Unusual, even anomalous, activity continues on the Shibarium blockchain, as the layer-2 rollup solution, developed by enthusiasts of popular meme-inspired cryptocurrency Shiba Inu (SHIB), saw another day of wild spikes in its metrics.
The latest episode of it occurred yesterday, when the volume of active transactions on the network dropped 99% in the past 24 hours, from 699,688 to 6,540, according to Shibariumscan. What is more remarkable, however, is that on Saturday, this metric exceeded 4.67 million transactions.
Tomiwabold OlajideU.Today, however, questioned the validity of the data over the weekend, when the number of active accounts did not exceed 6,000 amid multimillion-dollar transactions within the Shibarium chain. Yesterday, it dropped to 927. At the same time, the average amount of BONE spent on gas fees per transaction has increased by 2,000% over the past day or so.
Anomaly or malfunction?
What can cause such spikes? There are several reasons. The first is that the data from the Shibariumscan explorer itself, which is based on Blockscout, is "shaky." This variant is always possible when we are dealing with a counterparty.
Gamza KhanzadaevAnother reason could be a problem with Shibarium itself. It is still not well known or clear what is hidden in the Shiba Inu network and what the real scope of activity on it is. Currently, the total value of the locked blockchain is estimated at $6.23 million, according to DefiLlama.
Tomiwabold Olajide
Godfrey Benjamin
Vladislav Sopov
Dan Burgin