Shibarium Transactions Plummeted Before Rebound
You probably know that Shiba Inu’s layer-2 scaling solution, Shibarium, has recently seen its number of daily transactions plunged from around 2.5 million transactions per day to 500,000 in a short-lived slowdown, before it the number of daily transactions rebounded to 2 million.
Approaching 350 Million Transactions
At the same time, the cryptocurrency’s layer-2 network is approaching the 350 million total transaction mark, having already processed over 3.1 million blocks with an average block time of little over 5 seconds. The network currently has 1.35 million wallet addresses on it.
Price Struggles Despite Wallet Growth
Despite Shibarium’s growing adoption, the meme-inspired cryptocurrency’s price has failed to keep up with the wider cryptocurrency market, having falling over 26% over the past 12 motnths and nearly 5% in the last 30 days. Investors nevertheless appear to be betting on the meme-inspired cryptocurrency, with a prominent SHIB communit members recently pointing out that data from showed that the commission-free trading platform Robinhood (NASDAQ: HOOD) currently has 36.684 trillion SHIB tokens in its wallet.
Robinhood Adds Billions of Tokens in One Day
The data shows that in a single day, the trading platform’s Shiba Inu wallet added an additional 231 billion tokens, seemingly as investors on the platform are accumulating the meme-inspired cryptocurrency, adding to its wallet. Cryptocurrency exchange wallets don’t represent the holdings of the trading platform itself, but rather represent the holdings of its users.
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