- Shibarium’s testnet records a significant milestone of 31 million transactions, building anticipation for its imminent mainnet release.
- Token burns contribute to potential positive price events for $SHIB, $BONE, and #leash tokens.
Cryptocurrency enthusiasts are buzzing with excitement as the groundbreaking Shibarium protocol achieves a momentous milestone on its testnet. Recently, Cryptolight Shibarium shared the news that Shibarium has successfully processed over 31 million transactions on its testnet.
🥳
— Shytoshi Kusama™ (@ShytoshiKusama) July 21, 2023
This accomplishment is seen as a significant step forward for the protocol as it prepares for its highly anticipated mainnet launch. Market analysts predict that these developments could trigger positive price events for $SHIB, $BONE, and #leash tokens in the coming weeks.
Shibarium, designed as an Ethereum-based layer-2 network within the Shiba Inu ecosystem, has garnered attention for its potential to address Ethereum’s scalability challenges. With the mainnet launch on the horizon, the protocol is set to make a significant impact by enhancing the usability and value of the entire ecosystem. The recent surge in transactions on the testnet indicates growing interest and adoption, fueling anticipation for Shibarium’s official debut.
As the community awaits the mainnet launch, another critical aspect contributing to price dynamics is token burns. Shibburn (@shibburn) reports that over the past 24 hours, a staggering 34,970,737 tokens have been burnt, representing an 80.69% decrease compared to the previous period. Over the past 7 days, a total of 522,956,324 tokens have been burnt, indicating a 63.97% reduction. Token burns play a vital role in reducing the circulating supply of $SHIB tokens, potentially increasing scarcity and, in turn, impacting the token’s long-term price trajectory.
HOURLY SHIB UPDATE$SHIB Price: $0.00000788 (1hr 0.24% ▲ | 24hr 1.71% ▲ )
Market Cap: $4,645,207,634 (1.66% ▲)
Total Supply: 589,348,058,512,923TOKENS BURNT
Past hour: 2,486,716 (1 transaction)
Past 24Hrs: 34,970,737 (-80.69% ▼)
Past 7 Days: 522,956,324 (-63.97% ▼)— Shibburn (@shibburn) July 22, 2023
Shibarium’s achievement on the testnet and the ongoing token burns have generated a surge of optimism within the Shiba Inu community and beyond. With the mainnet launch drawing closer, market observers are closely monitoring the potential positive price events that may occur for $SHIB, $BONE, and #leash tokens. As Shibarium continues to evolve and demonstrate its capabilities, the cryptocurrency world eagerly awaits the next exciting chapter in the journey of the Shiba Inu ecosystem.
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Credit: Source link
