Shibarium records a spike in user activity

Shiba Inu launched its layer 2 blockchain solution, Shibharium, on August 16, 2023. However, it soon faced technical glitches when users started flooding the platform. So, it has to walk back and rework the launch. Finally, the solution went live on August 28, 2023. It has been less than 2 months, and Shibarium seems to be working at its best operational image. This is evident from the fact that user activity has increased in every possible sense.

For instance, the number of total blocks has reached 1.08 million, and transactions have reached the milestone of 3.4 million.

This is based on not the same number of accounts but rather an increase in the number of active accounts on the platform. It has jumped from 498 to 783 by 44.96%. The jump came in just a single week. The original highest active accounts stand at 1,343, with the record dating back to September 11, 2023. Simply put, mid-September saw the number at its peak. It is not the same period. Still, the numbers are increasing at a decent average with more users onboarding.

Shibarium has approximately 26,920 accounts registered on the platform. The number of new accounts created was last seen being clocked at 96, for an increase of 190.9%.

The total number of transactions is inching closer to 3.4 million. It is only 3,746 transactions away from the milestone of successfully processing 3,396,254 transactions. While the combined value of the transactions is not yet public, it has been revealed that transactions consist of contract calls and token transfers, among other similar activities.

Transactions happening every day stand at around 10,500. This is a section of what the community wanted since the number has been recorded to be more than 200,000 as of September 12, 2023. The number of wallets and blocks has broken records, too.

Shibarium saw wallet interaction with more than 1.25 million addresses. Specifically speaking, Shibarium houses 1,253,566 wallet addresses actively interacting with the mechanism. The average block time is 5 seconds, with 1.08 million blocks already produced at the time of articulating this piece. The L2 blockchain solution has 1,083,150 blocks on the network.

The development and growth have worked well for the native token. SHIB was last seen being traded at $0.000006815. It has decreased by 0.29% in the last 24 hours, and experts believe that the price is more or less stagnant. The SHIB price prediction calls for some hope, highlighting that the token can touch $0.0000220 by the end of this year.

The number of BONE delegated to the network has plummeted to 27 million. Total BONE stakes are standing at 25.98 million. The number is true as of September 14, 2023, and deals explicitly with Bone ShibaSwap tokens (BONE).

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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