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Shiba Inu’s Shibarium Clears 5M Transactions After Massive Spike

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Fri, 1/12/2023 - 6:05
Shiba Inu’s Shibarium Clears 5M Transactions After Massive Spike
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Shibarium, the layer-2 scaling solution for the Shiba Inu cryptocurrency, has reached a new milestone with over 5 million transactions processed. 

The platform, known for its efficient handling of transactions on the Shiba Inu network, saw a massive surge in activity, with 748K transactions recorded in a single day. 

This significant uptick stands in stark contrast to the mere 16.63 transactions recorded the previous day, showcasing an unprecedented growth trajectory for Shibarium.

A massive surge in daily transactions

Shibarium's recent performance has been nothing short of extraordinary. The network reported nearly 35,000 transactions on Tuesday, followed by over 29,000 on Wednesday. This surge marks the highest peak in transaction volume since October 25, when Shibarium processed a record 62,000 transactions. 

Earlier this month, the platform experienced a notable spike in activity, but nothing comparable to the current levels. 

This resurgence is a positive sign for Shibarium, especially considering its previous lows, where daily transactions had once dipped below 10,000.

Shibarium by the numbers

Apart from the impressive transaction count, Shibarium's overall statistics paint a picture of a robust and expanding ecosystem. 

The total number of transactions has soared to 5.234 million. Shibarium currently hosts over 30,369 accounts and 1.277 million addresses. 

The network has processed over 301,237 BONE transfers and supports a diverse array of 8,575 tokens. 

With 1.883 million blocks mined and 14,299 contracts deployed, Shibarium has established itself as a significant player in the DeFi space.

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