Shibarium Hits New Milestone, Daily Transactions Spike 582% to ATH of 5M+

Shibarium, the Shiba Inu ecosystem layer-2 blockchain has picked up pace, recently witnessing a massive 582% jump in daily transactions to over 5 million.

The Shibarium development team, led by lead developer Shytoshi Kusama, launched Shibarium on the mainnet in August. Despite an initial hiccup and sustained FUD, the protocol scaled through. However, adoption had remained underwhelming until recently.

Daily Transactions Surge to 5M+

Shibarium had averaged 13,000 daily transactions since its launch, with occasional drops and surges in this metric. Nonetheless, the recent bullish phase came up two days ago. Interestingly, Shibarium’s daily transactions spiked from 16.63K on Nov. 29 to 748.23K on Nov. 30.

This spike represented an explosive 4,399% surge in daily transaction volume, and marked a new all-time high. While the Shiba Inu community celebrated this milestone going into the new month, the network had more substantial plans in store.

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Shibarium’s daily transactions witnessed another spike from Nov. 30 to Dec. 1. The layer-2 protocol recorded an additional 582% increase in transactions from 748.23K to 5.11 million on Dec. 1. Again, this current value represents a new all-time high in daily Shibarium transactions.

Lucie, a Shiba Inu marketing specialist, first called attention to this new milestone in a post this morning. She noted that the network was now witnessing an increase in traffic, a surge in gas prices which is now expediting the amount of SHIB set to be burned.

At the time of Lucie’s disclosure (00:14 UTC), Shibarium had total transactions amounting to 10,169,400 (10.169 million). Interestingly, this metric has surged to 12,731,763 (12.731 million) total transactions as of press time. 

The change indicates that Shibarium saw 2,562,336 (2.562 million) transactions in 12 hours. This is 19,610% larger than the daily average of 13K, and 242% more than the 748.23K transactions it recorded throughout Nov. 23. This shows that Shibarium is still on track to maintain a 5 million daily transaction count.

Other Shibarium Metrics

The growing transaction count is pivotal, as it demonstrates growing interest and demand in the network. Besides the transaction count, Shibarium has recorded other impressive metrics that further indicate rising adoption.

In a previous report, The Crypto Basic confirmed that the network recently witnessed a massive transaction count of 952 in a single 5-second block, surpassing the everyday average. 

In addition, the protocol has welcomed 1,277,505 wallet addresses since launch, with 1,902,645 total blocks. Amid the growing demand, block time remains steady at 5 as seconds. The Crypto Basic also reported last month that Shibarium recently broke into the top 5 active blockchains on NOWNodes.