Shiba Inu Layer-2 scaling solution Shibariumcontinues to attract attention by achieving another success in the DeFi world.
According to DeFiLlama data, the total value locked (TVL) on Shibarium reached the $1 million level on December 22. This data was last recorded on September 6, 2023. However, it remains 23% lower than the $1.47 million TVL recorded on August 30.
For context, TVL is a metric that represents the total value of digital assets staked or locked on a particular blockchain network through decentralized finance (DeFi) platforms.
According to DeFiLlama data, Shibarium has a total of 14 decentralized finance platforms. While 12 of these 14 DeFi platforms have contributed positively to TVL, the remaining two projects have not yet contributed anything. MARSWAP was the network’s top contributor to TVL, accounting for approximately 64.56% of the overall total.
Other DeFi platforms that have contributed positively to Shibarium’s total value locked include ChewySwap, DogSwap, PunkSwap, WoofSwap, Shibex, LeetSwap, Woof Finance, Dalmatian, Ball Exchange, Chocolnu, and ComfySwap.
One of the most important reasons for this increase in TVL is Shiba Inu It is possible to note that there is an increase in the price.
As Koinfinans.com reported, in addition to the increase in TVL, Shibarium also recorded impressive growth in several aspects this month. The network has been processing an average of over 5 million daily transactions since early December.