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Shibariumthe Shiba Inu (SHIB) Layer 2 blockchain solution has achieved a significant milestone. While the world celebrates Christmas Day, Shibarium rose Transactions past 700 million. This refers to the total number of transactions executed using the protocol.
Growth of Shibarium Transactions
According to Shibariumscan, the total number of registered transactions now stands at 702,299,255. The protocol has an average daily transaction of 4.51 million. These numbers come from 2,021,932 wallet addresses on the blockchain.
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The new Shibarium transaction milestone is notable, given that the ecosystem was officially launched in August 2023. Achieving this level of transaction volume in less than 18 months indicates strong participation by users from the community. Additionally, the growth came within a week of the previous one U.Today report Reference to the teacher.
Other notable developments in the protocol include the launch of a new user interface for improved compatibility with popular self-custodial wallets such as Coinbase Wallet, Trust Wallet, metamask.
The primary focus of the protocol includes promoting the development of the SHIB ecosystem by reducing transaction costs, enhancing scalability, and improving speed. These goals may have contributed to the recent breakthrough in transaction volume.
It is worth noting the Shibarium upgrade, which allows developers in the community to achieve faster block processing time.
Analysts' expectations regarding SHIB's momentum
Interestingly, this milestone of over 700 million transactions coincides with a slight rise in the price of the Shiba Inu.
As of this writing, SHIB is exchange The stock price is $0.00002305, up 3.52% in the past 24 hours. Investor confidence remains high and rising, with market volume up 15.78% to $707.72 million.
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Despite the bullish sentiment, SHIB achieved this price rise at a huge cost of over seven million SHIB sent to dead wallets. according to Data From SHIB, in the last 24 hours, 7,309,654 SHIB tokens have been burned to manage supply and price value.
Analysts believe that if SHIB maintains the current momentum, a significant rally could occur for the dog-themed meme coin.
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