Shiba

Major

Block

Impact

Shiba Inu

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<p dir="ltr">The Shiba Inu (SHIB) ecosystem has continued to push Shibarium, its Ethereum-based layer-2 scaling solution, to a new height.<a href="https://www.shibariumscan.io/" rel="noopener noreferrer nofollow">According</a> to on-chain analytics tracker Shibarium Scan, the protocol is on track to hit the eight million total block milestone.</p>
<h2 id="state-of-shibarium-in-figures">State of Shibarium in figures</h2>
<p dir="ltr">Currently, the protocol boasts a total block of 7,961,993, buoyed partly by the massive boost in total transactions registered on the network. Shibarium block transactions have seen linear growth over the past year.</p>
<p dir="ltr">As U.Today<a href="https://u.today/shiba-inus-l2-shibarium-breaks-crucial-milestone" rel="noopener noreferrer nofollow">reported</a> earlier, the protocol breached the seven-million-block milestone in late September, setting a rare pace for future growth. Beyond block count, Shibarium has also seen impressive milestones regarding transaction count. For over a month now, daily transactions on the protocol have run in the millions, underscoring the massive adoption fueled by the ongoing bull run.</p>
<p dir="ltr">Shibarium’s total<a href="https://u.today/shibarium-to-hit-fresh-transaction-milestone-in-hours" rel="noopener noreferrer nofollow">transaction count</a> has topped 531 million as of this writing. In addition, the number of wallets registered on the protocol has jumped to 1,892,071, epic proof of sustained growth.</p>
<p dir="ltr">Other metrics, like average block time, remain pegged at five seconds, placing Shibarium as one of the fastest L2s in the broader Ethereum ecosystem.</p>
<h2 id="impact-on-shiba-inu-price">Impact on Shiba Inu price</h2>
<p dir="ltr">Shibarium's growth and key milestones sometimes correlate with Shiba Inu's price. While this is mostly true, there are usually some exceptions. Shiba Inu's price is down by 2.37% in 24 hours to $0.00002513 at the time of writing.</p>
<p dir="ltr">The general trend on the crypto market shows caution, as most digital currencies are overbought after<a href="https://u.today/shiba-inu-shib-finally-breaks-out-from-downtrend" rel="noopener noreferrer nofollow">breaking out</a> from a recent downtrend. Despite this short-term slump, Shiba Inu expanded its price growth over the past month, retaining a 34.32% surge.</p>
<p dir="ltr">While the combined market trend might determine how high or low SHIB will grow this bull cycle, Shibarium might help reverse its deepening sell-offs.</p> <a href="https://u.today/shibarium-close-to-major-block-milestone" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Shibarium Close to Major Block Milestone

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