Shiba Inu’s proof-of-stake blockchain Shibarium has grown by leaps and bounds, with a remarkable stride in user activity recently, particularly in terms of active accounts and new user registrations. In less than two months since its launch, the layer-2 scaling solution has come a long way, making significant progress in various aspects. As per data from Shibariumscan, the number of active accounts on the platform has surged from 498 to 783 within just one week, marking a roughly 45% increase.
Although this surge is worthy of attention, it is still halfway down from its previous high of 1,343 active accounts recorded on September 11. Yet, the platform continues to attract substantial new account creation, which has skyrocketed from 33 per day on October 4 to 96 at the time of writing, indicating a substantial rise of 191%. At present, Shibarium boasts a total of 26,920 registered accounts.
The surge in active accounts has significantly contributed to the total transactions processed on the network. The layer-2 protocol is just 3,746 transactions away from reaching a milestone of 3.4 million total transactions. Despite a recent dip in daily transaction count to around 10.5K, a significant drop from over 200K transactions recorded on September 12, the network has successfully processed 3,396,254 transactions, including token transfers and contract calls.
Not only that, the number of wallet addresses interacting with the L2 blockchain has crossed 1 million, reaching a total of 1,253,566 addresses. Shibarium has also generated an impressive 1,083,150 blocks, with an average block time of 5.0 seconds.
Shiba Inu: Shibarium’s Mainstream Advancement
Moreover, aside from these positive advancements, Shibarium has made consistent progress in its journey toward widespread acceptance, particularly through its recent partnership with Revoke.cash, a token approval management service, serves as a notable example. This collaboration is geared towards equipping Shiba Inu holders with powerful tools, ensuring the safeguarding of their assets, and providing control over their wallets. Ultimately, this strengthens the entire SHIB ecosystem, making it more resilient against potential fraudulent activities.
The increased engagement of users on Shibarium reflects a growing interest in the Shiba Inu ecosystem. However, the fluctuations in transaction counts and token staking highlight the unpredictable nature of the cryptocurrency market.