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.
Shiba Inu Layer 2 protocol Shibarium is recording a sharp increase in the number of interacting wallet addresses on its testnet.
According to PuppyScan, the number of interacting wallet addresses on Shibarium is now 13,856,413. On April 17, U.Today reported the number of wallets to be 11,113,441.
Shibarium beta "Puppynet" currently records 446,449 total transactions and 446,449 total blocks.
New projects have also indicated they are building on Shibarium. MzeDex, a new project, has decided to become part of Shibarium. While new projects are joining Shibarium, Shiba users have been urged to stay alert.
At the start of the week, Shiba Inu lead Shytoshi Kusama issued an alert to the Shiba Inu community to always do its research (DYOR) and not get scammed, as there is no official Shibarium token.
Shibarium might burn 500 billion tokens
SHIB BPP, a Shiba Inu-focused Twitter account, unveils his expectations for Shiba Inu (SHIB) burns via the Shibarium Layer 2 protocol.
I just ran new burn estimates for Shibarium.
— $SHIB BPP (@ShibBPP) April 18, 2023
Shibarium will impress me if it can burn 500 billion $SHIB per year.
This is based on the current prices of BONE and SHIB, as well as the number of transactions of the top L2 in the previous 30 days. pic.twitter.com/L7dLE2T9JF
According to its documentation, Shibarium base fees will be split: 70% will be burned, and 30% will be set aside to maintain the network.
Tomiwabold OlajideSHIB BPP says according to the new burn estimates he ran based on the current prices of BONE and SHIB, as well as the number of transactions on Shibarium in the past 30 days, he would be impressed if Shibarium burns 500 billion SHIB per year.
At the time of writing, SHIB was down 3.41% in the last 24 hours to $0.0000114. According to Shibburn's Twitter, there have been a total of 250,000 SHIB tokens burned in a single transaction in the last 24 hours.
Alex Dovbnya
Vladislav Sopov
Dan Burgin