Shiba Inu’s Shibarium Network Transactions Reach New Heights
The Shiba Inu ecosystem is celebrating a significant milestone achieved by its layer 2 network, Shibarium. The network’s transactions have recently surged to unprecedented levels, reaching a staggering 180 million. On December 24, the Shiba Inu blockchain network peaked at 7.82 million daily transactions, marking its highest volume since December 18, 2023.
According to reports, the Shibarium network has processed a total of approximately 184,861,076 transactions with an average block time of 5.0. This impressive figure was made possible by around 1,319,240 active addresses on the network.
This surge in activities and transactions highlights the robustness of the Shibarium network and its increasing popularity among Shiba Inu’s large user base. With this milestone achieved, attention towards Shibarium’s future potential grows as the cryptocurrency community eagerly awaits new developments and more record-breaking announcements.
Shibarium’s Accomplishments and Growth
In recent months, the Shibarium network has been experiencing massive transactional levels. Earlier in December, it surpassed a threshold of 100 million network transactions, propelling the Shiba Inu network into the spotlight.
Aside from its surge in transaction volume, Shibarium has achieved other significant milestones this month. The layer 2 blockchain successfully completed its first hard fork and migrated the Shibarium testnet to Sepolia. This new network aims to enhance scalability and reduce transactional costs.
Shiba Inu Burns SHIB Tokens
In another achievement for the Shiba Inu ecosystem, the Shibarium team executed their fourth SHIB burn. Approximately 8,471,583,707 SHIB tokens worth $90,307 were eliminated through this burn.
Shibburn, a SHIB burn tracker on X (formerly Twitter), reported this recent burn. Prior to this, the Shiba Inu team conducted a third burn that incinerated around 8.53 billion SHIB tokens. In less than 24 hours, a total of 17,005,148,400 SHIB tokens were removed from circulation.
Within just 18 days, the Shiba Inu team has burned over 33.8 billion SHIB tokens. This growing burn rate further demonstrates Shibarium’s ongoing success and reflects the team’s commitment to enhancing the token’s utility and sustainability.
Hot Take: Shibarium Network Sets New Records in Transactions and Token Burns
The Shibarium network within the Shiba Inu ecosystem is making waves with its remarkable achievements. Not only has it reached unprecedented transaction levels of 180 million, but it has also successfully executed multiple token burns, removing billions of SHIB tokens from circulation.
These milestones showcase Shibarium’s robustness and growing popularity among its extensive user base. As attention turns towards its future potential, the cryptocurrency community eagerly awaits new developments and record-breaking announcements from Shibarium.
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