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Shiba Inu's Shibarium Eyes Dramatic Change In Major Indicator

Fri, 09/08/2023 - 12:17
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Gamza Khanzadaev
Shibarium of Shiba Inu (SHIB) eyes big shake-up worth hundreds of thousands of dollars
Shiba Inu's Shibarium Eyes Dramatic Change In Major Indicator
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Shiba Inu's Shibarium blockchain, a hot topic in the world of crypto, has witnessed a significant shift in its key indicator, total value locked (TVL). According to data from DefiLlama, the TVL on Shibarium recently hit $847,000. While this figure may seem impressive, it marks a noticeable decline compared to just eight days ago, when the TVL was $600,000 higher.

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Since its full-scale launch on Aug. 28, Shibarium's TVL managed to surge to nearly $1.5 million before experiencing a sharp decrease of 43.5%. This fluctuation highlights the dynamic nature of the decentralized finance realm, where rapid changes are common.

Source: DefiLlama

A closer look at Shibarium's landscape reveals that the majority of projects on the blockchain are various yield farms and decentralized exchanges. The largest among these is MARSWAP, boasting a TVL of $382,361, which accounts for 45.2% of the total assets locked within the blockchain.

It is worth noting that Shibarium is still a relatively young innovation, and potential investors and users should exercise caution before deploying capital. The risk of scamming is higher than ever.

Source: Shibariumscan

Despite the decline in TVL, other metrics related to Shiba Inu's Shibarium are on an upward trajectory. The blockchain currently boasts 1.2 million wallets, has processed 1.4 million transactions and celebrated the creation of its 500,000th block just yesterday.

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As Shibarium continues to evolve, its performance in various metrics will remain under scrutiny. Shiba Inu investors and enthusiasts alike will be watching closely for the next twists and turns in this dynamic ecosystem.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.