Shibarium, the layer-2 blockchain solution for the Shiba Inu ecosystem, has reached an important milestone by surpassing 12 million blocks. This event occurred less than a week after predictions of its potential arrival.
High Adoption Levels for Shibarium
According to data from Shibariumscan, the total number of blocks in Shibarium has reached 12,009,576. This is a significant event for the platform, which has shown consistent organic growth. The increase in the number of blocks indicates rising adoption, likely due to its speed within the Ethereum L2 ecosystem. Shibarium boasts an average block production time of five seconds, making it favored among L2 protocols.
Another indicator of growing interest in Shibarium is the number of transactions. The protocol has registered over 1.373 billion transactions from a total of 267 million addresses.
SHIB's Price Reaction to Network Growth
Amid Shibarium's increasing popularity, the ecosystem urged developers to implement two crucial updates. These updates aimed to enhance network connectivity and ensure protocol scalability. The goal is to improve the reliability of Shibarium and strengthen the ecosystem for users, which will help reduce cases of node failures.
Updates for Enhanced Scalability
Shibarium is not the only protocol showing growth. In the last 24 hours, the price of the Shiba Inu token increased by 5.5%, reaching $0.00001384, which was also reflected in a 55.33% uptick in trading volume at $323.5 million.
By surpassing 12 million blocks, Shibarium demonstrates notable growth and relevance within the blockchain industry, which, in turn, impacts token prices in the Shiba Inu ecosystem.
