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 $20 billion in open interest and left leveraged traders in losses.
Underneath the surface, sentiment remains mixed. The fear index has hovered at fear for days, indicating that market sentiment remains cautious, with traders awaiting macroeconomic catalysts.
Fundstrat's Tom Lee referred to the Oct. 10 flash crash as the biggest liquidation event in five years in crypto; despite this, Lee predicts that crypto might rally into year-end after a sharp deleveraging, laying out his case during an interview Friday on CNBC’s Closing Bell.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP News Today: Crypto's 2025 Crossroads: Speculative MoonBull or Practical Utility with LTC & RLUSD?
- 2025 crypto focus shifts to Litecoin (LTC), Ripple's RLUSD, and MoonBull ($MOBU) as key growth drivers amid market evolution. - Litecoin strengthens retail adoption with 8.7M active users and 50% retail ownership, while institutional interest in treasuries grows. - Ripple’s RLUSD gains traction via cross-border aid partnerships, showcasing blockchain’s potential to disrupt traditional banking systems. - MoonBull ($MOBU) targets 9,256% ROI through presale liquidity locks and supply reduction, appealing to
Regulatory Changes Pave the Way for dYdX to Become the First Decentralized Exchange to Launch in the U.S.
- dYdX, a decentralized crypto exchange, plans to launch U.S. spot trading by late 2025, reversing prior restrictions due to regulatory clarity under Trump’s administration. - The platform will slash fees (50-65 bps) for major cryptos like Solana and adopt a non-custodial model with KYC, while delaying U.S. perpetual contracts until regulatory frameworks finalize. - A $5M–$10M token buyback program and lessons from a recent chain outage highlight efforts to stabilize operations and boost token value ahead
Decentralizing AI: Pi Network Backs OpenMind's Blockchain Partnership Platform
- Pi Network Ventures invests in OpenMind to co-develop a decentralized AI-robotics framework using blockchain technology. - The partnership aims to create a transparent, community-driven ecosystem for AI development with token-based rewards. - This marks Pi Network's expansion into Web3 infrastructure, aligning with trends in decentralized tech and AI governance. - Challenges include scaling technical complexities and competing with centralized AI providers while ensuring data privacy and interoperability.
SEGG Invests $300 Million in Web3, Aiming to Integrate Cryptocurrency with Sports Despite Facing Liquidity Issues
- SEGG Media launches $300M Web3 initiative to tokenize sports/entertainment assets and integrate blockchain, positioning as first NASDAQ-listed firm bridging crypto and traditional finance. - Strategy includes 80/20 capital allocation (BTC-focused treasury + strategic acquisitions) and ZIGChain partnership for real-world asset tokenization, alongside global Sports.com App expansion. - Despite 78.6% 3-year revenue decline and -1460% operating margins, company plans 2026 tokenization projects with validator
Trending news
MoreCrypto prices
More
