Disclaimer: The opinions expressed by our writers are their own and do not represent the opinions of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
Shibarium, an Ethereum-based layer 2 scaling solution for the Shiba Inu, has raised its average daily transactions to an even higher level. according to Data From Shibariumscan, the protocol is now averaging 4.77 million transactions. That's just 300,000 transactions away from the average of 5.0 million.
Record growth in Shibarium
Meanwhile, total transactions on Shibarium now stand at 735,432,733.
This number is more than 35 million, more than the 700 million set by the United States today Expected In a previous report.
Related to
Interestingly, Shibarium has reached 700 million days Christmas day. This important achievement supports the strong user engagement of community members. Increased transactions also indicate trust on the part of users.
If it does not change and continues on the same path, it is possible to push current transaction expectations to new levels. Analysts expect 10 million daily transactions before the end of the first quarter of 2025. This prediction is based on its current performance.
There was also a significant increase in total block production in December. Shibarium masses grew from 8.46 million to 8.7 million.
These growth numbers in the protocol highlight the positive momentum of the Shiba Inu ecosystem. It indicates a likely better performance as the broader cryptocurrency sector expects to be bullish in the coming weeks.
SHIB price amid positive ecosystem developments
Shiba Inu (SHIB) has not performed well, and the meme coin is seeing price volatility after bouncing to $0.00002177. The token rose on the back of the daily burn mechanism as investor confidence grew.
Related to
However, in the face of market dynamics and a significant 35.62% decline in trading volume to $346.36 million, the value of the asset also declined. As of this writing, data shows that SHIB is trading at $0.00002081, represents Down 1.84% over the past 24 hours.
Market participants are looking forward to... Chitoshi Kusamathe main developer of the Shiba Inu, unveils its plans for 2025. More importantly, there is an expectation that such an update may translate into an increase in the price value of SHIB.
Source link