Shibarium network surpasses 2 million wallet addresses, processing 620+ million transactions with a 5-second average block time.
Shibarium generates over 8.2 million blocks and handles 4 million transactions daily, showcasing scalability and efficiency.
SHIB token price rose 20.47% in a month, driven by 3 billion SHIB burned and Shibarium’s ecosystem growth.
The Ethereum-based Layer-2 scaling solution, Shibarium, has reached a significant milestone by surpassing 2 million wallet addresses on its network. According to data from Shibariumscan, the total number of registered addresses now stands at 2,003,042. This milestone, achieved within 16 months of its launch, highlights the rapid growth and adoption of the Shibarium ecosystem.
Network Performance Metrics Highlight Strong Growth
Notably, the Shibarium network has maintained impressive performance metrics throughout its development. It has processed over 620 million transactions, with an average block time of five seconds.
More so, the network processes approximately 4 million transactions daily, showcasing its efficiency and scalability. Recently, Shibarium crossed the 500 million transaction mark in November and has since continued to build on this momentum.
In addition to its transaction volume, Shibarium has produced more than 8.2 million blocks, emphasizing its capability to handle high demand. These achievements position Shibarium as a pivotal component of the Shiba Inu ecosystem, enabling faster and more cost-effective transactions for its users.
Strategic Partnerships Propel Ecosystem Expansion
Moreover, the growth of Shibarium is also attributed to the contributions of its ecosystem partners. Developer Kaal Dhairya acknowledged the role of Zama, a key partner, in advancing Shibarium’s capabilities. Zama’s introduction of the fhEVM Coprocessor has further enhanced the ecosystem’s efficiency and performance.
I'm incredibly proud of our partners at @zama_fhe for introducing the #fhEVM coprocessor, paving the way for confidential and verifiable onchain experiences. My protocol team is working closely with @zama_fhe incredibly talented team to bring this groundbreaking vision straight…— Kaal (@kaaldhairya) December 6, 2024
As Shibarium continues to gain traction, it strengthens the Shiba Inu ecosystem, allowing it to extend its influence beyond its origins as a memecoin. This progression underscores the evolving nature of blockchain technology and its ability to foster innovation in decentralized systems.
Shiba Inu Token Gains Momentum Amid Ecosystem Growth
Consequently, the progress within the Shibarium network has positively influenced the Shiba Inu token (SHIB). The token’s price recently rose by 3.75% to $0.00003232, reflecting growing investor confidence. Over the past month, SHIB has experienced a 20.47% increase in value, fueled by several factors, including a notable burn rate.
Furthermore, over 3 billion SHIB tokens were burned in the past week, reducing supply and driving demand. This momentum, coupled with the Shibarium milestones, has contributed to Shiba Inu’s status as the second-largest memecoin by market capitalization.