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Shiba Inu Layer 2 Testnet Hits 32 Million Transaction Milestone: Details

Mon, 07/24/2023 - 15:52
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Tomiwabold Olajide
Shiba Inu's Layer 2 testnet breaks 32 million transactions mark
Shiba Inu Layer 2 Testnet Hits 32 Million Transaction Milestone: Details
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Shiba Inu Layer 2 testnet, the Shibarium beta, has broken a new milestone, having reached 32 million total transactions, just days after hitting the 31 million transaction mark.

Puppyscan reports that the total number of transactions on Shibarium testnet "Puppynet" has reached 32,094,269, demonstrating the network's rapidly increasing utility. The overall number of blocks has likewise increased and is now 1,825,723. The current number of wallet addresses is 17,062,525, indicating an increase.

Shibarium Smashes New Milestone as Exciting Times on Horizon

As reported, Shiba Inu lead Shytoshi Kusama tweeted his joy at the rising user activity on the Layer 2 Shiba Inu network, as seen in total transactions and wallets.

As exciting times lie ahead, Shibarium is gaining increasing attention ahead of its launch. Crypto lending platform CoinRabbit has reaffirmed its support for Shibarium, noting that it was the first service of its kind to list both SHIB and BONE.

"And we can't wait to be the first crypto lending service to support Shibarium," it stated in a tweet.

Shiba Inu sees 73% growth in short-term traders

Blockchain analytics company IntoTheBlock compiles addresses based on how long they have held a crypto asset. These addresses are split up as follows: "hodlers," also known as long-term investors, are addresses that have owned the asset for a year or more. "Cruisers," on the other hand, are regarded as midterm, or so-called swing, traders, who hold coins for one to twelve months. Those who have owned the asset for less than a month and are short-term speculators are referred to as "traders."

Shiba Inu: Here's Latest Update on Shibarium Beta Testnet

Shiba Inu is seeing a 73.93% increase in traders in the last 30 days, while hodlers barely grew by 2.60%.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.