Shibarium Blockchain Witnesses 450% Rise in New Accounts in 24 Hours, Signaling Significant Uptick in User Interest

The Shibarium blockchain, integral to the Shiba Inu (SHIB) ecosystem, has witnessed an extraordinary 450% rise in new accounts in the last 24 hours

The Shibarium blockchain, which is a layer-2 solution integral to the Shiba Inu (SHIB) ecosystem, has witnessed an extraordinary 450% rise in new accounts in the last 24 hours. This surge in user interest is accompanied by a notable increase in transaction fees paid using BONE tokens, which are the native token of the Shiba Inu ecosystem.

The key takeaway is that the number of new accounts for each time under evaluation has now surpassed the 27 mark, while the day before it was only 6. The increasing interest in the network is evident in the spiking numbers of new users joining. Furthermore, the total number of active accounts also saw an uptick of 23%, moving from 489 to 602 over the time period.

Interestingly, this surge in new users coincided with an increase in the amount of tokens paid as fees using BONE, which is Shiba Inu's native token. As a result, the fees associated with transactions went up from 19.31 BONE to 40.14 BONE.

This token is used as a gas fee for transactions in Shibarium, and a portion of each fee is converted to SHIB and burned. This results in a reduction in the overall supply of the token, which causes it to be deflationary.

In response to the rush of new accounts and the increased transaction amounts, the network also saw an uptick in the amount of activity that occurred within transactions. To put that into perspective, the number of transactions has skyrocketed to 4,319 per day, which is a 35.6% increase from the previous day.

It's possible that new users are joining the network in order to investigate the platform or to acquire BONE and SHIB tokens, which will ultimately help the network as a whole. It is likely that the recent price behavior of Shiba Inu tokens is the basis for the revived interest in Shibarium, which has been observed recently.

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