Crypto News

Shibarium Achieves A Remarkable Milestone As It Surpasses 90 Million Transactions

In an impressive feat, Shibarium, the Layer-2 solution within the Shiba Inu ecosystem, has achieved a significant milestone by surpassing 90 million transactions.

This remarkable accomplishment solidifies Shibarium’s position as a thriving Layer-2 ecosystem, contributing to the evolving landscape within the Shiba Inu community.

Since December 2, Shibarium has consistently maintained an impressive daily average of 7.5 million transactions. In the most recent day alone, Shibarium recorded a notable 7.84 million transactions, showcasing the sustained activity within this Layer-2 platform. The growing adoption is further evident in the increasing number of wallet addresses, which has risen to 1,304,953. Additionally, Shibarium has successfully processed over two million blocks, reaching a total of 2,074,948.

Despite this groundbreaking achievement, it’s noteworthy that the surge in Shibarium transactions hasn’t had a substantial impact on the price of Shiba Inu. Currently, Shiba Inu’s price, like many major cryptocurrencies, is experiencing a bearish trend, with a loss of over 4% for the day.

0.51% Decrease In Exchange Supply Since November 12th

However, insights from the market intelligence platform Santimentfeeds offer a different perspective. They reveal a 0.51% decrease in SHIB supply on exchanges since November 12, now resting at 7.85%. A decline in SHIB on exchanges generally indicates reduced selling pressure, setting the stage for potential gains. This development aligns with the broader sentiment in the Shiba Ecosystem, fostering expectations of an upcoming bullish season.

As Shibarium continues to mark impressive transaction numbers, its impact on the broader Shiba Inu community and the potential implications for the cryptocurrency’s price dynamics are closely watched by enthusiasts and investors alike.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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