Shibarium, the advanced layer 2 scaling solution for the Shiba Inu cryptocurrency ecosystem, has reached a major milestone: it has now surpassed three million blocks.
The platform, aimed at making transactions faster and easier in the Shiba Inu ecosystem, has now processed more than 334 million transactions and gained 1.35 million wallet addresses.
Shibarium: Performance and Growth Metrics
Shibarium, with its average block time of just 5 seconds and negligible gas fees, has demonstrated remarkable performance in both throughput and cost-effectiveness. The platform boasts a daily transaction volume of 2.46 million, facilitating efficient and affordable transactions within the Shiba Inu ecosystem.
With approximately 332.613 million transactions processed to date, Shibarium showcases a robust development landscape. Although the average block time slightly increases to 49.581 seconds, the platform has managed to support a total of 15,004 contracts, indicating vibrant development activity on Shibarium.
Shibarium currently hosts 63,225 accounts and supports a diverse array of tokens, totaling 8,979. These figures highlight the platform’s capacity to accommodate various applications and tokens, contributing to its growing ecosystem and versatility.
Shiba Inu (SHIB): Resilience and Market Position
The price of Shiba Inu (SHIB) has displayed resilience and growth, currently standing at $0.000008903, marking a 1.77% increase over the past day, as per CoinGecko data. This performance has contributed to maintaining its market capitalization at $5.25 billion, securing its position as the 18th largest cryptocurrency.
In comparison to other meme coins, Shiba Inu demonstrates significant market presence. While its closest competitor, Dogecoin (DOGE), boasts a market cap of over $11 billion, Shiba Inu surpasses newer entrants like Bonk (BONK) and Pepe (PEPE), which have market caps of $634 million and $381 million, respectively.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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