Amidst the ongoing chaos in the broader cryptocurrency market, Shibarium, Shiba Inu’s L2 scaling solution, has seen a notable increase in adoption. This is evident in the rising number of daily transactions on the network, which had dropped below 6,000 on April 10. However, according to data from Shibariumscan, Shibarium’s daily transaction activity has since skyrocketed, reaching 562,980 at the time of writing.
With the daily transaction activity reaching approximately 562,980, the total transaction count now stands at 416,865,226 (416.86 million). It’s worth noting that Shibarium experienced a significant spike in transaction activity in December 2023, with an average of around 7.5 million transactions per day.
Additionally, since its mainnet launch in August 2023, the number of wallets that have interacted with Shibarium has reached 1,782,060 (1.78 million). Moreover, the network has successfully minted a total of 4,268,750 (4.26 million) blocks, with an average block time of 5.0 seconds.
In another milestone achievement, the number of Shibarium accounts has surpassed 100,000. Currently, Shibarium boasts a total of 100,694 accounts. However, out of these 100,000 accounts, only 1,018 were active in the past day. This reflects the overall sentiment in the crypto market following the significant drop in crypto prices. The daily peak for active accounts on Shibarium was observed on April 14, with a surge to 25,804. Notably, the network also experienced a recent surge in new accounts, with 13,314 joining on April 13.
Meanwhile, the total value locked (TVL) across all Shibarium-based decentralized finance platforms currently stands at around $2.64 million. Out of this amount, the decentralized exchange WoofSwap accounts for $1.75 million. However, Shibarium’s TVL has declined from its all-time high of $3.9 million, recorded on March 26, due to the significant drop in crypto prices. For example, SHIB has seen a 19.0% decrease in the past two weeks, while BONE has also dipped by 19.1% in the same time frame.
On the other hand, users have staked over 22 million BONE tokens on Shibarium. On-chain data reveals that the Shiba Inu community has delegated a staggering 22,974,034.1842 (22.97 million) BONE tokens across 12 Shibarium validators. Notably, ShibArmy America ranks as the top Shibarium validator, with 5,567,868 (5.56 million) BONE tokens staked. Unification follows closely as the second-highest validator with 4,244,990 (4.24 million) staked BONE tokens.
ShibArmy Europe, 42069, and ShibArmy Asia secure the third, fourth, and fifth positions, respectively, in terms of the highest number of staked BONE tokens. The number of BONE tokens staked across these validators are 2,758,259 (2.75 million), 2,632,903 (2.63 million), and 2,492,579 (2.4 million), respectively.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial advice. The views expressed in this article are solely those of the author and do not necessarily reflect the opinions of The Crypto Basic. Readers are advised to conduct their own research and make investment decisions based on their findings. The Crypto Basic is not responsible for any financial losses incurred.
