Shibarium’s Resurgence: 600K Wallets, 700K Transactions in One Week

Shiba Inu’s layer 2 solution, Shibarium, continues to gather a substantial fan base following its impressive resurgence. Just one week after its relaunch, this scaling network has witnessed a staggering 600,000 wallets engage in over 700,000 transactions, showcasing its unwavering strength.

Data from BlockScout indicates that on August 31, approximately 100,000 transactions occurred, trailing behind its previous peak of 132,000 on August 25. However, the total locked value in Shibarium stands at just $1.26 million. This suggests that users are deploying relatively modest capital within this layer 2 network. It’s less than 1% of the $35 billion locked in various crypto blockchains, as the data indicates.

With its successful return to the public eye, Shiba Inu’s marketing expert, Lucie, has unveiled a comprehensive roadmap. Investors can utilize the Shibarium-Ethereum Bridge to regain control of their assets within the Ethereum ecosystem.

Shibarium relies on a plasma bridge, employing periodic checkpoints and exit challenges to ensure the security and integrity of transactions. Furthermore, a software engineer known as CryptoLeadDev on the X app [formerly Twitter] conducted an experiment to examine the effectiveness of the Shibarium Bridge, shedding light on its inner workings.

Following a highly anticipated launch that encountered initial setbacks, SHIB developers diligently worked to recover the millions of dollars that had become stuck. Currently, token withdrawals from the Shibarium bridge are operational and accessible to users.

Shiba Inu Gains Listing In OKCoinJapan

In a related development, Shiba Inu has achieved a listing on a prominent Japanese cryptocurrency exchange. OKCoin Japan recently announced its decision to support the Polygon chain for two cryptocurrencies: Shiba Inu [SHIB] and the Ethereum-based stablecoin DAI. This support is scheduled to commence on September 7 at 5:00 p.m. JST.

Both of these digital assets are compatible with the Ethereum ERC20 chain. Notably, OKCoin Japan had initially introduced SHIB in February. This move by OKCoin Japan to embrace Polygon support for SHIB holds the potential to enhance its liquidity and make it more accessible to a broader audience.