Shiba Inu’s Shibarium Skyrockets With 450% New Users

According to data from Shibariumscan, the layer-2 blockchain from Shiba Inu (SHIB) ecosystem has witnessed an astonishing 450% surge in new accounts in the last 24 hours.

As things stand, the number of new accounts per period under review reached the 27 mark, while the day before it was only 6. The surge in new users reflects growing interest in the network. Apart from this, the total number of active accounts also surged by 23% from 489 to 602.

Interestingly, this surge in new users coincided with an increase in the amount of tokens paid as fees using BONE, Shiba Inu’s native token. Thus, transaction fees increased from 19.31 BONE to 40.14 BONE. This token is used as a gas fee for transactions in Shibarium, and a portion of each fee is converted to SHIB and burned, reducing the overall supply and making it deflationary.

Amid the influx of new accounts and higher transaction amounts, the network experienced an increase in transaction activity. So, the number of transactions has soared to 4,319 daily, which is 35.6% higher than the day before.

New users may be joining to explore the platform or to hold BONE and SHIB tokens and, therefore, boost the network overall. The reason for renewed interest in Shibarium is probably because of the recent price action of Shiba Inu tokens.

Source