As a seasoned analyst with years of experience in the ever-evolving crypto market, I find myself intrigued by the steady progress of Shibarium, the scaling solution for Shiba Inu (SHIB). While it’s true that the active transaction count has seen a dip over the past month, the consistent block production is a beacon of hope.
Despite experiencing a slower pace of development, Shibarium – the Shiba Inu‘s (SHIB) layer-2 scaling solution – is making progress in crucial areas. Although there has been a consistent decline in active transactions recorded over the last month for Shibarium, the rate at which new blocks are being produced has remained constant.
Making history, Shibarium adoption test
Based on information from Shibariumscam, the L2 protocol has almost reached 2 million total registered addresses. As of now, it stands at approximately 1,814,475, an achievement made within roughly 13 months after its debut.
Beyond the significant number of adoptions we’ve already achieved, the total number of transactions is rapidly approaching the 420 million mark. Currently, our records indicate that we’ve completed a total of about 418 million transactions on Shibarium.
If the current downward trajectory isn’t altered, the total transactions for this milestone could face some turbulence in the near future. According to recent data, daily transactions on Shibarium have decreased significantly from a peak of 28,680 on August 20th, dropping as low as 1,890 by the time of publication.
Adoption of Shibarium tends to peak seasonally, and the final quarter of last year saw a high point with millions of transactions daily. Yet, it’s not surprising that this volume proved difficult to maintain over the long term.
As a researcher, I’ve noticed an intriguing trend: while the number of daily transactions appears to be steadily decreasing, there’s a significant upward momentum in areas such as contract creation and gas usage.
Boost for Shiba Inu price
A favorable outlook towards Shibarium tends to influence the value and popularity of Shiba Inu (SHIB) as well. An increase in transactions could lead to greater involvement with Shiba Inu, potentially attracting more users, as indicated by an uptick in wallet addresses, which suggests a higher number of individuals expressing interest in SHIB.
The positive impact could propel Shiba Inu (SHIB) to continue its upward trend. Currently, the token is showing a 2.77% increase over the past day, trading at $0.00001347. Despite being significantly lower than its peak of $0.00008845 (-87%), potential achievements might aid in closing this difference.
Reaching our objective calls for united action from the community and developers, as they delve into different scenarios within the Shibarium ecosystem.
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2024-09-10 14:04