Shibarium, the Shiba Inu-backed Ethereum-based layer-2 scaling solution has seen its first major transaction count slump in 2024. According to data from Shibarium Explorer, the average daily Shibarium transaction count at the time of writing is pegged at 6.06 million, down from the 7.84 million as of December 28, 2023.
Shibarium Transaction and Network Data Trend
Shibarium was launched in August last year without so much enthusiasm, especially as it recorded a mega crash when its traffic load initially surpassed the 1 million threshold.
The team behind the project, with support from ecosystem giants like Polygon, went back to the drawing board and boosted the protocol’s tensile strength. Upon rebirth, Shibarium recorded stability in its transaction load, and a remarkable twist was recorded toward the end of the year when the daily Shibarium transaction count jumped above 5 million for the first time.
Since then, the transaction count has stayed elevated with a range from around 7 and
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