According to U.Today, Shibarium, the Layer-2 blockchain of the popular meme cryptocurrency Shiba Inu, has been experiencing a significant drop in transaction activity for almost a month. The decline is nearly 100% compared to the high of 562,990 daily transactions recorded on April 17, with the current number standing at just 16,800. Despite this, the total number of transactions continues to grow slowly, with 417,469,578 transfers made since the blockchain's launch in August last year.
Shytoshi Kusama, the enigmatic leader of Shiba Inu, announced earlier this week the launch of a new version of the ShibaSwap DEX and its bridging to Shibarium from the Ethereum chain. This move allows users to access a wide range of products and services on both blockchains, which could partly explain the low level of transaction activity on Shibarium at present.
In related news, Lucie, the official marketing lead of the SHIB team, recently tested the Grok AI bot about its knowledge of the ShibaSwap DEX launching on Shibarium. The AI humorously likened the expansion of the DEX from Ethereum to Shibarium to 'moving from a crowded city to a peaceful suburb with better infrastructure and lower fees.' According to Grok, this move will result in 'faster transactions and lower costs for all you SHIB enthusiasts out there.'
Grok also highlighted what it believes to be 'the most exciting feature' of ShibaSwap, which is the ability to create new liquidity pools on Shibarium. Another new feature brought by the DEX to Shibarium is discovery charts and trending tokens. In conclusion, Grok stated that 'the new and improved ShibaSwap on Shibarium offers faster transactions, lower fees, new liquidity pools, and enhanced token discovery.'