The post Shibarium Renaissance Begins, Here Are 3 Key Trends to Watch 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 network, has registered its first major transaction burst as an L2 ready to compete with its peers. As reported earlier, Shibarium crossed the historic five million transaction milestone after recording an unprecedented jump in total daily transactions. With this new lease on life, the protocol has three key factors that can redefine this new era it just transitioned into. Three key factors that can impact Shibarium While it is one thing for Shibarium to breach the crucial transaction milestone, it is another thing entirely to sustain the massive transaction count. The attempt to keep up with its stellar transaction count milestone rests on its burn rate, transaction processing times and the Shiba Inu team’s PR stunts. The burn rate will help showcase how well transactions being registered on Shibarium contribute ultimately to the deflationary agenda of the Shiba Inu protocol. A consistent burn rate will create a bidirectional loop that might encourage hardcore Shibarium users to continually use the protocol with the understanding that they are helping SHIB by doing so. One crucial milestone that many are not dwelling on is the ability of Shibarium to process its over 748,000 transactions in a single day without breaking. This proves that Shibarium now has the right tensile strength to withstand heavy traffic and still maintain its…

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Filed under: News - @ December 1, 2023 8:14 am