All articles tagged with #shibarium
Shiba Inu's Shibarium upgrade has introduced a new privacy feature using Fully Homomorphic Encryption (FHE) technology, marking a significant advancement in DeFi privacy standards. This development comes as Shiba Inu records 620 million transactions, raising questions about its potential impact on SHIB's market price.
The Shiba Inu team has confirmed that the Shibarium burn portal, Shib Torch, has successfully burned over 300 million SHIB tokens since its launch, despite community concerns about its functionality. Developer Kaal Dhairya addressed these concerns, clarifying that the platform is operational and exploring more efficient burning mechanisms. The team plans to enhance the system, potentially using Cross-Chain Interoperability Protocol (CCIP), to improve the burn process and reduce SHIB's circulating supply.
Shibarium has reached a new milestone with its Total Value Locked (TVL) nearing $5 million, reflecting increased investor confidence and network activity within the Shiba Inu ecosystem. This surge in TVL, alongside a significant increase in active accounts, suggests enhanced network adoption. Despite a notable rise in Shiba Inu's burn rate, which aims to reduce token supply, its impact on SHIB's price remains limited without stronger demand-side catalysts. SHIB's price has shown resilience, climbing over 7% recently, but still faces resistance at $0.00003500.
Shiba Inu's layer-2 network Shibarium is nearing 5 million blocks, marking a significant milestone. However, SHIB's price remains stagnant, with trading volume and burn rate both declining. Despite this, some on-chain metrics suggest a bullish outlook, including increased Net Network Growth and large transactions by whales. Additionally, Shiba Inu's fundamentals remain strong, with potential developments like a Shiba Inu Spot ETF and support for perpetual futures on Coinbase International Exchange.
Shibarium, the layer-2 blockchain of the Shiba Inu ecosystem, is nearing 5 million blocks, indicating increased validator activity. However, SHIB's price remains stagnant at $0.000024, and network activity has declined, with fewer transactions and new addresses. Despite a slight increase in the price of Bone ShibaSwap (BONE), Shibarium's Total Value Locked (TVL) has decreased, suggesting limited market confidence in the blockchain's potential for gains.
The Shiba Inu team's official marketing specialist, Lucie, has expressed determination to see Shibarium reach the top of the cryptocurrency market, regardless of changes in team partnerships. Meanwhile, Shibarium transactions have surged, with a 5,027% increase in daily transactions, and close to 260 million SHIB coins have been burned in the past week to reduce circulating supply.
Shiba Inu's Shibarium, a Layer-2 solution for the meme-inspired cryptocurrency, has experienced a remarkable surge in active accounts, with a 625% increase in just one day, reaching 4,457 active accounts. Despite this, transactional activity has not reached previous levels, prompting speculation about the impact of the influx of new users on the network's transactional activity and the tokens of Shiba Inu's ecosystem.
The burn rate for SHIB has surged by 162.85% with over 16 million Shiba Inu coins burned in the last 24 hours, while the SHIB price attempted a breakout but ultimately declined. Analysts and SHIB team members anticipate a new all-time high for SHIB after the upcoming Bitcoin halving, with expectations of reaching over $0.001. Additionally, Shibarium has achieved a new milestone with over 413 million transactions and 1.3 million linked wallets.
Shiba Inu's layer 2 scaling solution, Shibarium, has achieved a new all-time high Total Value Locked (TVL) of $2.25 million, signaling its growing prominence in the crypto space. The surge in TVL reflects increased demand and adoption, with over 1.3 million active wallet addresses and 400 million transactions. Additionally, Shiba Inu's meme coin, SHIB, has experienced significant market gains, positioning itself to potentially lead a bullish meme coin season as Bitcoin's dominance diminishes.
The year 2023 in cryptocurrency was marked by significant events including Ripple's legal victory over the SEC, the launch of Shiba Inu's Shibarium layer-2 network, and Bitcoin's price surge nearing $45,000. Other notable occurrences were PayPal's stablecoin launch, Bill Gates' rejection of Web3, the depegging of USDC, Do Kwon's arrest, Sam Bankman-Fried's conviction, BlackRock's Bitcoin ETF filing, and Changpeng Zhao's downfall with Binance's hefty fine. These events reflect the dynamic and evolving nature of the crypto industry, with legal and regulatory developments shaping the landscape.
Shytoshi Kusama, the lead behind the Shiba Inu cryptocurrency project, prioritizes network adoption over token burning. While a "burn portal" is being developed to facilitate token burns, Kusama believes that the real growth potential lies in building projects on the Shibarium chain to increase adoption. The Shibarium platform has recently achieved significant milestones, surpassing one million transactions and accumulating over 1.1 million wallet addresses.
Robinhood's Shiba Inu (SHIB) reserves increased by 1.3 trillion tokens in August, reaching a total of 34.1 trillion tokens. SHIB now ranks as the third largest asset in Robinhood's crypto wallet, accounting for 4.26% of its overall crypto portfolio. The growth in SHIB holdings is attributed to the release of Shibarium, a Layer 2 solution by Shiba Inu, which encountered scalability challenges but was successfully relaunched with the help of Polygon. Since the Shibarium relaunch, Robinhood's SHIB holdings have decreased by 66.47 billion tokens. This highlights SHIB's relevance and adaptability in the evolving digital economy.
Robinhood has become one of the largest holders of Shiba Inu (SHIB) tokens, with a total of 34 trillion tokens. The trading platform also holds a significant amount of Ethereum (ETH) and Bitcoin. The increase in SHIB holdings coincides with the reopening of Shibarium, Shiba Inu's layer-2 scalability solution. Despite Robinhood's growing holdings, the SHIB token is currently experiencing a bearish sentiment in the market.
The Shiba Inu development team has announced that Shibarium, their layer-two scaling solution, is now available for public use after encountering initial hiccups. The team has reopened all previously locked channels and ensured the safety and security of funds. Over 65,000 wallets and more than 350k transactions have been recorded on Shibarium. The withdrawal time from the Shiba Inu bridge is working as intended, with Leash, WEth, and SHIB taking 45 minutes to three hours, and BONE taking up to seven days. The Shiba Inu team expressed gratitude to the Polygon development team, particularly Sandeep Nailwal, for their assistance during the challenges faced by Shibarium.
The Shiba Inu community is optimistic about the future price of SHIB following the launch of Shibarium, a layer-2 scaling solution. Many investors hope to become millionaires by holding Shiba Inu, as it has made previous investors millionaires. The Crypto Basic estimates that an $850 investment in Shiba Inu could potentially reach $1 million if the digital asset increases approximately 1,176 times. Projections suggest that Shiba Inu could reach $0.009 by canceling three more leading zeros, with some predicting it could trade as high as $0.054 in the future. Factors such as blockchain growth, investor interest, partnerships, and real-world utility are expected to contribute to Shiba Inu's potential rise in value.