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Shibarium Smashes Massive New Utility Milestones

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Fri, 5/01/2024 - 14:09
Shibarium Smashes Massive New Utility Milestones
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The Layer-2 blockchain Shibarium continues to expand in terms of utility as the readings of its major metrics keep rising to new highs. Over the past five days, Shibarium has reached several new astounding records in terms of utility.

In the meantime, the SHIB price has failed to break above the $0.00001004 resistance and went back down, adding itself an extra zero.

Shibarium reaches epic milestones

According to the Shibariumscan explorer, Shibarium has added an astounding number of transactions over the past five days as it surged from 223,929,052 on Saturday, Dec. 30, and reached 256,620,883 by now. That is an increase of 33 million transfers within less than a week. A total of 254.704 million transactions from those have been verified by now, the rest are pending to see it done.

The second important metric of Shibarium that demonstrated an increase is the total count of blockchain wallets connected to this network. It has reached 1,326,849, adding approximately 6,000 wallets and currently sitting at 1,320,704.

The number of daily transfers on Shibarium has also increased compared to Wednesday, when it fell to 4.37 million as opposed to 7.84 million at the end of December. At the time of writing this article, the total daily transaction count shows 6.19 million — the result of a two-day increase.

Related

SHIB fails to hold away from new zero

After the massive 14% price decline experienced by Shiba Inu on Wednesday, when it took a plunge following the 7% crash of Bitcoin, the second largest meme-inspired cryptocurrency SHIB has made a few attempts to regain the $0.00001 level lost thanks to Bitcoin.

SHIB’s 9.94% increase was overtaken by a drop of 3%, which took that opportunity away from SHIB. At the time of this writing, the prominent meme coin is changing hands at $0.00000970.

The Bitcoin price collapse was caused by a predictive article published by Matrixport, stating that it expects the SEC to reject all the spot Bitcoin ETFs for now. This immediately resulted in a tremendous number of liquidations across the cryptocurrency market — $730 million worth of crypto positions were eliminated.

As reported by U.Today recently, founder of Shibarium-friendly PawZone marketplace stated that he believes that following the approval of a Bitcoin ETF, the world may see SHIB or PAW spot ETFs in the future.

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