Shibarium, a Layer-2 network for Shiba Inu, has experienced a significant drop in transaction volumes, reflecting the overall inactivity in the cryptocurrency market.
Decline in Shibarium Transactions
According to Shibariumscan, daily transactions have plummeted by 99.8%, from 4.8 million to 9,590. This dramatic decrease coincided with a general lack of market activity in late August.
Shibarium's Achievements Amid Crisis
Despite the decrease in transactional activity, Shibarium boasts stable overall statistics—total transactions have surpassed 1.5 billion, and block count has exceeded 12 million. The network recently celebrated its second anniversary, showcasing its resilience even in challenging times.
Shiba Inu Team's Safety Warnings
The Shiba Inu team warns users of potential threats related to fake tokens and phishing attempts. They advise caution when interacting with unknown links and emphasize the importance of verifying wallet sources to protect assets from unofficial tokens.
While Shibarium faces temporary challenges, its long-term potential remains promising, indicating its significant role within the Shiba Inu ecosystem.
