Shibarium passes one million wallets mark

After a turbulent start, the scalability solution Shibarium has reached a major milestone with the registration of more than one million wallets.

Activity on Shiba Inu's Layer 2 network, Shibarium, just keeps growing since the project's relaunch. More than one million wallets have been created on the network. The joyous news was shared in a blog post co-authored by the Shibarium team. The message? That 900,000 new wallet addresses have been added since the August 28 relaunch. According to data from the Shibarium Blockchain Explorer, the network processes about 100,000 transactions daily. However, the Layer 2 network has comparatively low TVL (Total Value Locked). As data from DefiLlama shows, the value is US$1.07 million.

Since Sept. 1, Shibarium users have been able to use Shiba Inu (SHIB), Bone (BONE), Leash (LEASH) and many of the other tokens available on the Shibarium network to borrow and stake.

However, the prices of tokens from the Shiba ecosystem are not affected by activity on the network. SHIB's price has fallen 10 percent in the past four weeks. Bone and Leash also lost double digits.