Shibarium Activity Soars with 70%, Wallets Reach 1.8M

• Shibarium’s daily transactions surged by 70%, reflecting renewed interest and growing user engagement in the Shiba Inu ecosystem.
• Shibarium’s total value locked has reached $1.2 million, while wallet addresses continue to rise, now standing at 1.816 million.

Shibarium, the layer-2 scaling solution for Shiba Inu, has recently seen a large increase in activity, indicating a renewed interest in the platform following a period of low engagement. Shibarium’s daily transactions have increased by 70% in the last 24 hours, from 4,537 to 7,715.

This sharp surge in activity reflects increased confidence among users and developers alike. Along with this transaction increase, the network’s total value locked (TVL) has reached an amazing $1.2 million, while the number of wallet addresses continues to grow, now standing at 1.816 million.

These data highlight the return of user interaction and indicate that Shibarium is becoming a more vital player in the Shiba Inu ecosystem.

Source: Coinpedia

Shibarium’s Growing Activity Signals Strong Future for Shiba Inu

The increased activity on Shibarium is not just a technical milestone, but also a good indicator for the future of Shiba Inu. The layer-2 network was created with the intention of making transactions faster and more efficient, lowering costs, and boosting scalability.

As more people interact with Shibarium, the platform’s ability to power real-world applications becomes obvious. The increase in transactions coincides with a noteworthy jump in market performance for Shiba Inu’s native cryptocurrency, SHIB.

Over the same 24-hour period, SHIB’s price increased by about 10%, indicating that the network’s technical gains are being translated into market confidence. The symbiotic relationship between network performance and token price demonstrates the ecosystem’s interdependence.

Furthermore, the increase in activity on Shibarium is consistent with a larger trend of greater development and deployment of smart contracts on the network. According to previous CNF reports, Shibarium’s contract deployments reached a three-month high, signaling increased developer confidence.

This increase in contract activity is a positive sign for the network’s long-term health, since it shows that more projects and decentralized applications (dApps) are finding value in Shibarium’s infrastructure.

The increased use of smart contracts speaks well for Shibarium’s general adoption, as developers continue to investigate the layer-2 solution’s potential.

At the time of writing, Shiba Inu’s native token, SHIB, is trading at around $0,0000144, up 2.31% over the last 24 hours and 6.77% over the last seven days. The token’s market cap is also approaching $8.50 billion.