- The Shiba Inu Layer-2 platform, Shibarium, nears 3 million transactions and has amassed over 1.2 million wallet addresses.
- Shibarium network’s daily transactions recently declined, but the platform continues to contribute to Shiba Inu burns as a community effort.
According to the daily transactions noted on the Shibarium explorer, Shibarium, the Layer-2 network of Shiba Inu, is poised to touch a significant utility milestone. From its launch and subsequent relaunch in August, Shibarium has consistently marked impressive growth milestones. The platform is now teetering close to 3 million transactions with 2,866,236 already in the bag. Furthermore, Shibarium currently boasts of 1,246,500 wallet addresses and has mined a total of 695,663 blocks.
Fluctuation in Daily Transactions and Network Utilization
While the network maintained a steady rate of close to 200,000 daily transactions for a period, a notable dip was observed recently, bringing the daily count to 40,500. Despite this, the overall network utilization stands at a mere 3.86%, indicating the vast potential for Shibarium’s increased use. Following its initial days, Shibarium underwent several operational enhancements, boosting its capacity by a whopping 1,500%. These updates fortified the platform’s ability to handle increased demands.
Shibarium’s Contribution to SHIB Burns: Lucie’s Clarification
Lucie, a prominent member of the Shiba Inu team, took to Twitter to address a common query about the burning of SHIB tokens. Here’s what she had to say:
When will Shibarium initiate the SHIB burn?"
Wrong question ☓The real question is, "When will you all migrate from exchanges and start using Shibarium?" (hello DEFI, remember bankrupted exchanges like FTX)
The burns are set per transaction, not based on tweets about burns.…
— 𝐋𝐔𝐂𝐈𝐄 | ✨Shib.io✨ (@LucieSHIB) September 18, 2023
Lucie emphasized the crucial role played by Shibarium users in initiating SHIB burns. She urged the community to transition from exchanges and actively engage with Shibarium to contribute effectively to the burning mechanism.
Binance Enables Shiba Inu Payments in Latin America
Binance, a leading crypto exchange, has recently introduced “Send Cash” – a crypto-centric solution that facilitates Shiba Inu transactions in nine Latin American countries. This initiative, powered by Binance Pay, allows crypto aficionados from these countries to transmit Shiba Inu and other digital assets seamlessly. Initially, users in these countries can forward digital funds to bank accounts in Argentina and Colombia with minimal transaction fees.
The overarching goal of “Send Cash” is to simplify cross-border transactions, ensuring efficiency and cost-effectiveness. Min Lin, Binance’s Regional VP for Latin America, accentuated the importance of this move, linking it to Binance’s dedication to enhancing financial inclusion in the region. With a significant fraction of adults in the Caribbean and Latin America lacking traditional bank access, solutions like “Send Cash” can bridge the gap and foster economic growth.
