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
Hyperliquid (HYPE) Price Rally: Key Factors Behind Institutional Embrace in 2025
- Hyperliquid's HIP-3 upgrade enabled permissionless perpetual markets, driving $400B+ trading volume and 32% blockchain revenue share in 2025. - Institutional adoption accelerated via 90% fee reductions, TVL of $2.15B, and partnerships with Anchorage Digital and Circle's CCTP V2. - HYPE's deflationary model (97% fees fund buybacks) and $1.3B buyback fund fueled price surges, mirroring MicroStrategy's Bitcoin strategy. - Regulatory alignment with GENIUS Act/MiCAR and USDH stablecoin compliance strengthened
HYPE Token's Unpredictable Rise: Analyzing Altcoin Hype After the 2025 Market Overhaul
- HYPE token's 2025 volatility surged with Hyperliquid's $47B weekly trading volume, driven by whale accumulation and $340M buybacks. - Institutional support via HIP-3 protocol upgrades boosted open interest to $15B, but technical indicators signaled short-term fragility. - Regulatory shifts in UAE and Fed policy amplified risks, while social media FOMO triggered extreme price swings between $41.28 and $27.43. - Market share erosion to <20% and $11M liquidations exposed structural weaknesses despite instit
The Value of Including CFTC-Approved Clean Energy Marketplaces in Contemporary Investment Portfolios
- CFTC-approved clean energy platforms like CleanTrade enable institutional investors to hedge risks, diversify portfolios, and align with ESG goals through renewable energy derivatives. - CleanTrade's $16B in two-month notional value highlights urgent demand for scalable, transparent infrastructure to access low-carbon assets with real-time analytics and risk tools. - These platforms reduce market fragmentation by standardizing VPPAs, PPAs, and RECs, offering verifiable decarbonization pathways and dynami
The Influence of Educational Institutions on the Development of AI-Powered Industries
- Farmingdale State College (FSC) invests $75M in AI infrastructure , doubling tech enrollment and launching an AI Management degree blending technical and business skills. - Industry partnerships with Tesla and cybersecurity firms, plus 80% graduate employment rates, highlight FSC's success in aligning education with AI-driven workforce demands. - FSC's RAM mentorship program and NSF-funded AI ethics research foster interdisciplinary innovation, addressing supply chain and healthcare challenges through ap
Trending news
MoreCrypto prices
More
