Shiba Inu Shibarium Hits Major Milestone As Transaction Count Surpasses 4M

Shiba Inu L2 blockchain Shibarium continues to record massive growth in various aspects as the total transaction count surpasses the 4M milestone. 

In just three months after its launch, the total transaction count on the Shiba Inu Layer-2 (L2) blockchain Shibarium has surpassed the 4 million milestone. According to data from Shibariumscan, the network’s total transaction count currently stands at 4,126,333 (4.12 million). 

Shibarium achieved the jaw-dropping feat in just three months after its launch. Recall that the L2 blockchain launched on the mainnet on August 16. However, it went into a fail-safe mode after encountering a technical glitch that lasted over two weeks. 

Following its mainnet relaunch in late August, Shibarium has continued to record a massive surge in activity, as reflected in its total transaction count. 

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Other Shibarium Areas See Growth 

Aside from the surge in total transactions, the network also saw growth in various aspects, including the number of wallets and blocks produced. 

The number of wallets that have interacted with the network is approaching 1.3M. At the time of writing this line, the figure stood at 1,270,878 (1.27 million). 

In addition, the network has also produced a total block of 1,787,717 (1.78 million) since its inception. Shibarium is among the most scalable L2 solutions on Ethereum, with an average block time of 5.0 seconds. 

Furthermore, the network’s daily transaction has spiked from a mere 8,930 recorded on November 19 to 43,690 at press time. 

Shibarium TVL Surges to $670K 

Meanwhile, the Shiba Inu decentralized finance (DeFi) ecosystem has maintained impressive growth. 

According to data from DeFiLlama, the Shibarium network now has a total value locked (TVL) of $670,511. Notably, Marswap ranks as the top DeFi projecting on Shibarium, boasting a massive 51.05% of the network’s TVL. 

The development comes a week after Shibarium achieved a huge feat, ranking among the top five most active networks on NOWNodes. 

There is a tendency for Shibarium activities to spike tremendously in the coming months as lead developer Shytoshi Kusama makes significant moves to have the network integrated into crypto exchanges.