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Shiba Inu's Shibarium Hits Two Big Milestones at Go: Details

Thu, 06/29/2023 - 16:10
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Tomiwabold Olajide
Shibarium testnet achieves two big milestones
Shiba Inu's Shibarium Hits Two Big Milestones at Go: Details
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Shiba Inu Layer 2 Shibarium's beta has smashed two big milestones at once. The Shibarium testnet has achieved an impressive round number in its total transactions and wallet addresses.

Shibarium's testnet, "Puppynet," has achieved the 25 million mark in its total transactions, while wallet addresses have been rounded up to 17 million.

According to Puppyscan, the total number of transactions on Puppynet is currently 25,466,859. The total number of wallet addresses has increased to 17,001,830. Shibarium beta Puppynet's total blocks processed have also increased, now standing at 1,481,538.

Shiba Inu lead Shytoshi Kusama's recent tweet has sparked excitement and speculation in the community. "Wen is so last year," Kusama tweeted. The real question is Where?" while adding hashtags shibarium, shiboshis, shiba Eternity and other components or partners of the Shiba Inu ecosystem.

Expectations in the community rose as Kusama uploaded a mesmerizing video with motion lettering alongside his tweet that read, "Something is coming. Actually, we are going somewhere," followed by the famed Shiba Inu logo.

Shibarium to impact BONE price

Shibarium functions as a Layer 2 solution, drastically lowering gas fees and increasing scalability. This scalability enhancement enables a higher volume of transactions at a lower cost.

In a recent tweet, Lucie, a Shiba ecosystem official, suggested five ways Shibarium would positively impact the bone price. BONE was up slightly in the last 24 hours to $0.90 at the time of writing.

According to Lucie, the introduction of Shibarium will result in an increase in general usage and adoption within the Shiba ecosystem. As more transactions occur on the blockchain, the demand for BONE will rise as users require it to pay for gas fees. This increased demand for Bone might raise its price.

Shiba Inu's BONE Price Presents This Recovery Scenario, Here's What It Is

Lucie also predicted that Shibarium's popularity would result in a network effect in which the value of Bone rises as more people join the ecosystem.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.