Shiba Inu's Shibarium 742% Transaction Surge: Is This Comeback?
Shiba Inu Layer 2 Shibarium suddenly saw a surge in daily transactions, rising as much as 742% in the last 24 hours.
According to Shibariumscan, Shibarium recorded 17,270 in daily transactions in the last 24 hours, a sharp surge from the figure of 2,050 recorded Oct. 22, marking a 742% surge.
Shibarium transactions have largely fluctuated since Sept. 25 in a broad range from 1,970 to 19,620.
Shibarium no doubt saw large spikes but couldn't exceed 19,620, they were usually followed by a sharp drop, creating a haphazard pattern in the transaction record.
Though it might seem transactions on Shibarium picked up at some point in the month, they still remain far from the millions previously recorded on the Layer-2 blockchain.
Recent data from Shibariumscan gives the current count of total transactions as 1,568,611,766; total addresses as 272,707,592 and total blocks as 13,753,754.
Shiba Inu down 15% in October, but hopes remain
Shiba Inu is currently down 15% in October, a month marked by forced selling and false starts, with a historic sell-off dampening an otherwise bullish month for cryptocurrencies.
The market is adjusting to a slow grind higher after October’s record liquidation event, which erased nearly $20 billion in open interest and left leveraged traders in losses.
Underneath the surface, sentiment remains mixed. The fear index has hovered at fear for days, indicating that market sentiment remains cautious, with traders awaiting macroeconomic catalysts.
Fundstrat's Tom Lee referred to the Oct. 10 flash crash as the biggest liquidation event in five years in crypto; despite this, Lee predicts that crypto might rally into year-end after a sharp deleveraging, laying out his case during an interview Friday on CNBC’s Closing Bell.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Institutions Develop Blockchain Foundations, Signaling the Advancement of the Crypto Industry
- Institutional crypto adoption accelerates as venture funding, ETFs, and strategic acquisitions drive market maturation, per Cosmos Labs CEO Magnus Mareneck. - Coinbase's $375M Echo acquisition and BlackRock's $137.5M Ethereum/Bitcoin ETF inflows highlight infrastructure-building over speculation. - Cosmos emphasizes interoperability to support DeFi and tokenization, with partnerships enabling programmable banking and real-time settlements. - Mareneck warns of valuation risks (e.g., SEALSQ's 10.1x P/B rat
Solana News Update: Solana ETF Climbs While Token Declines: Institutional Demand Contrasts with Retail Outlook
- Bitwise's Solana Staking ETF (BSOL) raised $222.8M in assets on its 2025 debut, outpacing most new ETFs with $56M in first-day trading volume. - The fund offers direct Solana exposure with staking rewards, attracting institutional interest through a novel structure distinct from traditional spot ETFs. - SEC guidance on PoS and liquid staking enabled BSOL's launch, with Bitwise leveraging its European staking product experience to enter the U.S. market. - Despite BSOL's success, Solana's token price fell
Bitcoin Updates: The Crypto Market’s Psychological Maze Encounters AI’s Strategic Pathway Out
- Token Metrics AI Indices combat crypto volatility by using analytics to address psychological biases like FOMO and panic selling. - Bitcoin near $115,000 faces 2025-2026 price forecasts up to $500,000, driven by Fed rate cuts and U.S.-China cooperation boosting liquidity. - AI tools project $177,000–$427,000 BTC ranges based on market cap scenarios, while prioritizing risk mitigation through diversification and real-time monitoring. - Dynamic AI strategies balance growth and downside protection, using me
OceanPal’s Shift to AI and Blockchain Triggers 22.5% Drop in Share Price
- OceanPal Inc. pivoted to AI via a $120M investment in NEAR Protocol, launching SovereignAI to commercialize blockchain-based AI infrastructure. - The strategy targets 10% NEAR token ownership and leverages NVIDIA tech for confidential AI-cloud solutions, aligning with institutional interest in privacy-focused AI. - Despite continued shipping operations, OceanPal reported a $10.4M net loss and saw its stock drop 22.5% post-announcement, reflecting market skepticism about the strategic shift. - Backed by c
Trending news
MoreCrypto prices
More
