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#ContentStar#Shiba Inu (SHIB) Blasts Through Another Major Milestone
Shiba Inu’s layer-2 blockchain solution Shibarium has achieved notable milestones, exceeding 1.5 million total blocks, nearing 4 million transactions, and over 1.2 million wallet addresses.
Shibarium’s launch aims to outpace other memecoins by enhancing transaction speeds and reducing costs, with recent data showing SHIB’s price increased by 2% over the past week and 12% in the past 14 days.
Shiba Inu’s aggressive token burning strategy has removed nearly 1.5 billion SHIB from circulation, potentially influencing a price rally, highlighted by a record burn of over 250 million tokens on a single day in October.Shiba Inu’s Latest Achievement
The popular memecoin – Shiba Inu – remains a trendy topic for numerous cryptocurrency participants, while news surrounding the token keep making the headlines. One feature that captures much of the attention is the layer-2 blockchain solution – Shibarium – which went live in August and managed to reach several milestones in the following months.
According to Shibariumscan, the network’s total blocks recently surpassed the 1.5 million mark. In addition, the number of overall transactions is inching towards the coveted level of 4 million, currently standing at over 3.8 million. Wallet addresses have surpassed 1.2 million.
Shibarium aims to elevate Shiba Inu above its rivals in the memecoin realm by improving speed and lowering transaction costs. Its further advancement is touted as a bullish factor that could propel a price increase for SHIB. The asset has spiked a mere 2% for the past seven days and more than 12% on a two-week basis (per CoinGecko). USDT Supply Reaches New All-time High
USDT supply hit and surpassed the 84 billion threshold on October 22. This came two months after the leading stablecoin tapped the 83.76 billion mark. Tether’s CEO Paolo Ardoino took the X to celebrate the milestone with a tweet stating, “84B USDT.”Two weeks later, USDT supply has soared beyond the 85 billion mark. The supply growth has also affected the stablecoin’s market capitalization, bringing it to $85.45 billion at the time of writing, according to data from CoinMarketCap. The second-largest stablecoin, Circle USD (USDC), follows with a distant market cap of $23.98 billion.As USDT’s market capitalization and supply increase, the asset has maintained its dominance in the stablecoin space. Between Q1 and Q3 2023, stablecoins’ active addresses and transactions grew by 45% and 41%, with USDT leading the pack with an average of 337,000 daily active addresses and 680,000 daily transactions.
#ContentStar##HotTopicDiscussion# So far, the bankrupt crypto exchange's estate has moved $102 million in SOL to exchanges in a series of transactions that may exert selling pressure on the token.
1/ In the past 24 hours, #FTX transferred a total of 1.1M $SOL ($42.35M) and 7,183 $ETH ($12.9M) to sell.As of Nov 3, #FTX had transferred ~$221.7M in crypto assets.How many assets does #FTX have left?👇 pic.twitter.com/piQY8ATW9X
— Lookonchain (@lookonchain) November 3, 2023
SOL is the largest asset on the FTX estate balance sheet, coming in at just over $1.16 billion, CoinDesk previously reported.
While the token has risen nearly 70% during the last month and is up 10% year-on-year, with the anniversary of the FTX collapse approaching, the price has dropped by 15% from a 14-month high on signs a recent rally may be losing momentum on looming sell pressure. Unstaking and moving tokens to exchanges is the first step in liquidating assets, but the estate hasn't yet sold any.
Earlier this year, the Securities and Exchange Commission (SEC) alleged in a suit that Solana constituted a security, though market volatility eased after the Solana Foundation publicly disputed the SEC's allegation and Ripple scored a partial victory that legal experts said was a setback in the commission's war on crypto. 
