The post 3 Things Stand in Shibarium’s Way to History appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Shibarium, the Ethereum-based layer-2 scaling solution linked to the Shiba Inu ecosystem, is on a revolutionary ride as concerns its transaction growth. This particular metric has blown up in recent times and currently stands at 97,067,133, within just about four months since it was first launched. The Shibarium milestone is worth commending, seeing as the L2 is handling the weight on its shoulders with grace, as it has not crashed like it did when it was first introduced. With the current outlook, Shibarium is now eyeing the 100 millionth transaction milestone, a feat that has many factors working against it at the moment. One crucial factor is the declining Daily Active Users (DAUs) in the Shiba Inu ecosystem in general. Per data from IntoTheBlock, this metric has dropped by 10.88%, with less than 4,000 addresses active at this time. Though a source of concern, active addresses do not connote transaction count as one address may complete multiple transactions to top the numbers. The slowing daily trading volume of SHIB on exchanges is also another major bottleneck in view as waning enthusiasm implies that traders might conduct fewer transactions overall. Lastly, the low correlation between the Shibarium transaction boost and SHIB price may sunset core users’ interest over time. Shibarium promises are enormous Despite these obvious bottlenecks, Shibarium shows promise…

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Filed under: News - @ December 14, 2023 4:18 am