Shibarium Finally Hits Long-Awaited Milestone, SHIB Price Soars

According to the Shibariumscan explorer, the layer-2 blockchain Shibarium has smashed the much-awaited milestone of six million blocks. This key metric now stands at 6,018,526.

SHIB layer-2 running, layer-3 in works

This has happened ahead of the first anniversary of Shibarium’s launch. The layer-2 solution was released and presented in August during the SHIB team’s participation in the ETHToronto blockchain event in Canada, where SHIB was one of the major sponsors. Back then, the meme coin team proved that SHIB had become much more than merely a meme coin.

After the launch, Shibarium experienced a massive traffic overflow it was unable to handle, and it had to turn to friends, among which was the Polygon team, for help.

This year, the SHIB team, spearheaded by mysterious lead developer Shytoshi Kusama, raised $12 million for creating a layer-3 solution. It will be focused on streamlining transactions, reducing gas fees and protecting user data.

Related

Mon, 07/29/2024 - 11:32

Elon Musk Says: "I'm Not Going to Be Promoting Crypto"

Yuri Molchan

SHIB price reacts to block count surge

Aside from block count number, other major metrics continue to grow as well. The overall transaction count now comprises 417,991,273, while the number of connected wallets stands at 1,811,144.

The SHIB price has reacted to the block number increase by printing 3.22% growth on Sunday evening, reaching $0.00001726. By now, a small pullback has taken the meme coin down to $0.00001712.

Between Thursday and Saturday, the second largest meme cryptocurrency soared by more than 9%. On Sunday, SHIB began to recover after a daily 4.31% decline that followed the rise.