SHIB Surges as Shibarium Beta Bridge Goes Live

SHIB Surges as Shibarium Beta Bridge Goes Live for Testing

Amidst a lack of bullish cues in the market, SHIB rose by almost 6% over the past day, which pushed its monthly gains to nearly 12%. The meme coin’s surge can be attributed to the Shibarium Beta Bridge, which went live for public testing this week. The move is part of an ambitious roadmap that seeks to transform the Shiba Inu project into a complete ecosystem.

Main Breakdowns:

The Shibarium Bridge beta version was released for public testing, allowing users to transfer tokens between networks.
The bridge initially focuses on transferring testnet ether tokens to the layer-2 network, with each transfer taking up to 30 minutes.
The bridge is compatible with the ERC-20 token standard and aims to enhance scalability.
Shibarium is slated to go live after a Toronto conference in August and is expected to increase throughput and transaction speed.
Shibarium will leverage four tokens, BONE, TREAT, SHIB, and LEASH, for applications developed on top of the blockchain.

Despite concerns in March, Shibarium is seen as crucial for SHIB to compete in the Web3 space. The addition of layer-2 and improved transaction speed can attract more users and handle significant growth.

Hot Take:

The launch of the Shibarium Beta Bridge for public testing has given SHIB a boost, leading to a surge in its value. With the upcoming full release of Shibarium and its focus on enhancing scalability and transaction speed, SHIB has the potential to become a serious contender in the Web3 space. As the project attracts more users and handles significant growth, its value is expected to rise even further.