The post Shibarium Transactions Hit Jaw-Dropping Milestone, SHIB Price Reacts 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. The crypto ecosystem is on a major rally today after Bitcoin (BTC) retested its highest price level for 2023. With Bitcoin trading at $41,675, many altcoin protocols have also seen a massive resurgence in their prices and activity. Shibarium is one of the key beneficiaries of this bullish market sentiment as data from Shibarium Scan shows it has pushed its total transaction count above 27,000,000. Per the data, the Shiba Inu-based Ethereum Layer-2 scaling solution recorded a daily transaction count of 7.84 million, arguably the highest in a single day. Shibarium transactions have historically been flat until late November, and it recorded a parabolic shift with more than 700,000 transactions recorded in a day this year. Since then, there has been no slowing down, and the total transactions stealthily climbed to five million transactions and then the current figure of over seven million transactions. One underlying theme in Shibarium transaction growth is consistency, as even at the point where only a few thousand transactions were recorded, neither the explorer nor the protocol cringed. That Shibarium is now handling far more of a load than when it was first created underscores the great engineering work done to scale the protocol at its second rebirth properly. Shiba Inu (SHIB) price reaction The positive transaction milestone of Shibarium has translated to a relatively…

---

Filed under: News - @ December 4, 2023 9:20 am