Shibarium, the Ethereum-based Layer-2 scaling solution for Shiba Inu, continues its impressive performance. The protocol has pushed its daily average transactions to 4.77 million, according to data from Shibariumscan. This figure brings Shibarium just 300,000 transactions away from reaching a 5 million daily average, a significant achievement for the platform.
Source: Shibariumscan
Total Transactions Exceed Projections
Shibarium’s total transactions now stand at an impressive 735.43 million. This number surpasses earlier projection of 700 million by over 35 million. Notably, Shibarium reached the 700 million mark on Christmas Day, reflecting strong engagement from its user community.
Related article: Shibarium Drives SHIB Scarcity: Token Burns and Network Growth
The consistent increase in transactions highlights user confidence and trust in the platform. If Shibarium maintains its current trajectory, analysts predict it could achieve 10 million daily transactions by the end of Q1 2025. This optimistic projection is based on its robust growth and recent performance trends.
December brought additional growth for Shibarium, as total block production rose from 8.46 million to 8.7 million. These figures underscore the positive momentum within the Shiba Inu ecosystem. With the cryptocurrency market anticipating a bullish trend in the coming weeks, Shibarium’s growth positions it for potentially stronger performance.
SHIB Faces Price Fluctuations Amid Market Dynamics
Shiba Inu (SHIB), however, has faced volatility despite the ecosystem’s progress. The token recently rebounded to $0.00002177, driven by its daily burn mechanism and growing investor confidence. Yet, market pressures caused a 35.62% drop in trading volume, bringing it to $346.36 million.
Related article: Shiba Inu Developer Hints at Chainlink CCIP Integration for Shibarium
Currently, SHIB trades at $0.00002081, reflecting a 1.84% decline in the past 24 hours. Investors now look to Shytoshi Kusama, Shiba Inu’s lead developer, for guidance on 2025 plans. Many hope these updates will boost SHIB’s price and strengthen the project’s overall trajectory.
With consistent growth in transaction volume and block production, Shibarium remains a vital component of the Shiba Inu ecosystem, signaling promising prospects for its future.
The post Shibarium Breaks Records: Total Transactions Exceed 735 Million appeared first on FXcrypto News.
