Shiba Inu’s layer-2 scaling solution, Shibarium, has achieved a significant milestone by processing over 300 million transactions since its launch. The network experienced a surge in daily transactions, peaking at around 8 million earlier this month. However, daily transactions have since fallen to approximately 2.7 million. Shibarium currently has 1.34 million wallet addresses and has processed over 2.78 million blocks. This growth coincided with Gate.io allowing users to purchase and transfer BONE tokens directly to Shibarium, and Australian company GroveX integrating with the network, enhancing its credibility.
Despite Shibarium’s success, the native token of Shiba Inu, SHIB, has experienced a slight decline. Over the past 24 hours, SHIB has dropped by 4%, and over the past week, it has fallen by 10%. In the last 30 days, SHIB has decreased by more than 22%, aligning with the broader correction in the cryptocurrency market.
However, investors continue to show interest in SHIB. Data from Arkham Intelligence reveals that commission-free trading platform Robinhood holds 36.684 trillion SHIB tokens in its wallet, with an additional 231 billion tokens added in a single day. It’s important to note that these exchange wallets represent the holdings of the platform’s users, not the platform itself.
Cryptocurrency whales have also been accumulating SHIB, with one whale transferring 136.8 billion tokens to a new wallet. Additionally, four whales have accumulated a total of 2.39 trillion tokens from cryptocurrency exchanges in the past month. Notable figures, including TRON founder Justin Sun, have been accumulating SHIB, with Sun adding 577 billion tokens to his wallet.
Source: CRYPTOGLOBE
