Shibarium Surpasses Over 27 Million Transactions

• Shibarium network activities are booming despite its early scare as it surpasses 2.5 million total transactions.

• Bone ShibaSwap (BONE) tokens staked on Shibarium are currently more than 27 million according to reports. 

Just recently, Shiba Inu’s Ethereum layer-2 network, Shibarium, was launched on the mainnet after its testnet surpassed a little over 21 million users. The initiative was meant to serve as a fundamental framework for the Shiba Inu ecosystem by contributing to the transition from the “meme description” to a more technically efficient space.

More on Shiba Inu and Shibarium

The latest data from Shibariumscan shows a boom in network activity with over 2.5 million total transactions. As of press time, the figure stood at exactly 2,690,680 (2.56 million) after adding 562,586 total transactions in less than 72 hours. This is a 24.66 percent surge. 

The number of daily transactions which has been around 200k for some time now has declined to 183.84K. On September 11, the figure was around 202.94K. On top of this, Shibarium has recorded an encouraging total wallet address which currently stands at 1,245,986. This was around 1,125,968 (1.12 million) on September 12. 

In addition to this, the network currently has a total block of 626,769, an improvement from the 588,356 recorded on September 12. According to the data, the average block time is 5.0 s.

Bone Tokens Staked Hit $27 Million

The report further estimates that the Bone ShibaSwap (BONE) tokens staked on the Ethereum Layer-2 network are more than 27 million. This is equivalent to $22.51 million. It is also important to understand that the Bone tokens are staked across the 12 validators on Shibarium.

Among the 12, Unification comes up as the top Shibarium validator. It has about 5,334,344 (5.33 million) BONE tokens. This growth is quite interesting, especially after the technical hitches it had right after the launch. A few days after this, Lucie, Shiba Inu’s marketing specialist, issued a caution to users about possible exploitation risks. Shibarium is accessible to everyone just as any other public blockchain. This makes it vulnerable to attack. 

Similar to Polygon, Ethereum, and other blockchains, Shibarium is open for anyone to build on. Regrettably, this also provides an avenue for bad actors to develop scam dApps and rug-pull tokens, among other things. The mere incorporation of the term “Shibarium” or “Shib” in their names holds no credibility. Prioritize research: delve into their Telegram and Discord channels, gauge the community’s atmosphere, scrutinize their social media posts, and check Etherscan.

Shiba Inu lead developer Shytoshi Kusama has also explained how Shibarium is different from other scaling methods. The project operates as a layer-2 solution that backs governance and the whole Shiba framework to ensure that users access efficient transactions, ownership, and membership features. 

Shiba Inu currently has a bullish market sentiment and is trading at $0.000007. In the last seven days, the asset is down by 3 percent. However, it has shown signs of recovery as it records a 2 percent surge in the last 24 hours. Bone is also trading at $0.818946 after falling by 13 percent in the last seven days. 

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