Shibarium, the layer-2 scaling solution for the Shiba Inu blockchain, is making strides, according to recent data.
A newly launched transaction scanner, accessible at Shibariumscan.io, now allows users to search by address, transaction hash, block, or token.
This comes amid an announcement from Shiba Inu lead developer Shytoshi Kusama declaring Shibarium "ready for prime time."
The latest figures show the platform has processed over 712,000 transactions across 408,484 blocks, with an average block time of 5.0 seconds.
The ecosystem also counts nearly 1 million wallet addresses, specifically 822,231, with a current gas tracker at 1.91 Gwei.
Shibarium and DeFiLlama
Although Shibarium is relatively new, its total value locked (TVL) is already pegged at $1.18 million, according to data shared by DeFiLlama, a prominent DeFi protocol tracker.
In the ecosystem, DogSwap, MARSWAP, WoofSwap, Woof Finance, and Shibex are currently the top projects by TVL, albeit with varying rates of daily and weekly changes.
Despite the optimistic metrics, Shibarium hasn't had an entirely smooth journey to this point. As reported earlier, the mainnet faced technical hiccups, including its RPC going offline and issues with its cross-chain bridge locking up Ethereum. These technical setbacks temporarily caused Shiba Inu's price to slump. Additionally, Shiba Inu as a whole has recently weathered what community members describe as "FUD attacks"—fear, uncertainty, and doubt aimed at undermining investor confidence.
Balancing both optimism and caution, it's evident that Shibarium has made considerable progress since its recent launch.