Despite the price of SHIB falling over 20% since the launch of the Shibarium network, network activity has significantly increased.
The total number of wallets on the Shibarium network has surpassed one million, with 900,000 wallets added since its relaunch.
Nearly 100,000 transactions have occurred on the network, with a peak activity of 132,000 transactions.
However, the total value locked on the Shibarium network remains low at just $1.06 million.
Shibarium developers are collaborating with third-party bridges to assist investors with bridging other tokens to the new blockchain.
The team plans to renounce the contract for its governance token Bone and add more validators to the network.
Shibarium users can utilize SHIB, BONE, LEASH, and other tokens for lending, borrowing, and staking.
The price of SHIB, BONE, and LEASH tokens has not seen the expected uplift following the launch of Shibarium.
The price of SHIB has fallen over 20% since the botched launch on Aug. 16.
The prices of BONE and LEASH have also dropped within the same timeframe.
Summary:
– Shibarium network activity has soared despite the falling price of SHIB.
– The network has surpassed one million wallets and experienced a high number of transactions.
– The total value locked on the network remains low.
– Shibarium developers are collaborating with third-party bridges and planning to add more validators.
– The prices of SHIB, BONE, and LEASH tokens have not seen significant increases.
