Layer-2 blockchain Shibarium continues to soar towards new highs. It is now approaching a new historical utility milestone, despite the sharp decline in on-chain activity observed recently. Meanwhile, Shiba Inu Its price has increased impressively since Friday, following a decline of 6.12%.
Number of Shibarium Transactions Continues to Increase
The total number of Shibarium transactions is approaching a very significant level of 300,000,000 transfers. At the time of writing, this metric shows a total of 296,505,213. This means a growth of approximately 2 million since Friday, when the number of transfers was 294,766,260.
With this, ShibariumThe number of transactions generated daily continues to decrease. While there are currently 1.96 million daily transfers, this figure was over 2 million last week. The highest peak of daily transfers was observed at the end of December, when it reached 7.52 million transfers per day.
The number of blockchain wallets connected to Shibarium has also increased slightly, to less than 100 since Friday. At the time of writing, this measurement shows 1,342,384. two days ago big cryptocurrency When exchange Gate.io announced the integration of the Shibarium blockchain, this Layer-2 network saw a staggering 210.4% increase in transactions, with the daily count also jumping from 1.16 million to 2.43 million.
The current decline in on-chain activity was recently addressed by Lucie, social media marketing lead for the Shiba Inu team. In a statement on Twitter/X, he explained that currently the SHIB team is busy implementing new updates and improvements, so “there may be some issues.”
Shiba Inu Price Is Recovering
Koinfinans.com As we reported, SHIB price increased by 6.18% in the last 24 hours. It has now reached $0.00000946. This price increase follows a decline of approximately 6.5% on Friday. Overall, since last Thursday, SHIB has experienced a massive decline of 14.89%, dropping from $0.00001047 and adding another zero to its price. The drop comes after the SEC approved spot Bitcoin exchange-traded funds. The leading cryptocurrency Bitcoin rose first. However, as many analysts predicted, this reversed and began a sharp decline. The rest of the cryptocurrency market followed suit.