Advertisement
AD

Main navigation

Shibarium Is Close to Breaching Important Milestone

Advertisement
Sat, 25/05/2024 - 12:27
Shibarium Is Close to Breaching Important Milestone
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Shibarium, the Shiba Inu-backed Ethereum Layer-2 scaling solution, is showcasing a mixed growth outlook, however, with the tendency to hit a major milestone soon. Per data from its dedicated explorer Shibariumscan, the L2 protocol is eyeing hitting the 5,000,000 total block production milestone.

Advertisement

Shibarium's erratic statistics

Since its inception, Shibarium has maintained a steady growth pace in all key metrics, except for its erratic daily transaction count. Despite powering one of the most vibrant Web3 ecosystems, its average daily transaction count has slumped from at least 1 million in Q4, 2023, to just 5,150 today.

Related

Despite this epic slump, block production remains steady. At the time of writing, a total of 4,900,607 blocks have been produced on Shibarium, leaving just 99,393 blocks to hit the 5 million milestone. At its current pace, chances are that it might hit this record before the end of this second quarter.

Another crucial data insight on Shibarium is the total transactions and wallet address features. While total transactions come in at 417,549,926, the wallet address count is pegged at 1,803,996. This data shows that Shibarium is thriving within its own ecosystem of dApps.

Boosting Shibarium with ShibaSwap

Since its inception in August 2023, Shibarium has charted its growth course in a majorly organic manner. This is about to change as the protocol has welcomed ShibaSwap, its dominant decentralized exchange (DEX).

Related

As an exchange with many unique visitors, the expectation is that in the long run, ShibaSwap can help drive the transaction rebound as well as attract new users into the Shibarium ecosystem.

With the Ethereum L2 ecosystem recording intense competition, Shibarium is looking at competing following its latest hard fork event on the mainnet. With faster speed, predictable gas cost and transaction throughput, hitting the anticipated milestone appears inevitable.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD