The Shibarium layer-2 scaling solution for Shiba Inu reports substantial growth in its latest metrics according to reports from Shibarium Updates on the X platform.
The blockchain network now processes more transactions from more connected wallets while creating more blocks which shows the expanding use of the platform.
Within one day Shibarium processed over five million transactions which increased from 907 million to 912 million. Network traffic more than doubled from 907,567,620 on Thursday to 912,670,221 as measured today.
SHIB Burn Rate Soars 1,100%
The system recorded a 222 addition in the number of wallets linked to Shibarium when it reached 2,110,190 connections. Over the last day the network boosted its block output to 9,340,418 from 9,323,248 previous blocks.
The number of Shiba Inu token burns increased dramatically throughout the ecosystem alongside rising transaction numbers. In just 24 hours the community used Shibburn to dispose of 15,104,251 SHIB tokens in the network. The number of tokens burned everyday increased by 1,146.44% which is remarkable compared to 24 hours earlier.
A single transaction took out 14,089,269 SHIB tokens which made up most of the burned tokens. The burn campaign removes supply from circulation at a fast pace which may create value increases over time.
The SHIB ecosystem shows strong momentum as both Shibarium develops and more SHIB tokens get permanently destroyed. Community members and network users continue to boost trading activity while working together to decrease SHIB supply which makes the network stronger in the crypto space.
Both investors and developers will track these developments to understand how they shape the future route of SHIB and Shibarium.
