• The number of addresses on the Shibarium network closed in on 500,000.
• A high number of SHIB circulated but most went into exchanges.

Since Shiba Inu [SHIB] introduced its Layer two (L2) ecosystem Shibarium, it has hit milestones upon milestones. According to the Shibarium explorer, the number of addresses using the L2 was now 447,076.

How much are 1,10,100 SHIBs worth today?

As of 23 August, very few transactions were made on Shibarium. Fast forward to 30 August, daily transactions rose to 68,402. This brought the total transactions on the Shibarium network to 617,492.

Wallets increase, TVL undecided

The growth in wallets implies how adoption has been impressive with the Shiba Inu ecosystem. When the Shiba Inu team ideated Shibarium, it aimed to create an L2 backed by SHIB tokens, and built on the Ethereum [ETH] blockchain.

While it has been put the project for public use, there was a quiet period where the SHIB community did not experience traction despite the hype around it. Interestingly, the hike in addresses and transactions has also spread to the Shibarium Total Value Locked (TVL).

With the help of protocols like DogSwap, Shibarium’s TVL reached $1.42 million. The TVL shows the level of unique deposits into a protocol. An increase suggests high liquid input while a decrease in the metric implies a dearth of activity on the network.

Go to Source to See Full Article
Author: Victor Olanrewaju

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details