Shiba Inu Layer-2 Network Shibarium Surpasses 1M Wallet Mark As Data Shows 335% Surge In Large Transactions
Portfolio Pulse from Mehab Qureshi
Shibarium, the layer-2 blockchain network of Shiba Inu (CRYPTO: SHIB), has surpassed one million wallets two weeks after its launch. Despite a surge in network activity and user adoption, the total value locked on the Shibarium network is just $1.06 million. Blockchain data provider, IntoTheBlock, disclosed a 335% surge in large transactions valued at $100,000 or more, amounting to $29.24 million within the SHIB token ecosystem.
September 04, 2023 | 9:19 am
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Shibarium's growth and the surge in large transactions could increase interest in SHIB, but the low total value locked on the network may limit its upside potential.
The growth of Shibarium and the surge in large transactions indicate increased interest in the SHIB token. However, the relatively low total value locked on the network suggests that it may not yet be a major player in the crypto market, which could limit the potential for significant price increases in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100