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Shiba Inu Blockchain Success: Shibarium Transactions Near 3.3M, Staked BONE Surpasses 27M

source-logo  thecryptobasic.com 02 October 2023 10:41, UTC

Shibarium’s activity continues to surge as the number of transactions and BONE staked on the network record slight growth.

Shibarium, Shiba Inu’s layer-2 blockchain, has continued to record upticks in different aspects, such as total transactions, wallets, and staking.

Transaction Approaches 3.3 Million

At press time, Shibarium is close to hitting 3.3 million transactions. According to data from Shibariumscan, the network’s total transaction count stands at 3,283,364 (3.28 million).

It can be recalled that Shibarium hit 3M transactions on September 22. Thus, it suggests that Shibarium has processed only 283,364 transactions in nine days.

The figure is lower compared to the feats achieved in mid-September, where over 560K transactions were processed in 72 hours.

Furthermore, Shibarium’s daily transaction count has also slumped heavily. As reported on September 14, Shibarium’s daily transaction hovered around 200K for over three days.

However, the network currently boasts 17.09K daily transactions. Since September 16, Shibarium’s highest daily transaction count has been around 45.27K.

This can be attributed to the overall sentiment in the market as the bear cycle continues to wreak havoc on crypto-related activities.

Over 5K New Addresses Interact With Shibarium in 17 Days

Meanwhile, Shibarium boasts over 1.25 million wallet addresses. A total of 1,251,720 (1.25M) addresses have interacted with the network since its mainnet launch.

As of September 14, Shibariumscan data shows that 1,245,826 (1.24 million) addresses have interacted with the network. Only 5,894 new addresses have interacted with the network in 17 days.

The L2 network has also processed 928,862 blocks so far, with an average block time of 5.0 seconds.

Over 27.2M BONE Staked

In the meantime, staking activities have also skyrocketed since Shibarium’s relaunch on August 28. Shiba Inu community members have staked a total of 27,257,284.1165 (27.25 million) Bone ShibaSwap (BONE).

The tokens are delegated across 12 validators, which are responsible for securing and verifying transactions on the network.

According to data on the staking platform, Unification is the top Shibarium validator with the highest BONE holding. The community has delegated 5,597,640.4748 (5.59M) BONE tokens to the Unification pool.

ShibArmy America ranks as the second-highest validator on the list, with a holding of 3,985,544 (3.98 million) BONE tokens. The third biggest validator on Shibarium is ShibArmy Europe, which currently holds 3,075,520.1803 (3.07 million).

For context, Shibarium’s mainnet launch occurred on August 16. However, the L2 network encountered technical hiccups that put it into a fail-safe mode for nearly two weeks.

After successful scaling efforts, the project relaunched on August 28 and has been functioning ever since.