Shiba Inu The total number of transactions on Layer-2 blockchain Shibarium exceeds 4 million and is also recording significant growth in different metrics.
Just three months after its launch, the total number of transactions on Shibarium has grown significantly, exceeding 4 million. According to data from Shibariumscan, the network’s total number of transactions is currently around 4,126,333.
Shibarium achieved this significant success just three months after its launch. As Koinfinans.com reported, the layer-2 blockchain was launched on August 16. However, after encountering a technical glitch that lasted more than two weeks, it went into breakdown mode and wasn’t off to a good start.
Following the mainnet relaunch in late August, Shibarium continued to record a large increase in activity, as reflected in the total number of transactions.
Apart from the increase in total transactions, the network continues to see growth in various aspects, including the number of wallets and blocks produced. The number of wallets interacting with the network is approaching 1.3 million.
Additionally, the Shiba Inu layer-2 network has generated a total of 1,787,717 blocks since its inception. ShibariumIt is also described as one of the most scalable layer-2 solutions on Ethereum, with an average block time of 5.0 seconds.
Additionally, the network’s daily transaction count increased from 8,930 recorded on November 19 to 43,690 at press time.
Shiba Inu’s growth in the decentralized finance (DeFi) ecosystem also continues. According to data from DeFiLlama, the Shibarium network currently has a total value locked (TVL) of $670,511.
As Shytoshi Kusama makes significant moves to integrate the network into crypto exchanges, a strong growth in the activities of the Shiba Inu layer-2 network is quite possible.