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Sujit Kumar
Dec 5, 2024
by Sujit Kumar

Shiba Inu's Shibarium Hits All-Time High in Total Locked Value

Shibarium Hits ATH

Table of contents

  1. On-Chain Activity Shows Strength
  2. ShibaSwap Leads the Charge
  3. A Promising Future for Shiba Inu
The Shiba Inu (SHIB) ecosystem continues to thrive, fueled by the ongoing bull market. In just five days of December, SHIB has surged 17%, while Shibarium, its layer-2 blockchain, achieved a remarkable milestone of $10.47 million in total locked value (TVL). Developed by an independent team, Shibarium has shown exponential growth, with its TVL soaring 80.8% in November and an astounding 851% since the end of September, when it stood at just $1.23 million.

On-Chain Activity Shows Strength

Shibarium’s robust performance is mirrored in its on-chain metrics. Over the past month, the number of accounts on the blockchain grew by 13.27% to 208,530, while transactions surged by 29.79%, reaching a staggering 603.74 million. These figures highlight the expanding adoption and utility of the Shiba Inu ecosystem.

ShibaSwap Leads the Charge

ShibaSwap, a decentralized application on Shibarium, plays a pivotal role in this growth. According to DefiLlama, ShibaSwap commands $4.02 million of the TVL, experiencing a 94.1% increase over the last month. This makes it not only the most dominant app on Shibarium but also one of its fastest-growing components.

A Promising Future for Shiba Inu

Currently ranked as the 105th largest blockchain and backed by Shiba Inu’s $18.49 billion market cap, the ecosystem shows immense potential for further expansion. With Shibarium’s rapid development and SHIB’s growing prominence as the 12th largest cryptocurrency, the future looks bright for the meme-inspired cryptocurrency.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Shibarium Hits ATH
Shiba Inu's Shibarium Hits All-Time High in Total Locked Value
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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