CDS Crypto News SHIB Token Rockets Up by 2.5% as Shibarium Reenters the Scene
Crypto News

SHIB Token Rockets Up by 2.5% as Shibarium Reenters the Scene

Shibarium, a leading layer-2 blockchain for Shiba Inu enthusiasts, proudly surpasses 100,000 wallets on its platform.

508
Shib Token Rockets Up By 2.5% As Shibarium Reenters The Scene

Crypto News– An important achievement for the platform has been the successful activation of token withdrawals through the bridge.

SHIB Token Rockets Up by 2.5% as Shibarium Reenters the Scene

This particular functionality, which empowers users to move tokens across different networks, has been highly anticipated due to earlier setbacks caused by software glitches during its initial launch. These technical issues resulted in significant funds becoming locked within the network, presenting a setback for the ambitious project.

In response, the development team diligently worked to address these challenges, collaborating closely with Polygon blockchain developers. As a derivative of Polygon, Shibarium employs customized code based on its parent platform.

Shytoshi Kusama, the lead developer and co-founder of Shiba Inu, underlined the full operational status of Shibarium in an August 28 blog post.

Remarkably, following its relaunch on August 28, the platform witnessed a staggering surge with a swift addition of 35,000 wallets within just 24 hours.

The renewed success of the network also had a positive impact on the value of its native token, SHIB, which climbed by 2.5% in the past 24 hours, reaching $0.00000817. Throughout an extensive four-month testing phase, millions of wallets were actively involved, conducting a remarkable 22 million transactions. Presently, the block explorer confirms the engagement of 101,395 wallets, contributing to an impressive 434,215 transactions spanning 347,355 blocks. With an impressively low average block time of 5 seconds, the platform demonstrates its efficiency and capability.

Despite the initial setbacks leading to transaction disruptions and price fluctuations, Shibarium has admirably rebounded and is now poised to leverage its expanding user base to solidify its position within the blockchain landscape.

Shib Token Rockets Up By 2.5% As Shibarium Reenters The Scene
Sources:coincu

Leave a comment

Leave a Reply

Related Articles

Sui Blockchain Faces First Major Outage: What Happened and What’s Next

Sui blockchain faces its first major outage—learn what happened, the impact on...

MicroStrategy Stock Reaches New High as Bitcoin Surges Above $98,000

MicroStrategy’s stock surged to a new all-time high as Bitcoin reached $98,000,...

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana Face Resistance

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana...