Shibarium is Back with Full Throttle as It Crosses Over $3 Million Transactions

• Data shows that the amount of transactions at the Shibarium is now more than 3 million. 
• The number of wallet addresses on this layer 2 protocol is more than 1.2 million. 

The Shibarium is a layer 2 network that had a series of issues with the launch. So, there was a relaunch of the blockchain, and it is thriving at a fast rate since then. The number of transactions and wallet addresses are on the increase. 

Shibarium Crosses Over 3 Million Transactions 

Shibariumscan 

• The Shibarium is a layer 2 blockchain within the Ethereum network that hopes to achieve many things within the crypto industry. So, since the relaunch of this layer 2 protocol, there’s a very massive growth in every metric. Apparently, the number of transactions happening on this blockchain network is growing at a very fast rate. This is even faster than some layer 1 protocols. 
• The most recent development for the Shibarium is that it now has more than 3 million transactions. So, this is the amount of transactions happening in this network as the day goes by. This is quite massive for the Shiba Inu ecosystem as it shows that the new layer 2 protocol is not a ghost chain. So, according to the data on the Shibarium scan, one can see that most of the transactions are BONE. BONE is the native crypto within the Shiba Inu ecosystem. So, at the time of writing, the number of transactions is more than 3,028,000 million. There was a reduction in the number of daily transactions as the number is currently 42.5k at the time of writing. So, one of the things to note here is that this is not the only metric that is growing in the Shiba Inu ecosystem.

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#Shibarium surpassing 3 Million transactions right now🤯🔥🔥 really Huge! 🚀🚀#SHIBARMYSTRONG pic.twitter.com/pavktCpJEg

— Shib Spain 𝕏 (@ShibSpain) September 21, 2023

Shibarium Wallet Addresses Crosses 1.2 Million 

Shibariumscan 

• The recent growth in the number of transactions isn’t the only milestone for the Shibarium. So, the amount of wallet addresses on the layer 2 protocol is on the increase. According to data from Shibariumscan, the number of wallet addresses on this layer 2 blockchain is now over 1.2 million. Furthermore, the amount of blocks on this network is now more than 755k. This layer 2 protocol is still maintaining the average block time. So, the average block time is still at 5.0 seconds. 
• The price reaction of the Shiba Inu token to this new development isn’t very reflective. So, one of the issues the Shiba Inu community is having with the token is that it does not reflect the growth in the Shibarium. At the time of writing, the SHIB token is down by more than 3% in the past 24 hours. So, it is also suffering a decline in market cap and the daily trading volume, according to Coinmarketcap. 

Coinmarketcap 

Conclusion 

The Shibarium is trying everything possible to attain new levels. So, the amount of transactions going on within this blockchain increased to more than 3 million. This wasn’t the only increase. So, the amount of wallet addresses operating within the layer 2 protocol is now more than 1.2 million.

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