Shiba Inu: Shibarium Adds 10,000 Transactions in Day, but Growth Still Flat

Shiba Inu Layer 2 Shibarium has added 10,000 transactions more within the last 24 hours, but transaction growth still remains flatlined.

According to Shibariumscan data, daily transactions for Sept. 19 came in at 17,410, which remains much lower than the over 4 million experienced in late August but higher than Sept. 18's figure of 7,110.

Taken from the Sept. 18 figure of 7,110, the daily transaction figure of 17,410 achieved in the past day marks an increase of 10,300.

On Aug. 21, Shibarium saw daily transactions of 4.69 million, after which it suffered a plunge to as low as 84,090 on Aug. 28. Since this date, Shibarium's daily transactions have remained in thousands, however rising briefly to 1.26 million on Sept. 6 before declining again.

Transaction growth stalls in September

According to the daily transactions graph provided on Shibarium, it can be seen that transaction growth flatlined for most of September, except for a brief rise to 1.26 million on Sept. 6 and then 490,230 on Sept. 7, as well as 150,810 on Sept. 3. For other days, the transaction count remained less than 20,000.

September is deemed a weak month for cryptocurrencies and the general markets; however, it remains uncertain if the drop in Shibarium transactions might have been due to the bearish September seasonality sentiment. The recent Shibarium bridge exploit, following which stake/unstake functionality was paused on the platform, might have also contributed to this sentiment.

This stall in transaction growth has impacted total transaction count, which is currently at 1,568,294,633, as it hasn't seen an exponential increase since September's start.

According to Shibariumscan data, Shibarium's total blocks have surpassed 13 million, with the most recent count at 13,163,462. Total addresses now stand at 272,485,122.