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The Shiba Inu (SHIB) layer-2 blockchain Shibarium has recorded a major milestone. The blockchain has topped the 1.5 billion milestone, with the total number of transactions now pegged at 1,502,415,908, according to data from Shibariumscan.
Consistent high daily transactions driving Shibarium’s milestone
The development indicates the uptick in user engagement on the ecosystem’s layer-2 platform. Notably, the daily transaction figures on Shibarium have been in the millions since July and have consistently stayed above three million. This consistency contributed to it attaining the 1.5 billion milestone within a short period.
Shibarium’s transaction count also suggests that users are engaging the layer-2 protocol organically. It signals huge adoption by users in the crypto space, particularly the Shiba Inu community.
Besides transaction volume, other key metrics that point to increased adoption include total blocks and address counts. Shibarium now has a total of 12,482,386 blocks while maintaining an average block time of 5.0 seconds.
Interestingly, the transaction count milestone is coming less than 30 days after it surpassed the 12 million count on the total number of blocks. The block count highlights Shibarium’s steady growth and improvements.
Meanwhile, the total address is pegged at 267,865,467. These are contributing to the spike in transaction volume. Interestingly, the transaction volume as of Aug. 9 stands at 4.69 million, highlighting the daily user engagement of Shibarium.
SHIB price outlook amid Shibarium’s growth
Amid this positive outlook, Shibarium has upgraded its documentation portal. The upgrade allows for a more user-friendly environment for developers. It grants more access and centralizes activities for seamless operation and quicker information gathering.
The impact of this growth is rubbing off on the ecosystem’s assets, especially SHIB. On the crypto market, Shiba Inu has recorded an 8.88% price increase in the last seven days. The meme coin is recovering well and looks set to attain higher levels.
As of press time, Shiba Inu is changing hands at $0.00001336, which represents a 0.17% increase in the last 24 hours. A corresponding increase in its low volume could push prices further up. For now, the trading volume is down by 29.72% at $214.93 million, according to CoinMarketCap data.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team