Shibarium Achieves Ground-Breaking Milestone

The official marketing expert of the Shiba Inu team, who prefers to call herself Lucie, has tweeted that the Layer-2 network Shibarium has reached a tremendous milestone in the overall transaction count and other major metrics.

In the meantime, the Shiba Inu price has staged a 4.21% increase within the last 24 hours.

#Shibarium
150 million transactions. pic.twitter.com/PViXS965u2

— 𝐋𝐔𝐂𝐈𝐄 | ✨Shib.io✨ (@LucieSHIB) December 20, 2023

Shibarium smashes new milestones

Lucie shared a screenshot from the Shibariumscan explorer to proudly show that the overall transaction count has surpassed the 150 million mark and currently stands at 151,107,552. This astounding amount of transactions has been made on it in relatively short period of time – slightly more than four months as Shibarium was launched and then relaunched in August.

Notably, as early as just two weeks ago, the total number of transactions showed 34 million, thus demonstrating almost 5x increase within fourteen days. As reported by U.Today on Tuesday, over the previous 24 hours, the increase constituted an impressive 1.7 million transfers.

Reasons behind this massive uprise

The daily count of transactions on this blockchain is also high, showing 7,780,000 transactions – it has been showing roughly the same level since December 2 when this metric took a sudden major increase.

The total number of blocks on Shibarium has reached an impressive 2,215,473 by now with the average time necessary for generating each block being 5 seconds.

Such a quick rise in the transaction count can be explained by various factors, including the SHIB development team testing new features or the infrastructure stress test on Shibarium, an increased activity of users or perhaps a transactional utility uptick within the SHIB ecosystem.

The gargantuan increase in transactions means the SHIB developer team have quite a lot of BONE tokens for burning now, not directly but in the form of Shiba Inu coins, as the lead developer Shytoshi Kusama insisted last week in his comment on Twitter. Recently, a tremendous amount of SHIB – more than 8 billion – was burned in a single move by the developers. Not long before than they had also transferred approximately 8.2 billion SHIB to unspendable blockchain addresses.

A few other big SHIB burns are planned until the end of the year as the aforementioned BONE tokens will be converted into Shiba Inu and then sent out of circulation permanently.

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