Shiba Inu L2 Shibarium Sees Highest Daily Account Growth Since Launch

Shibarium, the Shiba Inu ecosystem blockchain, recently welcomed over 13,000 new accounts in a single day, marking a new all-time record.

While the crypto market has slipped into a bearish trend, Shibarium has continued to hit record levels in adoption, suggesting resilience among network participants. One of its latest feats involved a record 13K+ new accounts on the blockchain network in a single day.

The Crypto Basic confirmed yesterday that Shibarium is witnessing a surge in key metrics despite the market turbulence. One such metric was the total number of accounts on the network, which recently saw a sharp increase to cross the 100,000 mark.

Difference Between EOAs and Wallet Addresses

It bears mentioning that the “Accounts” metric does not particularly refer to all the wallet addresses hosted on the Shibarium network. As is the case with its layer-1 network, Ethereum, Shibarium has two types of wallet addresses: smart contracts wallets and externally owned accounts (EOAs).

Notably, smart contract wallets are addresses that hold funds and can execute code, typically programmed to automate transactions based on predefined conditions. However, EOAs are standard user accounts controlled by private keys and are capable of sending transactions on the Shibarium network.

The “Accounts” metric refers only to these EOAs, unlike the “Wallet Address” metric, which considers all addresses on the Shibarium network. These EOAs are a more reliable metric for gauging a network’s growth rate, and they have continued to record an impressive increase this month.

Periods of Sharp Account Growth

Notably, Shibarium has seen three periods of sharp growth in externally owned accounts since its launch last August. The first sharp increase occurred on Aug. 24, 2023, with the blockchain network seeing 5,560 new accounts that day. This rapid growth persisted until the end of August 2023, leading to a total of 21K+ accounts.

The second period of rapid growth came up in December 2023, a period when Shibarium also witnessed a surge in transaction count. The highest daily increase then occurred on Dec. 3, 2023, when network participants created 4,456 new EOAs on Shibarium. This brought the total number of accounts above 50K.

Shibarium Sees Record Daily Account Increase

The metric has continued to grow since, but at a mild pace, hitting 68,288 accounts by the end of March. The third period of massive growth occurred this month when Shibarium saw a whopping 13,314 new accounts on April 13, the largest daily figure since its launch.

Shibarium New Accounts

This remarkable increase contributed to the surge in the total number of accounts above the 100,000 mark. This figure now sits at 100,878 at the reporting time, showcasing 184 additional new wallets since The Crypto Basic’s previous report yesterday.

Shibarium Total Accounts

These 100,878 accounts are part of all the wallet addresses on the network, which has increased to 1.78 million at the reporting time. The Crypto Basic revealed earlier this week that these total addresses recently increased by 375K+ in four days. Most of them were smart contract wallets.

Besides the rapid growth in wallet addresses and EOAs, Shibarium also boasts other impressive metrics. Notably, total transactions on the network have increased to 415.7 million, while total tokens have risen to 9,798. The number of contracts verified since launch now sits at 16,399, with 12 contracts verified today.

Source