Shibarium, a layer 2 blockchain developed by the creative minds behind Shiba Inu (SHIB), has shattered expectations by achieving incredible milestones in transaction throughput. Shibariumscan, which surpassed an impressive 411 million transactions, demonstrated the platform’s resilience in the face of market volatility.
The recent surge in user adoption and influx of dApp builders has contributed to Shibarium’s exponential growth. Over 3 million transfers were added in the last few days alone, solidifying Shibarium’s position as a force to be reckoned with in the blockchain space.
This achievement is especially impressive considering that the current daily transaction throughput is 1.03 million. Although this is lower than the peak daily transfer volume of 4.2 million on February 20, it reflects the platform’s stability and potential for further expansion.
Source: Shibariumscan
Shibarium expands its ecosystem by building strategic partnerships.
Sybarium recently signed a strategic partnership with K9 Finance, a leading player in the financial technology industry, to strengthen its ecosystem and foster innovation.
This collaboration marks an important milestone for both parties as K9 Finance launches its native coin, KNINE, on the Shibarium platform. As a testament to their commitment, Shytoshi Kusama, SHIB’s visionary leader, and Kaal Dhairya, an accomplished SHIB lead developer, have been appointed as official advisors to K9 Finance.
I remembered when $SHIB It first appeared on the news. It’s really amazing. work of @K9 Finance It’s amazing. Community and team. I am proud to be a member of the advisory board. LFG #K9 unit https://t.co/i1FJXs5qY0 pic.twitter.com/QLCob54Owy
— Xanders Shib🇻🇪 (@ShibaXanders) March 15, 2024
Shibarium’s partnership with K9 Finance demonstrates the platform’s commitment to fostering collaboration that fosters growth and furthers its mission to revolutionize the blockchain landscape. This strategic partnership will undoubtedly open the door to new possibilities, enhance user experience and create innovative decentralized applications.
SHIB overcomes difficult situation amid market turmoil
While Sybarium is celebrating record-breaking performance, the price of Shiba Inu (SHIB), the second-largest meme cryptocurrency by market capitalization, has experienced turbulence in recent days.
SHIB, which is correlated with Bitcoin (BTC) price movements, has lost 28% of its value since the Bitcoin correction from its all-time high of $73,750.
Total crypto market cap. Chart: TradingView
While investors may find these price movements disappointing, it is important to consider the broader context of SHIB’s ongoing development efforts. In particular, SHIB received recognition by being included in Forbes’ list of the top 10 cryptocurrencies worth investing in.
SHIB price action in the last 30 days. Source: Coingecko
Cryptocurrency also received attention when it was mentioned along with Bitcoin on the popular financial program ‘Eye on Your Money’. While these praises didn’t lead to an immediate price surge, they reinforced the importance of SHIB’s potential and long-term growth prospects.
Featured image from Pixabay, chart from TradingView