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Shiba Inu's Shibarium unleashes growth wave with 450% new user surge

2024/07/16 20:06

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Shibarium, the layer-2 blockchain of Shiba Inu (SHIB), has reported a remarkable 450% increase in new accounts over the past 24 hours, according to Shibariumscan data.

The number of new accounts surged from 6 to 27 within the reviewed period, indicating growing interest in the network. Concurrently, active accounts rose by 23% from 489 to 602.

Simultaneously, transaction fees paid in BONE, Shiba Inu's native token used for gas fees, saw an uptick from 19.31 BONE to 40.14 BONE. A portion of these fees is converted to SHIB and burned, reducing its supply and establishing deflationary pressures.

Source: Shibariumscan

The heightened user influx and increased transaction volumes have boosted daily transactions to 4,319, marking a 35.6% rise from the previous day. This surge in activity suggests that new users may be joining to engage with the platform or to hold BONE and SHIB tokens amid recent market developments.

The renewed interest in Shibarium aligns with recent price movements in Shiba Inu tokens, potentially driving broader engagement with the network.

SHIB

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