Shiba

Bone

Bone ShibaSwap

Shiba Inu

Daily

Shiba Inu layer 2 blockchain platform <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-shibarium-milestone/" target="_blank" rel="noopener ">Shibarium</a>, has witnessed a notable surge in transaction activity carried out on the platform, with its daily transaction performance reaching a new monthly high. 
<h2 id="shibarium-daily-transactions-skyrocket">Shibarium Daily Transactions Skyrocket</h2> 
The number of transactions on the layer 2 blockchain has skyrocketed since Shibarium was introduced, surpassing multiple noteworthy benchmarks. Recent <a href="https://www.shibariumscan.io/" target="_blank" rel="noopener nofollow">data </a>from Shibariumscan has revealed an uptick in daily transactions, soaring to about 3 million. 
The rise in <a href="https://www.newsbtc.com/news/shibarium-shatters-records-2-million-transactions-in-a-day-after-major-exchange-embraces-shiba-inu-l2/" target="_blank" rel="noopener ">daily transactions</a> to the coveted 3 million milestone marks the highest the network has seen this month. This comes weeks after the number of daily transactions on the network plummeted to about 1.07 million. 
Consequently, the notable rise showcases how quickly Shibarium has spread and gained widespread recognition in the past few weeks. This appears to be a significant development. However, it is still below the highest level it recorded in December.&nbsp; 
Shibarium has seen large increases in network activity before when its daily transactions reached a peak of around 7.5 million. After crossing the 7 million mark, it managed to maintain above this level for a month before <a href="https://www.newsbtc.com/shiba-inu/shibarium-shiba-inu-price-wobbles/" target="_blank" rel="noopener ">dropping by almost 50%</a> in January.&nbsp; 
Data from the Shibarium tracker also shows that the network has reached a major milestone in its overall transactions. According to Shibariumscan, the total number of transactions recorded on the platform since its launch has surpassed 357 million. 
It is worth noting that Shibarium’s performance goes beyond the network’s transactions. There have been over 3.27 million blocks processed on the blockchain, suggesting a crucial increase in demand for scalable features. 
Furthermore, the overall number of interacting wallet addresses recorded in the network has now crossed 1.35 million. In addition, the network utilization is up by over 51%, indicating an increase in adoption. 
Due to this sharp rise in Shibarium network activity, investors’ interest in Shiba Inu is expected to increase. Hence, it buttresses all other projects and crypto assets in the SHIB ecosystem. 
<h2 id="shiba-inu-team-to-burn-top-shibarium-tokens">Shiba Inu Team To Burn Top Shibarium Tokens&nbsp;</h2> 
Lucie, Shiba Inu’s head of marketing, has revealed the team’s plan to burn SHIB and several other top Shibarium tokens. She took to the X platform to <a href="https://x.com/LucieSHIB/status/1758838111356735583?s=20" target="_blank" rel="noopener nofollow">share</a> the development with the SHIB community. 
Lucie noted that funds made from the sale of the new NFT collection Shiboshis will be used to burn the tokens. These include <a href="https://www.newsbtc.com/press-releases/why-shiba-inu-has-been-falling-for-two-months-hedera-eos-challenger-viewed-favorably-by-market-analysts/" target="_blank" rel="noopener ">Shiba Inu (SHIB)</a>, Bone ShibaSwap (BONE), LEASH, TREAT, and SHI. 
Specifically, any Shiboshis that the holders fail to claim will be sent to Uniswap for sale. Then, the <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-team-shib-bone-burns/" target="_blank" rel="noopener ">Shiba Inu team</a> will use 10% of the total realized funds from those sales to burn the tokens. 4% of the funds will be set aside to burn BONE, LEASH, TREAT, and SHI, while 6% will be used to burn SHIB. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/6J4zy9Jh/" alt="Shiba Inu" width="2273" height="1351">

Shiba Inu: Shibarium Transaction Activity Spike Amid Market Growth

Table of Contents

NewsBTC

Other articles published on Feb 20, 2024

BlockDAG Grab Attention Millions of Dollars— Manta Pumps: Will Polygon (MATIC) List On Binance, R...

Hong Kong Pushes for Tokenization of Real-World Assets

AllianceBlock Transforms into Nexera Foundation, Unveils Nexera Finance Boosting Future of Tokeni...

5 Best AI-Based Altcoins To Buy Ahead Of 2024 Bull Run

CME Group Set to Launch Innovative Micro Euro-Denominated Bitcoin and Ether Futures

ICP Price Prediction: Will ICP Shoot Above $16, Amid a Pullback?

Join our free newsletter for daily crypto updates!