Shiba Inu’s Second-Layer Network, Shibarium, Hits Massive Milestone in Transaction Volume
Lucie, the self-proclaimed name of the Twitter user, proudly tweeted that Shibarium, the second-layer network of Shiba Inu, has reached a significant milestone in total transaction count and other key metrics in the past 24 hours. Shiba Inu’s price increased by 4.21% during this period.
Lucie shared a screenshot from the Shibariumscan explorer, displaying that the total transaction count has surpassed 150 million and currently stands at 151,107,552. Shibarium has achieved remarkable growth within a relatively short timeframe of just over four months since its launch and relaunch in August.
The astonishing increase in transaction volume is worth noting. Just two weeks ago, the total transaction count was 34 million, indicating an almost fivefold increase within fourteen days.
As reported by chinwa.tech on Tuesday, the surge in transaction count within the past 24 hours has been impressive.
The daily number of transactions on the Shibarium blockchain is also high, with 7,780,000 transactions recorded. This level has remained relatively stable since December 2nd, when a sudden significant increase was observed.
The total number of blocks in Shibarium has reached 2,215,473 so far, with an average block creation time of 5 seconds.
This rapid increase in transaction count can be attributed to various factors, including the SHIB development team testing new features or stress-testing the Shibarium infrastructure, increased user activity, or a slight increase in transaction facilities within the SHIB ecosystem.
The significant surge in transactions means that the SHIB development team has a substantial amount of BONE tokens to burn, indirectly, in the form of Shiba Inu coins, as emphasized by the lead developer, Shytoshi Kusama, in his Twitter comment last week. Recently, a massive amount of SHIB, over 8 billion tokens, was burned in a single move by the developers. Shortly before that, they also transferred nearly 8.2 billion SHIB to non-spendable blockchain addresses.
READ MORE Unprecedented Surge: 4.8 Trillion SHIB Flows to Whale Wallets in 24 Hours"
Several more significant SHIB burning operations are planned by the end of the year, where the aforementioned BONE tokens will be converted into Shiba Inu and permanently sent out of circulation.
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