SHIBARIUM HIT 34 MILLION TRANSACTIONS
In a surprising turn of events, Shiba Inu-based Ethereum Layer-2 scaling solution Shibarium has witnessed a tremendous spike in transaction activity, leaving the SHIB community doubtful over the authenticity of the numbers.
The daily transaction record on Shibarium soared to 7.82 million, with total transactions surging from four million to 34.6 million since the start of December.
As Shibarium Transaction Reaches Stunning Milestone, SHIB Price Reacts Addressing the increasing speculation, Kaal Dhairya , a leading contributor and developer in the Shiba Inu ecosystem , took action to dispel doubts.
In a recent post, Dhairya delved into the unprecedented transactional activity on Shibarium, providing insights that shed light on the platform's capabilities.
Source: Shibariumscan Dhairya assured the community that the spike in transactions was not the result of spam, and emphasized the legitimacy of the operation. Despite a 1,000% increase in gas fees, normal transaction costs are just a fraction of a cent, while complex operating costs remain affordable.
He highlighted that rising fuel costs contributed to the exponential growth of burning, which effectively reduced the circulating supply of SHIB.
“Shibarium can and will scale” The lead developer also revealed that network utilization has never exceeded 60%, indicating Shibarium's capacity to grow as adoption increases during truly bullish market trends.
Remarkably, there were no outages or firefighting scenarios, although teams remained vigilant throughout the surge.
