However, Shibarium, the Shiba Inu-backed Ethereum Layer-2 scaling solution, shows a mixed growth outlook, trending to reach a major milestone soon. By According to data from its dedicated explorer Shibariumscan, the L2 protocol aims to reach the total production milestone of 5,000,000 blocks.
However, Shibarium, the Shiba Inu-backed Ethereum Layer-2 scaling solution, shows a mixed growth outlook, trending to reach a major milestone soon. By According to data from its dedicated explorer Shibariumscan, the L2 protocol aims to reach the total production milestone of 5,000,000 blocks.
Shibarium’s erratic statistics
Since its inception, Shibarium has maintained a steady pace of growth across all key metrics except its erratic daily transaction count. Despite powering one of the most vibrant Web3 ecosystems, its average daily transaction count has dropped from at least 1 million in Q4 2023 to just 5,150 today.
Gamza KhanzadaevDespite this epic drop, block production remains stable. As of this writing, a total of 4,900,607 blocks have been produced on Shibarium, leaving only 99,393 blocks to reach the 5 million milestone. At the current pace, it is likely to reach this record before the end of this second quarter.
Other crucial information about Shibarium is the total transactions and wallet address characteristics. While the total transactions amount to 417,549,926, the wallet address count is set at 1,803,996. This data shows that Shibarium is thriving within its own dApp ecosystem.
Boosting Shibarium with ShibaSwap
Since its inception in August 2023, Shibarium has charted its course of growth primarily organically. This is about to change as the protocol has welcomed ShibaSwap, its dominant decentralized exchange (DEX).
Yuri MolchanAs an exchange with many unique visitors, the expectation is that in the long term, ShibaSwap can help drive transaction bounce and attract new users to the Shibarium ecosystem.
With the Ethereum L2 ecosystem seeing intense competition, Shibarium is considering competing following its latest mainnet hard fork event. With faster speed, predictable gas cost and transaction performance, reaching the anticipated milestone seems inevitable.
