The last two weeks were marked by a decline in Shibarium’s network activity.
Bulls shunned BONE as selling activity intensified.
Shiba Inu’s [SHIB] Layer 2 (L2) network Shibarium has witnessed a reduction in its usage in the last two weeks. An on-chain assessment of the L2’s performance revealed a decline in network activity since the 25th of October.
Shibarium sees decline
Firstly, the daily count of active addresses completing transactions on Shibarium has trended downward in the last 14 days.
As of 7th November, active accounts on the network totaled 626, data retrieved from Shibariumscan showed. This represented a 54% decline from the 1367 addresses recorded on 25th October.
Source: Shibariumscan
Also, new demand for the network has plummeted. Information from the same data provider showed that the count of new addresses created daily on Shibarium has shrunk by 92% in the past two weeks.
This has occurred despite the launch of Shiba Inu’s Shib Name Service” (SNS) – a
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