Following Bitcoin’s recent double-digit surge, altcoins are seeing an increase in transactions and values. Shibarium, the layer-2 scaling solution for the popular meme token Shiba Inu, has grown dramatically, particularly in terms of daily transaction volume.
According to Shibarium Scan, a monitoring resource, the protocol processed an unprecedented 7.84 million transactions on Tuesday.
This is Shibarium’s highest daily transaction volume ever recorded, bringing the total number of transactions since its official launch in April to more than 29.6 million.
Shibarium, which was created to alleviate congestion on the Ethereum network, has successfully demonstrated its utility and stability at scale.
Shiba Inu’s growing adoption and functionality contribute to its overall value as investors recognize and reward real-world usage.
As a result of this surge in utility, the SHIB token experienced a 10% single-day price increase, as well as a significant increase in trading volume exceeding $526 million. Similarly, Shibarium’s native governance token, BONE, increased by 10%.
These encouraging developments are directly related to Shibarium’s ability to handle millions of transactions per day, a fourfold increase over November levels. The organic growth in user adoption indicates a promising path for the viability of crypto blockchains.
The continuous and exponential growth in daily transactions, with no interruptions or shutdowns, demonstrates the extensive testing and preparations carried out by lead developer Shytoshi Kusama and the development team.
Shibarium’s production-grade infrastructure has demonstrated its ability to handle more traffic than it did at launch, ensuring a smooth experience with no bottlenecks.
This operational success marks an important step in Shibarium’s journey beyond speculative hype cycles, highlighting the platform’s maturation.
Developers are actively promoting the use of decentralized applications and investigating ways for SHIB holders to productively leverage their tokens.
James Wilson is a crypto writer and researcher with over 5 years of experience in the industry. He is a graduate of the University of California, Berkeley, where he studied computer science and economics. After graduating, he worked as a software engineer at a major tech company before transitioning to a career in crypto.
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