Shibarium passes huge new utility milestones

Shibarium passes huge new utility milestones

The Shibarium Layer 2 blockchain continues to expand in terms of utility as readings of its major metrics continue to rise to new highs. In the last five days, Shibarium has achieved several surprising records in terms of usefulness.

The Shibarium Layer 2 blockchain continues to expand in terms of utility as readings of its major metrics continue to rise to new highs. In the last five days, Shibarium has achieved several surprising records in terms of usefulness.

Meanwhile, SHIB price failed to overcome the $0.00001004 resistance and turned lower again, adding an additional zero.

Shibarium reaches epic milestones

According to the Shibariumscan Explorer, Shibarium has added a staggering amount of transactions in the last five days as it increased from 223,929,052 on Saturday, December 30 and reached 256,620,883 now. That represents an increase of 33 million transfers in less than a week. So far, a total of 254,704 million of these transactions have been verified, the rest are pending.

The second major Shibarium metric that demonstrated an increase is the total count of blockchain wallets connected to this network. It has reached 1,326,849, adding approximately 6,000 wallets and currently stands at 1,320,704.

The number of daily transfers on Shibarium has also increased compared to Wednesday, when it fell to 4.37 million, compared to 7.84 million at the end of December. At the time of writing, the total daily transaction count shows 6.19 million, the result of a two-day increase.

Related
SHIB Burns Soars 2,274% With Significant Burn Improvement in Horizon

SHIB fails to stay away from new zero

After the massive 14% price drop experienced by Shiba Inu on Wednesday, when it crashed following Bitcoin’s 7% drop, the second largest meme-inspired cryptocurrency, SHIB, has made some attempts to regain the $0 level, 00001 lost thanks to Bitcoin.

SHIB’s 9.94% rise was outpaced by a 3% drop, taking that opportunity away from SHIB. At the time of writing, the prominent meme coin is changing hands at $0.00000970.

The Bitcoin price collapse was caused by a predictive paper published by Matrixport, which states that it expects the SEC to reject all spot Bitcoin ETFs for now. This immediately resulted in a huge number of liquidations across the cryptocurrency market – $730 million worth of crypto positions were wiped out.

As Guru-Investingrecently reported, the founder of Shibarium-friendly PawZone Market declared who believes that following the approval of a Bitcoin ETF, the world could see SHIB or PAW spot ETFs in the future.

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