Shibarium Back Online After Resolving Bridge Glitch, Team Thanks Polygon Co-Founder
Shibarium, a popular crypto platform, faced a major issue with over $2 million in deposits trapped in its bridge. However, the problem has been resolved, and Shibarium’s layer two (L2) is back in action. The Polygon team, led by Sandeep Nailwal, played a crucial role in resolving the situation, providing additional resources to ensure a perfect outcome. Here are the key points:
- Transfers involving SHIB, LEASH, and WETH will take 45 minutes to 3 hours, while a BONE withdrawal may take up to seven days.
- SHIB’s value dropped by 14.9% against the U.S. dollar in recent weeks but has risen by over 6% in the last seven days following positive updates from the Grayscale lawsuit.
- SHIB is now the second-largest meme coin by market cap and ranks 16th in the global crypto market, with a market valuation of approximately $4.94 billion.
- Shibarium has 157,685 wallets, with 358,738 blocks mined and over 490,000 transactions logged. On August 25, 2023, alone, more than 132,000 transactions took place.
Shibarium’s successful resolution of the bridge glitch and the support from the Polygon team demonstrate their commitment to user satisfaction. With the platform back online, users can continue to trade and engage with the SHIB ecosystem.
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