- Shibarium sees unexpected surge could this signal a lasting recovery
- Shiba Inu’s Layer 2 network shows potential for a comeback
- Transaction numbers rise Shibarium’s future growth may be closer than expected
Shiba Inu’s Layer 2 network, Shibarium, has experienced a surprising surge in daily transactions, raising questions about a potential recovery. According to data from Shibariumscan, daily transactions on September 19 jumped to 17,410, an increase of 10,300 from the previous day’s count of 7,110. Though this increase is substantial, it is still miles away from the more than 4 million transactions recorded in late August.
Shibarium fell significantly after the peak in August, with only 84,090 transactions on August 28. The daily number of transactions has since then ranged between thousands, with occasional brief spikes of 1.26 million on September 6. Such fluctuations have resulted in the overall trend being considered to be standing still more than ever. Many people may wonder whether the network can achieve the same momentum as before.
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Can Shibarium’s Recent Growth Signal a New Chapter?
Despite the recent boost, Shibarium’s overall performance in September has been underwhelming. The number of blocks has exceeded that of 13million, and the addresses within the network have also increased to more than 272million. Nonetheless, the growth in the number of transactions has been minimal on a daily basis, with the numbers mostly remaining below 20,000. This trend of flatlining has been linked to larger market conditions as well as internal problems, such as the recent Shibarium bridge exploit that led to the halting of the stake/unstake feature.
Currently, Shibarium has 1.57 billion transactions. Nevertheless, in the absence of a steady upward pattern in transaction activity, one cannot tell whether the recent boom is an indication of a larger recovery or a transitory spurt.
With its expanding network and a potential rebound in market sentiment, there may still be hope for the Layer 2 platform to see a more sustained recovery in the coming months. The coming weeks will be critical in determining whether this surge is a fleeting moment or the beginning of a more substantial comeback.
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