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Bullish Shiba Inu (SHIB) News: Shibarium Indicator Spikes by Over 530% in 24 Hours

20.09.2023
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The recently launched layer-2 scaling solution of Shiba Inu – Shibarium – continues to gain steam, witnessing transaction growth and achieving new milestones on a regular basis.

In the lines below, we will touch upon the latest development that occurred on the network.

Shibarium Saw a 530% Increase in Newly Verified Contracts

According to Shibariumscan data, the total number of newly verified contracts has skyrocketed by approximately 533% in a matter of 24 hours. Such contracts were only 3 on September 17, whereas the figure rose to 19 the following day.

New Verified Contracts, Source: Shibariumscan

In addition, verified contracts growth has tapped 416. In comparison, that number was only 55 at the start of September.

The L2 scaling solution, which went live at the end of August, was met with huge enthusiasm from the crypto community. The overall number of wallets on the network surpassed the 1 million mark approximately two weeks ago, with the figure currently standing at 1,247,000 million.

Total transactions on Shibarium are approaching the 3 million milestone. As of the moment of writing these lines, they equal 2.84 million.

What is Shibarium’s Purpose?

The L2 blockchain network aims to establish a robust ecosystem built on Ethereum for Shiba Inu. Its main goal is to aid the advancement of the memecoin and elevate it above its rivals by providing a dedicated network to transact and build applications. .

CryptoPotato made a whole video on the topic so those who wish to understand more about Shibarium and its specifics could do so by clicking on the clip below:

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Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

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