Over 1,200,000,000 Transactions Now Registered on Shibarium

Shiba Inu’s (SHIB) layer-2 blockchain, Shibarium, has now surpassed 1.2 billion transactions on the ecosystem. According to Shibariumscan data, the total number of transactions logged on the layer-2 blockchain is 1,200,232,125.

Shibarium achieves major milestone in growth metrics

The more than 1.2 billion transactions came from at least 261,578,109 addresses on the Shibarium platform. This indicates steady growth since the ecosystem's inception, and it signals progress.

Other significant data worth noting is that Shibarium now has 11,334,243 blocks, with an average block time of 5.0 seconds. Exactly two months ago, after it had reached the 10 million block milestone, Shibarium was aiming for 10.5 million blocks.

The milestone in transaction volume reflects user engagement and trust in the platform. This increased engagement has the potential to positively impact the values of ecosystem tokens like SHIB and BONE.

However, as of press time, Shiba Inu was trading at $0.00001310, representing a 0.48% decline in the last 24 hours. SHIB has experienced high volatility since it slipped below $0.00001317

Meanwhile, despite the soaring transaction volume on Shibarium, the daily transaction volume has dipped recently. It left the million range on May 21 when it logged 1.51 million transactions. Since then, the daily transaction volume has plummeted.

As of June 2, the total number of transactions logged on Shibarium was 64,390. This extends it below 100,000 transactions to 10 consecutive days.

Community eyes recovery as developers combat bad actors

Shibarium experienced the same pattern at the start of May and recorded low daily transactions before staging a comeback to 4.3 million. If the ecosystem mirrors May’s performance, a surge in transaction volume may just be looming. This could further push Shibarium to new levels.

Meanwhile, DavinciShib, a Shiba Inu team member, has assured the community of efforts to crack down on rug pull perpetrators. This addresses concerns fake tokens and hype by bad actors looking to exploit Shibarium for quick gains.