Furthermore, Lucie pointed out that record highs in the Shiba Inu ecosystem are happening more frequently than ever before. This implies a swift expansion of the Shibarium protocol, reinforcing the increasing trust that investors currently place in the Layer-2 network.
This milestone surpasses expectations for the upcoming Shibarium update, known as the Cancun hard fork. Once implemented, it will mark the second such update this year. This update is designed to empower developers and create an environment that’s faster, more seamless, and secure within the ecosystem.
The marketing lead also emphasized that K9BONE and BONE tokens have benefited from this increased TVL and growing adoption. Lucie draws attention to these achievements to boost the investors’ trust in Shiba Inu’s development team.
Top performing Shibarium dApps drive TVL surge
As a passionate crypto investor, I’ve noticed a significant surge in the market recently, and it seems that SpecialSHIB has shed some light on this matter. In a recent post, they highlighted the Shibarium-based decentralized applications (dApps) as key drivers of this growth. Among these, three protocols stand out for their impressive performances: K9 Finance, ShibaSwap, and WoofSwap.
As an analyst, I’d put it this way: “I’ve noticed that K9BONE holds the largest TVL (Total Value Locked) within our ecosystem, currently sitting at a impressive $3,120,000. Following closely are ShibaSwap and WoofSwap with $2,460,000 and $848,546 respectively. Collectively, these three platforms make up approximately 91% of our new All-Time High (ATH) of $7.03 million.
Lately, there’s been a remarkable increase in Shibarium transactions, surging by more than 267%. This surge led to a jump from around 3,090 to 11,360 transactions in just three days. Notably, the number of Shibarium transactions seems to influence SHIB‘s price. When transactions increase, SHIB often experiences an upward trend.
At the time of writing, Shiba Inu traded up 1.77% at $0.00001983 within 24 hours.
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2024-09-28 16:59