Shibarium plummets by 99.8% in just 10 days
11:10 ▪ 5 min read
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Shibarium sinks. In ten days, the daily transactions of Shiba Inu's layer 2 blockchain dropped from 4.8 million to less than 10,000, a decrease of 99.8%. It is not a slowdown but a brutal crash. Launched a year ago as the engine of the SHIB ecosystem, the network faces a spectacular loss of momentum. In a lethargic crypto market at the end of August, this drop draws attention to the actual adherence to this project, which is highly exposed in the media.
In summary
Shibarium, the layer 2 network of Shiba Inu, recorded a historic drop of 99.8% in its daily transactions in just ten days.
The volume fell from 4.8 million to 9,590 transactions per day, with no technical failures reported, in a generally subdued market context.
Despite this abrupt drop, the technical fundamentals of Shibarium remain solid with over 1.56 billion total transactions.
Between a warning sign and just a bump, the future of Shibarium will depend on its ability to relaunch adoption and propose concrete use cases.
A brutal collapse of activity in Shibarium
On August 20, Shibarium, the layer 2 solution of the Shiba Inu ecosystem, was still processing approximately 4.8 million transactions per day, as institutional investors resumed their positions. Ten days later, that figure fell to 9,590 transactions, a spectacular drop of 99.8%, according to official data from Shibariumscan.
Such an abrupt drop is rare, even in a market as volatile as cryptocurrencies. It immediately caught the attention of industry observers, in a context of general pessimism in the market.
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