Shiba Inu Shibarium network’s layer-2 scaling solution has reached a new milestone of over 5 million transactions.
Aiming to increase the efficiency of transactions on the network Shibarium recorded a huge increase in activity with 748,000+ transactions recorded in a single day. This increase represents a huge increase compared to just 16.63 transactions recorded the previous day.
Shiba Inu recorded nearly 35,000 transactions on Tuesday, followed by over 29,000 transactions on Wednesday. This increase marks the highest peak in transaction volume since October 25, when Shibarium broke a record with 62,000 transactions.
Earlier this month, the platform experienced a significant increase in activity, but no comparable growth to current levels. This revival is being interpreted as a positive sign for Shibarium, especially considering its previous lows where daily transactions once fell below 10,000.
Aside from the impressive number of transactions, Shibarium’s overall statistics indicate a strong and expanding ecosystem. The total number of transactions increased to 5.234 million. Shibarium currently hosts more than 30,369 accounts and 1.277 million addresses.
Shiba Inu has processed over 301,237 BONE transfers and supports a variety of 8,575 tokens. With 1.883 million blocks mined and 14,299 contracts distributed, Shibarium has established itself as a major player in the DeFi space.