Key Points
- Shibarium’s Total Value Locked (TVL) surged from $1.4 million to over $4 million in 24 hours.
- Significant increase in new and active accounts on Shibarium.
- Shiba Inu (SHIB) price continues to rise, showing strong market performance.
Shibarium’s TVL Surge
Shiba Inu’s Shibarium network has experienced a dramatic increase in its Total Value Locked (TVL) over the past 24 hours, setting a new record. This surge saw the TVL rise from approximately $1.4 million to over $4 million. This is a significant milestone, as it marks the first time Shibarium has surpassed the $4 million threshold. Previously, the highest TVL recorded was around $3.8 million in March.
The increase in TVL can be attributed to several factors. One primary reason is the appreciation in the value of the assets locked within the platform. When the value of these assets, such as Shiba Inu (SHIB), rises, the TVL increases even if the quantity of assets remains unchanged. Additionally, a higher TVL often reflects a broader bullish sentiment in the market, indicating that users are more willing to lock in their assets during periods of optimism about future returns.
Increased Activity on Shibarium
The Shibarium network has also seen a notable rise in the number of new and active accounts. An analysis of the Shibarium scanner’s new account chart revealed a significant spike during the previous trading session, with the number of new accounts jumping from 29 to around 743. Similarly, the active account chart showed an increase, with active accounts rising from approximately 537 to over 1,500.
This heightened activity is further reflected in the number of new transactions on the Shiba Inu network. Transactions increased from about 7,000 to over 11,000, indicating growing engagement and activity on the platform. Although these numbers had slightly declined at press time, the overall surge points to a robust and active user base.
Shiba Inu’s Price Performance
Shiba Inu (SHIB) has maintained its positive trend over the last trading session. The daily chart shows that SHIB increased by over 8%, trading at around $0.00002. These gains followed a significant 22% spike observed during the previous trading session, highlighting the strong market performance of SHIB.
The price trend of Shiba Inu reflects the growing confidence and interest in the cryptocurrency. As the Shibarium network continues to develop and attract more users, the value of SHIB is likely to see further positive movement. This upward trend is a testament to the strength and potential of the Shiba Inu ecosystem.
Conclusion
The recent surge in Shibarium’s TVL and the increase in new and active accounts highlight the growing interest and engagement in the Shiba Inu ecosystem. With the continued positive performance of SHIB, the future looks promising for Shiba Inu and its community. As the network continues to evolve and expand, it is poised to achieve even greater milestones in the cryptocurrency space.
