Shibarium Crosses Historic Block Milestone: Details

The Shiba Inu (SHIB) Layer-2 scaling solution Shibarium has sustained its positive sentiment with another milestone in the bag.

Shibarium Record 6M in Total Blocks 

Shibarium Scan data shows that the protocol has reached 6,018,526 in total blocks in about 1 year after it commenced operations. This new development is a sign of progressive growth for the SHIB ecosystem. Recording such high value means that there is an increasing demand for scalable and efficient solutions linked to Shibarium.

The L2 blockchain has now achieved the remarkable feat of confirming more than 6 million blocks at an impressive average block time of just 5 seconds. Additionally, other metrics have seen significant changes as well, further validating the smooth functioning of the Shibarium protocol. 

The total transactions on Shibarium came in at 417.9 million, while the number of wallet addresses grew to over 1.8 million.

It is worth acknowledging that Shibarium has seen several upside these past few months. About a month ago, the protocol saw a notable surge in network activity in addition to a transaction fee surge of 38.10%. The uptick highlighted the increasing interest in Shiba Inu and potential wider adoption. Precisely, it climbed from 16.22 BONE on June 17 to 78.18 BONE on June 23.

In the same period, the average block size on the Shibarium network jumped by 28.76% indicating that more transactions are being included in each block.

More Bullish Metrics To Show

At the beginning of June, the number of new accounts on Shibarium soared by an unprecedented 3,336%, moving from 30 to 1,031 within a 24-hour period. 

Also, the transaction count rose from 4,751 to 8,527 transactions, corresponding with an 80% increase in transaction activity during the same timeframe.

In the next few weeks, the L2 scaling solution may record more positive sentiment especially with the crypto industry gradually gliding to another bull season. For now, Shiba Inu, the network’s dominant token is up 1.79% in 24 hours to $0.00001717.

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