tl;dr
The Shiba Inu ecosystem's Layer-2 (L2) blockchain, Shibarium, recently achieved a significant milestone by surpassing 300 million transactions. The community, also known as the SHIBArmy, celebrated the achievement, expressing confidence in continued growth. However, there has been a significant decr...
The Shiba Inu ecosystem's Layer-2 (L2) blockchain, Shibarium, recently achieved a significant milestone by surpassing 300 million transactions. The community, also known as the SHIBArmy, celebrated the achievement, expressing confidence in continued growth. However, there has been a significant decrease in daily transactions, reflecting the current state of the volatile crypto market. Despite this, large holders, known as crypto whales, are taking advantage of the market conditions. As always, readers are encouraged to conduct thorough research before making any investment decisions.
With Shibarium surpassing the 300 million transaction mark, the Shiba Inu has taken to the X platform to celebrate the jaw-dropping milestone. The team behind the Shiba Inu ecosystem has reacted to the recent feat achieved by its Layer-2 (L2) blockchain Shibarium. The development comes five months after the Shibarium team launched the scaling solution on the mainnet. Members of the Shiba Inu community have been celebrating the astounding feat. Interestingly, the official X handle of Shiba Inu also joined the community in reacting to the achievement.
In a tweet yesterday, the Shiba Inu ecosystem team stated that the SHIBArmy, a title given to Shiba Inu supporters, has driven Shibarium transaction volume to new heights. It added that the Shibarium rollercoaster only moves in the “UP” direction, suggesting that Shibarium will continue to record a massive spike in transaction volume and other stats. This is not the first time the team has celebrated a major Shibarium milestone. Recall that an hour after Shibarium processed 100 million transactions on December 13, the team described the feat as a moonstone, not just a milestone. The total number of transactions on Shibarium now stands at 303,923,111 (303.92 million), with the L2 network boasting a total of 1,343,571 (1.34 million) with 2,787,252 (2.78 million) blocks minted.
Notably, Shibarium’s daily transaction count has decreased significantly in recent times, handling below 3 million transactions in 24 hours, having previously processed over 7 million transactions daily for weeks. The massive plunge in Shibarium daily transactions represents the current mood in the crypto market, with activities across various crypto-related protocols reducing massively due to the high volatility. On the other hand, crypto whales, or large holders, are taking advantage of the massive plunge in the price, as reported yesterday, with an Ethereum whale accumulating 606.3 billion SHIB worth around $5.9 million.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Disclaimer: The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.