Bitrabo Editorial
Shibarium, the layer-2 infrastructure connected to Shiba Inu, has reached an impressive milestone in its total value locked (TVL), surpassing $7 million. As of October 1, the TVL stood at $7.06 million, as reported by DeFiLlama.
Growing Popularity of Shiba Inu
The Shiba Inu team highlighted this achievement, stating, “This milestone in just one year showcases the strong engagement and confidence in Shibarium’s features,” in the latest issue of the SHIB Magazine. The network has executed over 7 million blocks and around 418 million transactions, involving nearly 1.8 million unique wallet addresses.
These figures reflect a vibrant and active network, indicating growing utility and adoption within the decentralized finance (DeFi) sector. On September 22, Shibarium’s TVL was merely $1.23 million, but it skyrocketed to a peak of $7.19 million by September 29, according to DeFiLlama’s latest data.
K9 Finance DAO leads the TVL growth, contributing $3.21 million, which represents a 3.8% rise in just 24 hours. This platform highlights the increasing trend of liquid staking, allowing users to earn staking rewards while keeping their assets liquid.
Additionally, ShibaSwap, the primary decentralized exchange (DEX) in the Shiba Inu ecosystem, now holds $2.48 million in TVL, reflecting a 2.74% increase from the previous day. Other smaller exchanges such as WoofSwap and ChewySwap contribute $809,801 and $433,984 to the TVL, respectively, while Marswap ranks fourth among DEXs with about $50,000 in TVL.
The steady growth of Shibarium signifies more than just numbers; it enhances the Shiba Inu ecosystem fundamentally. “The rising TVL of Shibarium is a clear sign of the platform’s increasing utility and adoption. By offering a more efficient, cost-effective, and scalable framework for Shiba Inu transactions, Shibarium is building a stronger and more dynamic ecosystem, which in turn boosts the value and utility of the Shiba Inu token,” concluded the Shiba Inu team.
Advancements in SHIB Eternity
In other developments, the Shiba Eternity web3 beta has officially launched for all Shiboshi, Sheboshi, and Shiba Eternity NFT holders, as noted in a post by marketing lead Lucie. “Following intense development, testing, and community input, we are excited to invite our loyal holders to explore the updated Shiba Eternity,” said Lucie.
The beta version features a completely revamped game with enhancements in visuals, gameplay mechanics, and overall user experience. Improvements include fixes for persistent game freezes and bugs, resulting in a smoother gaming experience. There’s also a force update feature to ensure players use the latest version for consistent gameplay.
October is set to bring competitive tournaments with crypto rewards and a new in-game shop featuring exclusive Shiba-themed items. “We’ve made these updates based on community feedback, showing our dedication to continuously evolving Shiba Eternity alongside its players,” Lucie added.
As of the latest updates, SHIB is trading at $0.00001604.
