Shiba Inu's Shibarium Surprises With 2.35% Growth In Boredom In New Accounts
As revealed by data from Shibariumscan, the number of
new accounts added to Shibarium, the layer-2 blockchain rollup
designed for the ecosystem around the popular cryptocurrency Shiba Inu
(SHIB), saw an impressive surge on the last day of September. In
just 24 hours, the number of new accounts literally increased by 2,350%, from
20 new accounts per day by 470.
The reason for this parabolic rise is unknown,
but as a result, the total number of active accounts on the Shibarium network
reached 943.
Of course, this increase in activity had a domino effect on
other blockchain metrics. Probably the most important thing is the number of
new transactions, which skyrocketed by 214% in the analyzed period, from 3,190 to
6,826.
Interestingly, however, the metrics that report rates and
network revenue remained almost unchanged. For example, the
total amount of BONE spent on gas fees, which is characterized by
the “Transaction Fees” statistic, increased by only 36.57%.
But where is the economic effect?
All this may seem like a lot, but compared to
the number of new accounts flooding the Shiba Inu blockchain, it becomes clear
that these newcomers did not have many interactions with the
chain.
The logic behind the transaction process on Shibarium is
that the user spends BONE on fees and then a portion of those fees are
converted to SHIB and then these SHIB tokens are burned.
Basically, the logic behind Shibarium is to make the
Shiba Inu token more scarce and deflationary, and if users come,
but don't interact, the whole point of the blockchain becomes just one of
useless energy consumption.
