Shiba Inu’s Layer-2 Scaling Solution Shibarium Surpasses 3.5 Million Transactions


This article has been republished with permission from Binance News.

According to CryptoPotato, Shiba Inu’s layer-2 scaling solution, Shibarium, has recently surpassed 3.5 million total transactions and 1.2 million total blocks, less than two months after its launch. However, there was a 45% reduction in new daily transactions, and the number of active accounts decreased from 789 to 584 within a 24-hour period. Shibarium’s Marketing Strategist believes that initial “hype” investors have moved on.

Shibarium’s development is viewed as crucial for Shiba Inu’s price. However, despite its success, SHIB’s value has decreased by around 5% over the past 14 days and 6% in the last month. Some analysts claim that the further advancement of the L2 scaling solution is among the most important elements that could drive Shiba Inu’s valuation up. Others include mass adoption, favorable market sentiment, regulatory clarity, and more. Despite Shibarium’s success, SHIB has failed to record any substantial gains lately.

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