Shibarium, the layer-2 blockchain of Shiba Inu, has experienced an astonishing surge of 254% in new accounts within just three days, attracting the attention of investors and developers. The total number of accounts has now reached an impressive 63,225, with the total number of addresses surpassing 1.35 million. This milestone for Shibarium highlights its potential and indicates a renewed interest in the project. Data from Shibariumscan, a platform dedicated to tracking and documenting Shibarium’s accomplishments, reveals the significant increase in new accounts between February 1st and February 3rd.
On February 1st, the number of new accounts per day was 24, but by February 3rd, it had skyrocketed to an impressive 61. A surge in network activity often indicates price volatility, typically in a positive direction. However, it is important to note that unlike most blockchains, where the native token takes the spotlight, Shibarium has its own token called BONE.
In addition to the surge in new accounts, other notable achievements include the total number of addresses on the network surpassing 1.35 million, a total of 1.437 million BONE transfers, 3.012 million total blocks, and 333.481 million total transactions. These accomplishments are particularly remarkable considering the bearish market conditions and the challenging launch of the project in the middle of last year.
The establishment of Shibarium aligns with Shiba Inu’s vision to be more than just a memecoin. By launching a layer-2 blockchain, the network can deploy contracts and introduce blockchain-related products and applications, thereby increasing its utility and competing with top networks such as Cardano, Ethereum, Solana, and Polygon.
The increased interest and activity in the Shibarium network will primarily benefit BONE. BONE serves as the gas token and validator stake, and the network’s activity is expected to drive demand for the token among users. Similarly, Shiba Inu’s native token, SHIB, will also benefit from the positive momentum.
Currently, SHIB is trading at $0.00000901 after a slight decrease in the past 24 hours. On the weekly chart, the memecoin has experienced a decline of nearly 1%, mirroring the bearish trend seen in other cryptocurrencies. With a market cap of $5.3 billion, SHIB holds the 19th position in terms of market cap, surpassing Litecoin, which was launched almost a decade before Shiba Inu.
On the other hand, BONE is being traded at $0.5465, experiencing a minor drop of less than 1%. The token holds the 300th position in terms of market cap, with a value of $125,557,180. Interestingly, the trading volume has increased by almost 3% in the past 24 hours, reaching $4,589,316. This increase in trading volume suggests an imminent price change, possibly a turbulent movement.
As previously reported by CNF, Shibarium has recently gained support from major cryptocurrency exchanges, attracting further interest in the project. The most recent integration is with Gate.io, the 11th-ranked spot trading crypto exchange.