Shiba Inu’s Layer-2 Solution Drives Growth and Staking
Shiba Inu’s layer-2 scaling solution, Shibarium, is experiencing rapid growth, resulting in increased staking for the altcoin used for gas fees. According to data from Shibariumscan, the total number of transactions on Shibarium has exceeded 2.5 million, with daily transactions surpassing 200,000. The protocol has also witnessed over 1.2 million unique wallet addresses using its services.
Shibarium recently achieved a milestone of over 27.1 million Bone Shibaswap (BONE). The team behind Shibarium aims to establish it as one of the fastest and most affordable layer-2 networks available.
In August, Shibarium faced technical issues due to high user activity, causing significant crypto assets to become stuck over its Ethereum bridge. However, the platform returned with a new monitoring system to address network traffic surges.
Current Trading Prices
As of now, SHIB is trading at $0.000007, while BONE is priced at $0.832.
Hot Take: Shiba Inu’s Layer-2 Success Signals Promising Future
The explosive growth of Shiba Inu’s layer-2 blockchain solution, Shibarium, demonstrates its potential in the crypto market. With millions of transactions and wallet addresses, Shibarium is solidifying its position as a leading layer-2 protocol. The team’s dedication to maintaining fast and cost-effective gas fees ensures user satisfaction.
Despite initial technical challenges, Shibarium has overcome them with an improved monitoring system. This success bodes well for the future development and adoption of Shiba Inu’s ecosystem.
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