- New transactions have dropped on the Shibarium.
SHIB has declined by close to 3% in the last 48 hours.
As a researcher with experience in the cryptocurrency market, I’ve been closely monitoring the developments surrounding Shiba Inu (SHIB) and its Layer 2 solution, Shibarium. Recently, there have been some notable changes that have piqued my interest.
As a researcher studying the Shiba Inu ecosystem, I’ve noticed that the Shibarium hardfork took place not long ago. Post-hardfork, I’ve observed some intriguing trends regarding transactions on the Shiba Inu Layer 2 network. Specifically, there seems to be an increase in transaction volume and a decrease in transaction fees compared to before the hardfork.
The Shibarium hardfork
On the 2nd of May, I confirm that Shibarium successfully executed a hardfork at block height 4504576.
As a Shiba Inu crypto investor, I’ve recently learned about the upcoming changes from their Layer 2 solution. The hardfork they mentioned will bring noticeable improvements to transaction fees and speeds. To be more precise, we can expect swifter transactions and less volatile fee structures.
How key metrics have trended on the Shiba Inu L2
An analysis of the data from Shibarium’s transaction history uncovered roughly 416 million total transactions, including about 415.5 million successful ones.
Upon closer inspection, I observed a deceleration in the number of fresh transactions in recent times, with the exception of a significant surge following the hardfork announcement, which registered approximately 23,000 transactions on that specific day.
At press time, the number of new transactions stood at 4,837.
The number of new accounts created has leveled off, registering only 32 new additions at present.
Furthermore, there are only 977 accounts currently in use.
Shiba Inu active addresses trends flat
Examining the seven-day activity of Shiba Inu’s wallet addresses didn’t uncover any notable trend. Although some addresses were active during this period, their behavior seemed typical.
At present, there are approximately 30,000 active addresses in the network. A significant increase in this figure was observed around March, with the number reaching over 100,000.
As a crypto investor, I’ve noticed that the number of active addresses on Shiba Inu (SHIB) and its layer 2 solution, Shibarium, hasn’t shown significant changes post the recent hardfork. Based on my observation of relevant metrics, it appears that this event didn’t bring about a noticeable surge in activity for these projects.
SHIB’s negative trend continues
Based on AMBCrypto’s examination of Shiba Inu’s daily price pattern, there has been a downward trend observable over the past 48 hours.
The graph indicated that the most significant upward shift happened on May 3rd, which was also the date of the Shibarium’s hard fork event.
Realistic or not, here’s SHIB market cap in BTC’s terms
On this particular day, the value of SHIB surged by more than 7 percent, resulting in a trading price approximately equal to $0.0000244.
At the moment of composition, its price stood around $0.000241, representing a decrease of roughly 1.8%, following a similar 1% drop in the preceding trading session.
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2024-05-07 03:03