Shibarium Transactions Soar 760% in Two Days, Hints at Bullish Momentum
Shibarium, the layer-2 network of Shiba Inu, has seen an astonishing 760% surge in daily transactions between October 18 and 19. Data from Shibariumscan reveals that daily transactions climbed from 28,110 to 324,590 during this period, with a total of 242,890 transactions recorded on October 20.
This significant increase has sparked curiosity about the factors driving this growth. According to Lucie, Shiba Inu's Marketing Lead, Shibaswap, Shibahub, Shib the Metaverse, and Shib Marketplace may be contributing to the trend.
Shibaswap, a decentralized exchange (DEX) launched on the Shibarium network in May, has seen an increase in trading volumes, directly impacting daily network transactions. DeFiLlama data indicates an 8% rise in weekly trading volume for the Shibex DEX.