Shibariumscan, which surpassed an impressive 411 million transactions, has revealed the platform’s resilience in the face of market volatility.
The recent surge in user adoption and influx of dApp creators have contributed to Shibarium’s exponential growth. In the last few days alone, over 3 million transfers have been added, solidifying Shibarium’s position as a force to be reckoned with in the blockchain space.
This achievement is particularly impressive given the current daily transaction throughput of 1.03 million, which, although lower than its peak of 4.2 million transfers per day on February 20, reflects the stability of the platform and the potential for a further expansion.
Shibarium Forges Strategic Partnership and Expands Ecosystem
In a bid to strengthen its ecosystem and foster innovation, Shibarium has recently formed a strategic partnership with K9 Finance, a prominent player in the fintech industry.
This collaboration marks an important milestone for both parties as K9 Finance launches its native coin, KNINE, on the Shibarium platform. As a testament to their commitment, Shytoshi Kusama, the visionary leader behind SHIB, and Kaal Dhairya, the brilliant lead developer of SHIB, have been named official advisors to K9 Finance.
On March 14, @ShibaXanders posted the following on X:
“I remembered when $SHIB was on the news first time. This is really amazing. The work of @K9finance is amazing. The community and the team. Proud to be part of the advisors.”
The partnership between Shibarium and K9 Finance showcases the platform’s dedication to fostering collaborations that drive growth and further its mission to revolutionize the blockchain landscape. This strategic alliance will undoubtedly open doors to new possibilities, leading to better user experiences and the creation of innovative decentralized applications.
Factors Driving Shibarium’s Growth
Several factors have contributed to Shibarium’s significant transaction volume, among which are its low transaction fees and strong support from the Shiba Inu community. Shibarium offers transaction costs as low as 0.0000219 BONE ($0.000021), making it an attractive option for users looking to execute transactions on a blockchain network at minimal cost.
This cost-effectiveness, compared to the higher fees associated with major blockchain networks such as Bitcoin and Ethereum, is a major draw for both users and developers as it drives adoption and network activity levels.
Additionally, the dedicated Shiba Inu community has played a pivotal role in promoting Shibarium adoption. Community members, fueled by their enthusiasm for Shiba Inu projects, have actively encouraged others to use the network, contributing to its rapid growth in transaction volume.
Such collective effort has not only strengthened Shibarium’s user base but has also facilitated the deployment of a variety of applications on the network, including 15,553 total contracts and 9,316 tokens.
SHIB Navigates Challenging Waters Amid Market Turbulence
As Shibarium celebrates its record-breaking achievements, the price of Shiba Inu (SHIB), the second-largest meme cryptocurrency by market cap, has experienced a turbulent ride in recent days.
Showing a correlation with Bitcoin (BTC) price movements, SHIB has found a 28% decline in its value following Bitcoin’s correction from its all-time high of $73,750.
Investors may find these price fluctuations discouraging, but it is crucial to consider the broader context of SHIB’s ongoing development efforts. Notably, SHIB received recognition and appeared on Forbes’ prestigious list of top 10 cryptocurrencies to invest in.
Additionally, the cryptocurrency attracted attention on the popular financial show “Eye on Your Money,” where it was mentioned alongside Bitcoin. While these praises did not result in immediate price increases, they reinforce SHIB’s potential and the importance of its long-term growth prospects.
By Leonardo Perez
