Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Shiba Inu Layer-2 network Shibarium has witnessed a 99.8% drop as daily transactions hit rare lows.
According to Shibariumscan data, daily transactions for Shibarium are at 9,590, a far cry from a figure of 4.8 million seen on Aug. 20, marking a 99.8% drop.
The drop corresponds with lackluster trading action in the crypto market seen in late August, with market players staying on the sidelines.
Despite the drop in daily transaction volume, Shibarium statistics stay steady. Shibarium marked its second anniversary, having launched in August 2023, with total transactions surpassing 1.5 billion and addresses surpassing 270 million; total blocks have surpassed 12 million.
Total transaction count on Shibarium currently stands at 1,566,119,160. Total blocks now stand at 12,811,111, and total addresses are now at 271,936,819, according to Shibariumscan data at press time.
Shiba Inu news
This week, asset manager Valour announced an expansion of its Nordic product suite with the launch of eight new SEK-denominated ETPs, including Shiba Inu on Sweden's Spotlight Stock Market.
Recently, the Shiba Inu team has intensified warnings to the SHIB community as coordinated bad actors and networks of fake accounts continue to actively target vulnerable investors. SHIB holders are warned not to FOMO (fear of missing out) into random links. They should also never connect their wallets without verifying the source.
In a separate warning, the Shiba Inu team reiterated that there is no official LEASH token on Solana, nor is there any migration to Solana. They also stated that any version of token not found on the SHIB website is fake and not part of Shiba Inu ecosystem.
In this light, Shiba Inu community members are urged not to engage with such fake tokens, nor should they do so with unofficial accounts.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team