As revealed thanks to Shibariumscan data, the number
of new accounts added to Shibarium, the layer 2 blockchain rollup
designed for the ecosystem around the popular Shiba Inu cryptocurrency
(SHIB), saw an impressive surge on the last day of September. In
In just 24 hours, the number of new accounts literally jumped 2,350%, from
20 new accounts per day for 470.
The reason for such a parabolic rise remains unknown,
but as a result, the total number of active accounts on the Shibarium network
reached 943.
Of course, this increase in activity had a ripple effect on
other blockchain metrics. Probably the most important, the number of
new transactions, soared by 214% in the period under analysis, from 3,190 to
6.826.
Interestingly, however, the metrics that report rates and
network revenues remained almost unchanged. For example, the
total amount of BONE spent on gas fees, which is characterized by
"Transaction Fees" statistic, increased only 36.57%.
But where is the economic effect?
This may all seem like a lot, but when compared to
number of new accounts that flooded the Shiba Inu blockchain, it becomes clear
that these newcomers have not had many interactions with their own
chain.
The logic behind the transaction process in Shibarium is
that the user spends BONE in fees and then a portion of those fees is
converted to SHIB and then these SHIB tokens are burned.
Basically, the logic behind Shibarium is to make the
Shiba Inu token more scarce and deflationary, and if users arrive,
but do not interact, the whole point of the blockchain becomes just one
useless consumption of energy.
