Shibarium, the Shiba Inu Layer-2 scaling solution, has achieved a significant milestone with nearly half a billion transactions since its launch. Built on the Ethereum blockchain and backed by the Shiba Inu (SHIB) ecosystem, Shibarium has shown remarkable growth on its mainnet. According to data from Shibariumscan, the platform has processed over 500 million transactions, reaching a total of 500,623,178.
Shibarium as a Catalyst for Growth
Launched in August 2023 as a Layer-2 scaling solution, Shibarium initially faced challenges, but this recent milestone has sparked discussions on platform X (formerly Twitter). Less than a month ago, Shibarium saw a significant boost thanks to the Shiboshi NFT update, which drove massive adoption within the ecosystem.
The deployment of the NFT bridge on the mainnet triggered a surge in transactions, rising from thousands to millions daily. Currently, daily transaction volume stands at 4.69 million, with at least 2,227 transactions occurring each hour. This milestone was also acknowledged by Kaal Dhairya, one of the lead developers.
According to Shibariumscan data, Shibarium now has a total of 7,849,660 blocks and 1,889,496 wallet addresses. As the protocol continues to grow, it is expected to soon rival other Layer-2 platforms like Base and Optimism.
Shiba Inu’s Reaction – Will It Impact Market Value?
The Shiba Inu memecoin has also responded to this ecosystem milestone, highlighting the overall growth of the project. As of this writing, SHIB’s price is at $0.0000264, marking a 3.39% decrease over the past 24 hours. During this period, SHIB traded between a low of $0.00002457 and a high of $0.0000303.
While the token may see an upward trend, SHIB has benefited significantly from Bitcoin’s price boom over the past week, holding on to an overall gain of more than 48%. Given that SHIB’s price is largely influenced by broader market trends, a quicker recovery could be anticipated.
Shiba Inu’s Development Vision: A “Silicon Valley for Cryptocurrency”
Meanwhile, lead developer Shytoshi Kusama has been focused on his SH.IB proposal, aiming to create a “Silicon Valley for cryptocurrency.” He recently presented this idea to Elon Musk, hoping to gain support from the Donald Trump administration as well.
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