Shibarium Achieves 2 Million Total Transactions: Daily Trading Volume on the Rise

Shibarium is making waves in the crypto world by surpassing 2 million total transactions.

Shibarium Breaks Through 2 Million Total Transactions

Shibarium, the Layer 2 solution for Shiba Inu (SHIB), has seen a steady increase in transaction numbers.

It has recently been revealed that the total number of transactions has surpassed 2 million, with daily transactions exceeding 200,000.

The SHIB team had reported in a blog post on the 3rd of this month that Shibarium had crossed 1 million total transactions.This means that the total number of transactions has doubled in approximately 10 days.

The previous record for daily transactions was set on August 25, 2023, with 130,840 transactions. This record has been significantly surpassed.

Data published on Shibariumscan as of 12:00 on September 12, 2023, reports the following statistics for Shibarium's total transactions, connected wallets, and daily transactions.

Impact on SHIB Burning?

Shibarium has also reported that SHIB tokens are burned (permanently removed) in each on-chain transaction.

For this reason, there are high expectations within the community for an increase in burn volume with Shibarium.

"It was reported on the 10th of this month that "338,915,708 SHIB had been burned in the last 7 days."

While some have pointed out that the burn rate has decreased, it was also reported on the 11th that "the burn rate had increased by 333% in the past 24 hours."

Shibarium focuses on solutions like "scaling, reducing transaction time, lowering fees, and expanding the development framework."

Therefore, it is expected that as services utilizing Shibarium and their users increase, the number of burns will also further increase.

Note that Shibburn's official website reports the following for "Total Burning, Total Supply, and Circulating Supply of SHIB as of September 12, 2023".