Shibarium Shatters Records: 2 Million Transactions In A Day – Details

Christian Encila

1 year ago

3 mins read

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After a month of quiet paws, Shibarium, the Layer-2 solution for the popular meme coin Shiba Inu, has roared back to life with a staggering 200% increase in daily transactions over the past two days.

This surge marks a dramatic turnaround from its recent lull, reigniting optimism among the SHIB army and sending the platform’s gas token, BONE, leaping 6%.

Strong Showing: Shibarium Soars

Data from Shibariumscan reveals a notable ascent: On Saturday, transactions had slumped to a dismal 1.16 million, the lowest point in recent memory.

Awakened by increased activity, today recorded a remarkable 2 million transactions, surpassing the platform’s previous peak of 7.84 million in November.

Source: Shibariumscan

So, what unleashed this furry fury? Gate.io, a major cryptocurrency exchange, appears to be the culprit in all the best ways.

Their recent integration of Shibarium allows users to finally break free from the shackles of centralized exchanges and withdraw BONE tokens directly onto the Shibarium network.

This marks a monumental milestone, signifying the first major partnership between Shiba Inu’s Layer-2 solution and a traditional exchange.

Huge shoutout to @gate_io for introducing #Shibarium support! 🚀

Now, easily purchase and send Bone to #Shibarium through Gateio. Appreciate this 👏

Thank you pic.twitter.com/TOjYOXe42k

— 𝐋𝐔𝐂𝐈𝐄 | Shibarium ⛓️ (@LucieSHIB) January 15, 2024

Gate.io’s decision is a significant step forward for Shibarium’s accessibility and opens up exciting possibilities for the platform, according to some analysts.

With over 285 million transactions under its belt, 1.3 million active wallets, and 2.6 million blocks stacked high, Shibarium’s network metrics tell a story of continuous growth.

SHIB market cap currently at $5.616 billion. Chart: TradingView.com

BONE Surge Fuels Shibarium’s Promising Future

And while the price of SHIB itself experienced a slight dip today, BONE, the fuel that powers Shibarium, surged an impressive 7%, suggesting investors are placing their bets on the Layer-2 solution’s future.

The question now: Is this just a fleeting blip on the radar, or the dawn of a new era for Shibarium? The SHIB community, ever hopeful, chooses to see it as the latter.

Some analysts say this could be a turning point for Shibarium. With more integrations and partnerships on the horizon, the platform has the potential to revolutionize how users interact with the Shiba Inu ecosystem.

Only time will tell if Shibarium can sustain this momentum. But for now, the Shiba Inu’s Layer-2 solution is back in the spotlight, its paws firmly planted on the gas pedal, and its sights set on a decentralized future for the meme coin revolution.

Featured image from Shutterstock

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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