Pseudonymous developer Shytoshi Kusama has just unveiled plans to launch a special Top-Level Domain (TLD), the last part of a web address after the dot, for the Shiba Inu (SHIB) ecosystem. In a series of tweets on social media platform X, Kusama says domains are significant as the identity layer of the internet. “For 40 […]
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A deep-pocketed Shiba Inu (SHIB) trader is suddenly moving trillions of SHIB out of a Netherlands-based crypto exchange platform. New data from whale-surveying platform Whale Alert reveals that the Shiba Inu whale has shifted 4,584,530,677,374 SHIB, worth about $33 million, out of Bitvavo and into an unknown wallet. According to Ethereum (ETH) blockchain explorer Etherscan, […]
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Shiba Inu’s (SHIB) new layer-2 scaling solution is continuing its rapid growth, leading to a spike in staking for the altcoin used to operate its gas fees. New data from SHIB blockchain tracker Shibariumscan finds that the total number of transactions over Shibarium has surpassed 2.5 million while the number of daily transactions sits just […]
The post Shiba Inu Layer-2 Blockchain Shibarium Continues Explosive Growth, Leading To Spike in BONE Staking appeared first on The Daily Hodl.
Shibarium network activity has soared despite the price of SHIB falling more than 20% since the tumultuous launch of the layer-2 network.
The total number of wallets on Shiba Inu’s newly launched layer-2 blockchain, the Shibarium network, has surpassed the one million mark in a meteoric rise since its relaunch.
The milestone — announced in a Sept. 3 blog post by the official Shibarium team — means there were at least 900,000 wallets added since Shibarium’s relaunch on Aug. 28, and only two weeks after the Shibarium network first went live — albeit with some technical hiccups.
According to data from the Shibarium blockchain explorer, nearly 100,000 transactions have occurred as of 5:04am UTC Sept. 3, with a peak activity of 132,000 transactions being set on Aug. 25.
While network activity has surged, the total value locked (TVL) on the Shibarium network has yet to surge in response. At the time of publication Shibarium’s TVL stands at just $1.06 million, suggesting that users are only deploying very small amounts of capital on the network.
In their blog post, Shibarium developers noted that they are currently collaborating with a number of third-party bridges to assist investors with bridging other tokens over to the new blockchain.
Additionally, the team announced plans to renounce the contract for its governance token Bone (BONE) and added that they are looking to add more validators to the network in the coming weeks.
As of Sept. 1, Shibarium users have been able to utilize Shiba Inu (SHIB), Bone (BONE), Leash (LEASH) and many of the other tokens available on the Shibarium network to lend, borrow and stake tokens to earn rewards.
While many Many Shiba Inu holders had hoped for a sharp uptick in the price of the various Shiba Inu ecosystem tokens following the launch of Shibarium, the overall price action for SHIB, BONE and LEASH tokens hasn't seen the expected uplift.
Related: Shibarium wallets surpass 100K after SHIB devs relaunch bridge
Though it witnessed some moderate gains in the leadup to the launch of Shibarium, the price of SHIB has since fallen a touch over 20% since the botched launch on Aug. 16, according to data from CoinGecko.
The respective values of the remaining Shiba Inu ecosystem tokens have not fared much better. The price of BONE has fallen 15% over the past 14 days while LEASH has dropped 14.2% within the same timeframe.
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A mysterious Shiba Inu (SHIB) whale is suddenly moving trillions of the memecoin after its developers brought the project’s layer-2 scaling solution Shibarium back online. New data from whale-surveying platform Whale Alert reveals that an anonymous deep-pocketed SHIB investor abruptly shifted a staggering 4,642,530,677,374 tokens, worth about $38 million, from one unknown wallet to another […]
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A Shiba Inu (SHIB) ecosystem altcoin ignored the wider crypto market downtick and surged by nearly 15% on Thursday. Bone ShibaSwap (BONE) is trading at $1.41 at time of writing, up from $1.23 a day ago. The 104th-ranked crypto asset by market cap is also up nearly 26% in the past week. BONE is used […]
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The relaunch of memecoin Shiba Inu’s (SHIB) layer-2 scaling solution Shibarium has reached over 50,000 wallets, sparking a rally for Bone ShibaSwap (BONE), the token associated with paying the protocol’s gas fees. Shibarium, which launched earlier this month, experienced technical difficulties last week associated with the rush of new users and transactions taking place over […]
The post Shiba Inu (SHIB) Layer-2 Protocol Shibarium Relaunch Reaches 50,000 Wallets, Spurs BONE Rally appeared first on The Daily Hodl.
A mysterious Shiba Inu (SHIB) whale is suddenly moving trillions of SHIB as the project launches its new layer-2 scaling solution, Shibarium. New data from whale-surveying platform Whale Alert reveals that a deep-pocketed SHIB investor has abruptly shifted a staggering 4,654,881,590,632 tokens, worth about $40.7 million, from one unknown wallet to another unknown wallet. The […]
The post Mysterious Shiba Inu Whale Abruptly Moves 4,657,881,590,632 SHIB Amid Launch of Shibarium Layer-2 Solution appeared first on The Daily Hodl.
The world’s largest crypto exchange platform by volume has announced support for memecoin Shiba Inu (SHIB) as a collateral asset for one of its loan programs. In a new company statement, Binance says that it’s adding SHIB, alongside a handful of other altcoins, as collateral to its flexible loan feature. Binance’s flexible loans allow users […]
The post Crypto Exchange Binance Announces Addition of Shiba Inu (SHIB) As Collateral Asset for Flexible Loans appeared first on The Daily Hodl.
New data from market analytics platform Santiment reveals that mid size crypto investors have been scooping up Shiba Inu (SHIB) at a rapid rate over the last two months. According to Santiment, crypto sharks and dolphins have accumulated $9 million worth of the memecoin during the last eight weeks, a “significant amount” for the Dogecoin […]
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