Shibarium is in blowout mode as the transaction count tops 4.75 million in a clear case of massive adoption in the SHIB ecosystem
Shibarium, the Layer-2 blockchain solution for the Shiba Inu ecosystem, has stunned everyone with its transaction count. Since its launch in August 2023, Shibarium has followed a different growth path. Recent figures show a spike in the protocol’s daily transaction count.
Shibarium, Competing with Ethereum’s Layer-2 Giants
Shibarium scan data reveals that the protocol registered 4.75 million daily transactions, highlighting its growing adoption. Experts have described this surge in daily transactions as a major blowout. Despite being unable to account for the reasons behind the soaring daily transactions, they acknowledge it signifies a milestone for the L2 solution.
The protocol’s daily transactions is known to fluctuate unpredictably. Earlier this month, it recorded a low of 3,000 transactions. However, this jumped to around 300,000 daily transactions earlier this week.
This fluctuation in daily transaction figures has characterized the protocol for some time. For instance, on October 19, Shibarium’s daily transactions stood at 324,590. However, 48 hours later, it slipped sharply to 128,050.
Surprisingly, the next day, October 22, it jumped to 1.77 million daily transactions. That marked a milestone record for Shibarium in about 365 days. This latest spike to 4.75 million sets Shibarium on a competitive pathway with other Layer-2 solutions.
Future Prospects for The SHIB L2
Shibarium’s daily transaction count has placed it as one of the most used layer-2 networks in the Ethereum ecosystem. It recently registered a 1,733% increase in accounts generated for Shiba Inu. Although it remains far behind Base, which currently holds the title of “best-performing L2 per 30-day transaction,” experts see potential in Shibarium.
According to them, if Shibarium can maintain the high daily transaction count in the millions and not return to the thousands, it stands a chance against Base. How soon it will flip Base remains subject to its consistency.
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