Shibarium Blockchain Sees Record Transactions and Wallet Growth

Discover the latest updates on Shibarium blockchain's skyrocketing transactions and wallet growth. Explore the surge in Bone ShibaSwap token usage and the addition of LEASH token on GroveX. Stay informed about the burn rate and its impact on SHIB's price.

Posted 7 months ago in Blockchain

A visual representation of the Shibarium blockchain's growth and adoption

Shiba Inu's blockchain Shibarium is experiencing exponential growth and widespread adoption as it surpasses new milestones. According to Shibariumscan, the Layer-2 blockchain has reached over two million transactions and is now witnessing a surge in daily transfers. Additionally, the number of connected wallet addresses has increased by approximately 100,000.

The total transaction count on Shibarium currently stands at 2,347,532, with a daily peak of 202,900 transactions recorded this week. The platform has also seen an impressive growth in linked wallet addresses, reaching a total of 1,211,432.

To facilitate transactions on Shibarium, users rely on the Bone ShibaSwap (BONE) token. BONE serves as the governance token on the Shibaswap decentralized exchange (DEX) and also functions as a gas token on the Layer-2 solution of SHIB. Recently, BONE has gained significant attention, with a 50% increase in the number of millionaire addresses within the last 30 days. These addresses hold between 10,000 and 100,000 BONE.

Another Shibarium token, LEASH, was added to the Australian cryptocurrency exchange GroveX last week. LEASH offers SHIB holders the opportunity to earn rewards by staking on the ShibaSwap DEX. As for the TREAT token, it is currently in development and has not been launched yet. The Shiba Inu team, led by the pseudonymous Shytoshi Kusama, is actively working on updates related to TREAT.

Meanwhile, the Shibburn website, which tracks the burn rate of Shiba Inu coins, reveals that over the past 24 hours, the burn rate has decreased by only 5%. A total of 40,467,566 SHIB coins were burned, rendering them unspendable and locked forever. To date, 410,658,899,531,869 SHIB tokens have been destroyed, with the majority burned by Ethereum cofounder Vitalik Buterin in May 2021. Despite this massive burn, Shibburn's tweet suggests that it did not impact the price of SHIB, as its surge was driven by high demand from investors.

Overall, Shiba Inu has experienced a staggering 46,000,000% increase in value from its inception to the present.

Last updated 9/14/2023, 2:33:35 AM


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