Shibarium, the layer-2 blockchain of Shiba Inu, has garnered significant attention in recent days, indicating a renewed interest in the project. New data from Shibariumscan, a platform dedicated to tracking Shibarium’s progress, reveals a remarkable 254% surge in new accounts between February 1st and February 3rd.
The surge in new accounts, from 24 to 61, highlights a substantial increase in network activity. This spike often suggests potential price volatility, with a positive trajectory anticipated. Unlike traditional blockchains, Shibarium operates with its own token, BONE, which takes center stage within the network.
In addition to the surge in new accounts, Shibarium has achieved several other significant milestones. The total number of addresses on the network has surpassed 1.35 million, with 1.437 million BONE transfers, 3.012 million total blocks, and 333.481 million total transactions. These achievements are particularly noteworthy, considering the bearish market conditions and the project’s intense launch in the previous year.
Shibarium’s establishment aligns with Shiba Inu’s broader objective of moving beyond its memecoin status. By introducing a Layer-2 blockchain, the network gains the capability to deploy contracts and launch various blockchain-related products and applications. This strategic move positions Shibarium to compete with established networks such as Cardano, Ethereum, Solana, and Polygon.
As user engagement on Shibarium continues to grow, the demand for BONE, the gas token and validator stake, is expected to rise. This increased interest and activity are also likely to provide positive momentum for Shiba Inu’s native token, SHIB.
Currently, SHIB is trading at $0.00000901, experiencing a slight decrease in the last 24 hours. It has encountered a minor 1% downturn on the weekly chart, reflecting the broader bearish trend in the cryptocurrency market. Despite this, SHIB holds the 19th position in terms of market cap, surpassing Litecoin, which launched almost a decade earlier.
BONE, valued at $0.5465, has seen a marginal drop of less than 1% but has experienced a nearly 3% increase in trading volume over the last 24 hours. This heightened volume indicates a potential imminent price change, suggesting a period of turbulent price movement may be on the horizon.
Furthermore, Shibarium has garnered support from major cryptocurrency exchanges in recent weeks, with the most recent integration being with the 11th-ranked exchange, Gate.io. This partnership in spot trading further boosts Shibarium’s prominence within the crypto ecosystem.
In conclusion, Shibarium’s surge in popularity, achievement of key milestones, and increasing integration with reputable exchanges demonstrate its growing significance in the blockchain space. As the project continues to attract new users and establish itself as a competitive network, the future looks promising for Shibarium and its associated tokens, BONE and SHIB.
Frequently Asked Questions (FAQ) about Shibarium:
1. What is Shibarium?
Shibarium is a layer-2 blockchain associated with Shiba Inu, a popular cryptocurrency project.
2. What is the recent development in Shibarium?
New data from Shibariumscan reveals a significant surge in new accounts, with a 254% increase between February 1st and February 3rd.
3. How does Shibarium differ from traditional blockchains?
Shibarium operates with its own token called BONE, which plays a central role within the network.
4. What milestones has Shibarium achieved?
Shibarium has surpassed 1.35 million addresses on its network. It has also recorded 1.437 million BONE transfers, 3.012 million total blocks, and 333.481 million total transactions.
5. What is the objective of Shibarium?
Shibarium aims to move beyond its memecoin status by introducing a layer-2 blockchain, which enables the deployment of contracts and the launch of various blockchain-related products and applications.
6. Which established networks does Shibarium aim to compete with?
Shibarium positions itself to compete with networks such as Cardano, Ethereum, Solana, and Polygon.
7. How does the increased user engagement affect Shibarium’s tokens?
As user engagement on Shibarium grows, the demand for BONE (the gas token and validator stake) is expected to rise. This increased interest and activity may also provide positive momentum for Shiba Inu’s native token, SHIB.
8. What is the current trading price of SHIB and BONE?
SHIB is trading at $0.00000901, while BONE is valued at $0.5465.
9. What exchanges have recently integrated Shibarium?
Shibarium has gained support from major cryptocurrency exchanges, with the recent integration being with the 11th-ranked exchange, Gate.io.
Key Terms and Jargon:
– Shibarium: The layer-2 blockchain associated with Shiba Inu.
– BONE: The token that operates within the Shibarium network.
– Memecoin: A cryptocurrency that originated from a meme, often known for its community-driven nature and popularity.
– Gas Token: A token used to pay for transaction fees on a blockchain network.
– Validator Stake: The amount of cryptocurrency locked up by a user to contribute to the consensus and security of a blockchain network.
Links:
– Main Domain: Shiba Inu Token
– Related Link: Gate.io
The source of the article is from the blog tvbzorg.com