In a thrilling turn of events, Shibarium’s transactions in total have surpassed the 400 million limit. This exciting news was made known by Lucie, Shiba Inu’s marketing lead in a post on the X platform.
She congratulated all Shibarium users for assisting the L2 network in achieving this remarkable milestone.
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Congratulation to everyone on #Shibarium !
400 M transactions! pic.twitter.com/zVYJmgX98A— ๐๐๐๐๐ | SHIB.IO ๐ง๐ผโโ๏ธ (@LucieSHIB) March 7, 2024
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Shibarium Recent Achievement
As per information shared by Lucie today, Shibarium had handled a total transaction of 400,096,901 (400.09 million). interestingly, the figure has soared to 400,253,293 (400.25 million) in the hours of composing.
Notwithstanding recording a huge plunge in day-to-day transactions, Shibarium has outperformed the 400 million transaction limit.
Recall that In December, Shibarium found the middle value in the range of 5 and 7.5 million everyday exchanges.
Nonetheless, the number of everyday transactions plunged recently to around 1 million. At press time, Shibarium brags a daily transaction of 1.81 million.
The astounding surge in transactions comes under seven months after Shibarium’s launchย on the mainnet. Recall that the mainnet rendition of Shibarium had an unpleasant beginning that saw it go offline for two weeks.
Regardless of the misfortune, Shibarium was yet able to attract outstanding accomplishments, particularly concerning adoption. As revealed before, Shibarium hit 1M addresses on the mainnet in only 18 days after its launch, quicker than other L2 networks like zkSync, Optimism, and Arbitrum, which took 71, 191, and 303 days to accomplish a similar achievement.
Force Behind Increased Transaction Volume
One central point supporting Shibarium’s transaction volume is its low fees. the amount users are expected to pay is as low as 0.0000219 BONE ($0.000021) in each transaction, which is a lot lower than what most prominent blockchains, including Bitcoin and Ethereum charge.
One more factor that assumed an essential part in supporting Shibarium’s transaction is Shiba Inu’s devoted community members. These fans have added to the massive adoption of Shiba Inu projects, including Shibarium. They either persuade individuals to utilize Shibarium or become users themselves.
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Other Exciting Factors
In the interim, other Shibarium factors are a record of 3.54 million total blocks with an average block time of 5.0 seconds, 1.36 million wallets, 65,130 total accounts, 15,553 contracts, and 9,316 tokens have been deployed.
Moreover, the total value locked (TVL) on Shibarium is presently above $1 million. Data from DeFiLlama shows that the network TVL had increased to $2.25 million on March 5, when SHIB spiked above $0.00004.
Following the recent correction across the broader market, Shibarium’s TVL at present stands at $1.75 million.
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