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Shibarium Daily Transactions Jump to 200,000 in Surprising Growth

Thu, 09/14/2023 - 12:37
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Tomiwabold Olajide
Shiba Inu Layer-2 Shibarium remains on steady growth path
Shibarium Daily Transactions Jump to 200,000 in Surprising Growth
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Shiba Inu's Layer-2 blockchain solution, Shibarium, is experiencing consistent growth in the number of daily transactions, indicating the platform's utility on an ongoing basis.

Now, daily transactions are hovering around 200,000, which is quite reasonable for a protocol that is less than a month old.

Shiba Inu lead Shytoshi Kusama announced the relaunch of Shibarium to the public on Aug. 28. Before this statement, Shibarium was operational but in private mode. On the day of the announcement, Shibarium saw 66,540 daily transactions.

Since the Aug. 28 relaunch date, the path has been on an upward trajectory, with daily transactions now stabilizing near 200,000 since Sept. 11. The prior day, Sept. 13, saw Shibarium notching daily transactions of 200,880.

The path remains bright for Shibarium, given its current pace of growth. Per the Shibarium scan, Shibarium has reached 2,533,656 total transactions; 1,245,793 wallet addresses and 623,978 total blocks.

Shibarium Token BONE Smashes Big Adoption Milestone: Details

The network utilization currently stands at 21.68%, which might imply that Shibarium could undertake more than it is doing presently without buckling.

It should be recalled that days after Shibarium's initial launch, which saw it pause due to a massive influx of users, the Layer-2 solution had its operations scaled by over 1,500%, while measures were put in place to ensure its resilience should such insane traffic occur again.

Per data from the website, the Shibarium block height is currently 626,656. Heimdall Block Height is 563,546, and there are 12 total validators, with 27,121,209 BONE representing the total stake.

At the time of writing, SHIB was marginally up in the last 24 hours to $0.00000725.

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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.