Shiba Inu’s Layer-2 blockchain, Shibarium, is experiencing a period of explosive growth. New user accounts skyrocketed by a staggering 450% in the last 24 hours, according to data from Shibariumscan. This surge indicates a renewed wave of interest in the Shiba Inu ecosystem.
Active Users Up, Transactions Rise
The influx of new users wasn’t the only positive sign for Shibarium. The total number of active accounts also witnessed a healthy increase of 23%, rising from 489 to 602. This suggests that the new users aren’t just signing up – they’re actively engaging with the platform.
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Furthermore, transaction activity mirrored the user growth. The daily transaction volume jumped 35.6%, reaching a total of 4,319 transactions. This uptick hints at a potential rise in network usage and adoption.
BONE Token Sees Increased Utility
Interestingly, the surge in user activity coincided with a rise in BONE token usage. BONE serves as the native gas fee for Shibarium transactions. The amount of BONE spent on fees went up significantly, from 19.31 BONE to 40.14 BONE.
This rise in BONE utilization is likely due to the increased number of transactions. It’s also worth noting that a portion of each BONE fee gets burned, effectively reducing the overall supply and potentially increasing its value over time.
What’s Driving the Shibarium Growth?
The reasons behind the sudden surge in interest for Shibarium are likely multifaceted. It could be partially attributed to the recent positive price action of Shiba Inu (SHIB) tokens. Additionally, with the growing popularity of Layer-2 solutions in the crypto space, Shibarium might be attracting users seeking faster and cheaper transactions.
Looking Ahead: The Future of Shiba Inu
The recent developments on Shibarium are a positive sign for the Shiba Inu ecosystem. The significant increase in users and transaction activity suggests a growing interest in the platform. Whether this surge is sustainable remains to be seen, but it certainly positions Shibarium for potential future growth.
