The Shibarium Price Reacts as Transactions Reach a Jaw-Dropping Milestone

Rally for Shibarium huge deal surpasses 27 million as market as a whole experiences rebound.

After Bitcoin’s (BTC) price retested its 2023 high, the cryptocurrency ecosystem is now experiencing a massive upswing. Many other currency systems have also seen a tremendous upturn in price and activity, similar to Bitcoin’s $41,675 trading price. According to Shibarium Scan, the total number of transactions for Shibarium has surpassed 27,000,000, making it one of the main benefactors of this positive market attitude.

Data shows that the Shiba Inu-based Ethereum Layer-2 scaling solution has 7.84 million transactions per day, which is perhaps the greatest number ever recorded in a single day. Up until late November, Shibarium transactions were rather stable. However, this year, the cryptocurrency saw a parabolic change, with over 700,000 transactions reported in a single day.

From that point on, the pace of transactions has been relentless, rising steadily over five million until finally peaking at almost seven million.

As neither the explorer nor the protocol flinched when there were just a few thousand transactions recorded, consistency is an underlying theme in the rise of Shibarium transactions. It is a testament to the exceptional engineering that went into scaling the protocol correctly during its second life that Shibarium is now capable of managing significantly more traffic than when it was first developed.

Also Read: Kyberswap Will Help Victims of Exploit As The Hacker’s Deadline Approaches