Shibarium Surpasses 1 Billion Transactions in Less Than Two Years
Shiba Inu's Layer-2 blockchain, Shibarium, has surpassed one billion transactions in under two years since its launch on August 16, 2023. This milestone was reached on March 31, 2024, marking it as one of the fastest-growing blockchain networks in Web3.
- Shibarium processed up to four million transactions in a single day.
- The network produced 10,233,246 blocks with a stable block time of five seconds.
- Approximately 194 million unique wallet addresses have interacted with Shibarium.
- Despite a recent network outage affecting performance, Shibarium remains a significant Layer-2 solution.
- User activity has fluctuated, with only 917 active accounts recently compared to 8,346 the previous day.
The price of SHIB increased by 5.92% following the transaction milestone, trading at $0.00001290 with a market cap of $7.6 billion. The relationship between blockchain growth and token value suggests potential for further increases in SHIB's price if engagement on Shibarium remains high.
Market conditions remain uncertain, and fluctuations in active accounts may impact SHIB's growth trajectory.