Shibarium, the Layer-2 blockchain developed by the creative minds behind Shiba Inu (SHIB), has shattered expectations by reaching an extraordinary milestone in transaction throughput. Surpassing an impressive 411 million transactions, Shibariumscan has revealed the platform’s resilience in the face of market volatility.
The recent surge in user adoption and the influx of dApp builders have contributed to Shibarium’s exponential growth. Over the past few days alone, more than 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 platform’s stability and potential for further expansion.
Source: Shibariumscan
Shibarium Forges Strategic Partnership, Expanding Its Ecosystem
In a move to fortify its ecosystem and foster innovation, Shibarium has recently formed a strategic partnership with K9 Finance, a prominent player in the financial technology industry.
This collaboration marks a significant 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 SHIB lead developer, have been appointed as official advisors to K9 Finance.
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. LFG #K9Unit https://t.co/i1FJXs5qY0 pic.twitter.com/QLCob54Owy
— Xanders Shib🇻🇪 (@ShibaXanders) March 15, 2024
The partnership between Shibarium and K9 Finance showcases the platform’s dedication to fostering collaborations that drive growth and fuel its mission to revolutionize the blockchain landscape. This strategic alliance will undoubtedly open doors to new possibilities, leading to enhanced user experiences and the creation of innovative decentralized applications.
SHIB Navigates Challenging Waters Amidst Market Turbulence
While Shibarium celebrates its record-breaking achievements, the price of Shiba Inu (SHIB), the second-largest meme cryptocurrency by market capitalization, has experienced a turbulent ride in recent days.
Exhibiting a correlation with the price movements of Bitcoin (BTC), SHIB has encountered a 28% decrease in value following Bitcoin’s correction from its all-time high of $73,750.
Total crypto market cap. Chart: TradingView
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 was featured on Forbes’ prestigious top 10 list of cryptocurrencies to invest in.
SHIB price action in the last 30 days. Source: Coingecko
Additionally, the cryptocurrency garnered attention on the popular financial program “Eye on Your Money,” where it was mentioned alongside Bitcoin. While these accolades did not result in immediate price surges, they reinforce SHIB’s potential and the significance of its long-term growth prospects.
Featured image from Pixabay, chart from TradingView