The post Shiba Inu’s Shibarium Teases 420 Million Transaction Milestone As Daily Transactions Jump 50% appeared on BitcoinEthereumNews.com.

Shibarium, the Ethereum Layer 2 network developed by the Shiba Inu team, has seen some remarkable growth since it launched in 2023. With the continuous usage, the network is on its way to reaching a new major milestone amid a notable 50% in its daily transactions. Shibarium Almost At 420 Million Transactions According to data from Shibariumscan, the total number of transactions that have been carried out since inception is nearing 420 million. At the time of writing, the figure is sitting just above 417.53 million, which means the network has achieved this feat in nine months, after launching in August 2023. This comes amid a jump in the daily transaction volume, signaling a  interest in the Shibarium network. The daily transactions had retraced to 10,904 on Tuesday after initially rising to 18,554 on Monday, its second-highest daily figure in the month of May so far. However, on Wednesday, the network’s transaction saw a 50% jump from Tuesday’s lows, rising to 15,414. With these figures and the network’s performance over the last month, its average daily transactions now sit somewhere around 9,000. If this average holds going forward, it could take the network around 8 months to hit the 2.5 million transactions left to hit the 420 million milestone. However, with the bull market raging on and crypto participation rises, it is possible that Shibarium does begin to see higher adoption. In that case, the Ethereum Layer 2 network could be hitting this milestone very soon. Where Is The Shiba Inu Price Headed? The negative performance of the Shibarium network seems to have moved onto the Shiba Inu price as the meme coin despite the crypto market recovery. The meme coin’s price is down 2.55% in the last day, amid a massive decline in its daily trading volume. Its trading…

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Filed under: News - @ May 24, 2024 2:24 am