Yuri Molchan
Layer 2 solution Shibarium significantly reduces transaction flow
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While the Shiba Inu development team continues to work and add important upgrades to the Layer 2 blockchain, Shibarium continues to see a significant drop in transaction activity, which has already been going on for nearly a month.
This coincided with a sharp drop in the SHIB burn rate, as this indicator turned out to be in the red today.
Shibarimumu is facing a massive drop in activity
According to data publicly shared by Sybarium Scan Explorer, popular meme cryptocurrency Shiba Inu’s layer 2 blockchain, Shibarium, continues to see no transaction activity. It has been down an astounding almost 100% for almost a month.
On April 17th, the highest daily number of transactions detected on Shibatium was 562,990, but today the number is only 16,800.
Still, the overall number of transactions continues to grow, albeit slowly. Currently, this indicator shows that a total of 417,469,578 transfers have taken place since the blockchain’s inception last August.
Earlier this week, the mysterious Shiba Inu leader known as Shatoshi Kusama announced the release of a new version of ShibaSwap DEX and a bridge from the Ethereum chain to Shibarium. This move will give users exposure to a wide range of products and services on both blockchains. This partly explains the low level of transaction activity on Shibatium at the moment.
Grok AI has a say on Shibarium and ShibaSwap
On Friday, Lucie, the official marketing lead for the SHIB team, tested the Grok AI bot on what it knows about the ShibaSwap DEX launched on Shibarium. Elon Musk’s AI provided Lucy’s humorous analysis of her DEX.
Grok jokingly likened the DEX expansion from Ethereum to Sybarium to “moving from a crowded city to a quiet suburb with better infrastructure and lower fees.” According to AI, the result is “faster transactions and lower costs for his SHIB enthusiasts around the world.”
The show also revealed what it believes to be ShibaSwap’s “most exciting feature.” It is the ability to configure new liquidity pools on Shibarium. Another new feature introduced to Shibarium by DEX is discovery charts and trend tokens.
Grok ultimately concluded that “Shibarium’s new and improved ShibaSwap offers faster transactions, lower fees, new liquidity pools, and enhanced token discovery.”
About the author
Yuri Molchan
Yuri is interested in technology and innovation. He has been writing about his DLT and cryptocurrencies since 2017. He believes that blockchain and cryptocurrencies have the potential to change the world in the future in many aspects. He has contributed to multiple crypto media. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, and Max Keizer.
