Data from shibariumscan.io shows that Shiba Inu’s layer two (L2) scaling project, Shibarium, has successfully passed the 1 million wallet mark since its creation. SHIB, the project’s native token, has nevertheless dropped significantly over the past week—almost 4%—and over the previous month—more than 18%.
The Shibarium didn’t get off to a flying start following its launch on August 16. However, the network aims to move past these incidents as block production resumes. Developers Restarts Network Data from https://t.co/EvloPq9na7 shows that the layer-2 network is up and… #ShibaInu pic.twitter.com/fM09221C5h
— Juan Manuel Chávez ₿ Ξ #Bitcoin 🇲🇽 (@JuanChavMaci) August 18, 2023
Shiba Inu’s Shibarium Booms With Wallets, But Tokens Navigate Choppy Waters
Shibarium, the L2 scaling solution developed by Shiba Inu, was working without any issues as of August 30, 2023, according to Bitcoin.com News. At that time, there were about 157,685 wallets in total. Today, that figure has risen to over 1.1 million, representing an increase of 598% in just under a week.
— CoinMarketCap (@CoinMarketCap) September 5, 2023
Shibarium’s transaction volume peaked at 132,000 transfers on August 24, 2023. The daily transaction volume has varied between 40,000 and 99,000 transfers since that high point. 986,716 transactions have been logged overall. Currently, approximately 455,000 Shibarium blocks have been authenticated, with blocks being checked every 5 seconds. As of September 4, 2023, Shibarium L2 has a total value locked (TVL) of $1.05 million, according to data from defillama.com.
It is important to note that Shibarium’s TVL, which was $1.46 million on August 29, has decreased. Two decentralized exchange (dex) sites with a Shibarium focus, Dogswap and Marswap, account for the majority of this value. Dogswap takes home $620,362 of the total, while Marswap is believed to be worth $271,547. Woofswap, who is third in line, has a reserve of about $73,102. According to statistics, each of the nine platforms focused on Shibarium had a decrease in TVL over the previous day.
🇬🇧 The first shots of the destroyed British tank Challenger 2. TG channels write that the video was shot near Rabotin in Zaporizhia. ❗️ It is important to note that this may not only be the first shots, but also the first case of the destruction of a Challenger tank in the world.… pic.twitter.com/nwD45PT9TV
— Peacemaker (@peacemaket71) September 5, 2023
Focusing in on the tokens, SHIB has lost 4% of its value this week and now trades at an 18% discount to the US dollar. Bone has also suffered, falling more than 16% this week and 39% over the previous month.