After more than 16 months since its launch, Shibarium has now gone live on Bitget Wallet amid a push for more functionalities
Shiba Inu’s Shibarium has recorded a significant development that excited community members. Bitget included Shibarium in its list of supported blockchains on its Web3 Wallet without any official announcement.
Shibarium in Bitget Wallet: A Gateway for Global Users
The development came from Shibarium Updates on X. According to the news, the protocol has only made its way into the Bitget Wallet. It stated it is yet to go live on the exchange. This means that users of Bitget’s Wallet services can now interact with Shibarium-based assets and applications via the platform.
As per the update, the functionality might include managing tokens such as BONE, SHIB, and others in the Shibarium ecosystem. This integration might likely enhance Shibarium’s accessibility and usability for more users. Notably, it unlocks access to the over 40 million users on the Bitget network.
According to information from Bitget Wallet, its over 40 million users are spread across 168 countries. This user base might prove beneficial and significantly impact Shibarium. Notably, these numerous users will now have access to swap, transfer, store, or stake assets within the Shiba Inu ecosystem.
The update has generated mixed reactions among some Shibarium users online. Many see it as a significant development in the ecosystem’s growth.
They believe that Shibarium could make a huge impact in the long term. However, a user, Milo (@GutiS07), pointed out a notable concern. Milo noted that Bitget “is no good in the U.S.”
Shibarium Metrics and SHIB’s Performance
Bitget’s unavailability in the U.S. relates to its failure to obtain regulatory approvals. Market observers believe that if Bitget complies with regulatory requirements and begins operations in the U.S., it could boost its user base.
Such a move will further expose Shibarium to a larger audience of potential users, which could improve the network’s daily transaction volume.
According to Shibariumscan, an account that monitors the network, the daily transaction volume stood at 4.66 million on Tuesday. The number of active wallets has also increased significantly to 2,006,850. Depending on community adoption, these activities might witness a spike in the coming days.
Meanwhile, SHIB has recorded a significant price increase to $0.00002925, representing 4.62%. However, SHIB’s market volume has dropped by 37.55% to $1.39 billion. Analysts believe that the SHIB ecosystem needs to sustain its current momentum for continued price growth.
As reported by BGECrypto, the SHIB ecosystem recently incinerated over 3 billion tokens to stabilize its price. The Shiba Inu ecosystem has consistently used its burn mechanism as a deflationary measure to prevent SHIB from plunging excessively low.
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