- Shiba Inu’s Layer-2 (L2) blockchain, Shibarium, has exceeded 4 million total transactions in just three months since its launch.
- The network also witnessed growth in the number of wallets and blocks produced, with nearly 1.3 million wallets and 1.78 million blocks.
Shiba Inu’s Layer-2 (L2) blockchain, Shibarium, has made waves in the crypto world by surpassing the remarkable milestone of 4 million total transactions, marking an extraordinary achievement within a mere three months since its launch.
The journey began on August 16 when Shibarium made its debut on the mainnet. However, shortly after its launch, the network encountered a technical glitch that caused it to enter a fail-safe mode, resulting in more than two weeks of downtime.
Despite this initial setback, Shibarium made an impressive comeback after its mainnet relaunch in late August. Since then, the blockchain has witnessed a massive surge in activity, with the total transaction count now standing at an astonishing 4,126,333 (4.12 million) transactions, as reported by Shibariumscan.
Growth Across Various Fronts
Besides the surge in total transactions, Shibarium has experienced growth in several other key aspects. The number of wallets interacting with the network is steadily approaching 1.3 million, with a current count of 1,270,878 (1.27 million).
Additionally, the network has produced a total of 1,787,717 (1.78 million) blocks since its inception. Shibarium stands out as one of the most scalable Layer-2 solutions on the Ethereum blockchain, boasting an average block time of just 5.0 seconds.
Furthermore, daily transactions on the Shibarium network have seen a substantial increase, soaring from a mere 8,930 transactions recorded on November 19 to an impressive 43,690 at the time of writing.
In parallel, the Shiba Inu decentralized finance (DeFi) ecosystem, including Shibarium, has continued to exhibit significant growth. Data from DeFiLlama reveals that the Shibarium network now boasts a total value locked (TVL) of $670,511. Marswap, a prominent DeFi project, claims the top position on Shibarium, representing a substantial 51.05% of the network’s TVL.
This remarkable achievement follows Shibarium’s recent recognition as one of the top five most active networks on NOWNodes, indicating the network’s increasing prominence within the crypto space.
With lead developer Shytoshi Kusama actively working on integrating the network into various crypto exchanges, there is a strong likelihood that Shibarium’s activities will experience even more substantial growth in the coming months, further solidifying its presence in the crypto world.
