Shibarium, the second layer solution associated with the Shiba Inu, has achieved a significant milestone in Total Value Locked (TVL), marking a major milestone in its development and adoption. As of October 1, Shibarium’s TVL exceeded $7 million, reaching $7.06 million according to data from DeFiLlama.
Shiba Inu adoption is increasing
“Reaching this milestone within just one year of launch highlights the strong engagement and confidence in Shibarium’s capabilities,” the Shiba Inu team wrote in its latest report. edition From SHIB Magazine. The network saw significant activity, with over 7,121,009 blocks processed and an impressive total of 418,887,296 transactions, involving approximately 1,824,394 unique wallet addresses.
These numbers not only reflect the crowded network, but also show its increasing usefulness and adoption in the DeFi space. As of September 22, Shibarium’s total TVL value is only $1.23 million. However, within a week, TVL rose to a peak of $7.19 million on September 29, according to the latest data from DefiLlama.
Leading the growth in TVL is K9 Finance DAO, a liquid betting platform alone contributing $3.21 million to Shibarium’s TVL, representing a 3.8% increase in just 24 hours. This platform embodies the growing popularity of liquid staking – a feature that allows users to earn staking rewards while keeping their assets liquid.
Furthermore, ShibaSwap, the leading decentralized exchange (DEX) for the Shiba Inu ecosystem, has $2.48 million in total TVL value, indicating a 2.74% rise from the previous day. Other smaller DEXs like WoofSwap and ChewySwap also contribute to the diversity of the ecosystem, with TVLs of $809,801 and $433,984 respectively. Marswap boasts a TVL of ~$50,000 as the fourth largest DEX on Shibarium.
Shibarium’s continued growth speaks to more than just numerical achievements; It signifies the foundational improvement of the Shiba Inu ecosystem. “Shibarium’s rising TVL represents a tangible indicator of the platform’s growing utility and adoption. By providing a faster, cheaper and more scalable infrastructure for Shiba Inu-based transactions, Shibarium lays the foundation for a more robust and vibrant ecosystem. This in turn enhances the utility and value of the Shiba Inu token itself,” ” as the Shiba Inu team concluded.
Shibarium-based SHIB Eternity is entering the next phase
In other news, the Shiba Eternity web3 beta is now available to all Shiboshi, Shiboshi and Shiba Eternity NFT holders, according to statement Via X By Marketing Lead Shib Lucey. “After arduous months of development, testing and incorporating community feedback, we are thrilled to invite our dedicated holders to experience the upgraded Shiba Eternity,” said Lucy.
The beta is now open to game holders, showcasing a completely revamped game that improves the visuals, gameplay mechanics, and overall user experience. Among the improvements, constant game freezes and several bugs have been addressed, providing a smoother and more enjoyable gaming experience. Additionally, the update introduces a forced update feature to ensure that all players are using the latest version to play consistently.
October will also bring competitive tournaments with cryptocurrency rewards and a new in-game store offering exclusive Shiba-themed items. “We’ve designed the updates to directly reflect our community’s desires, emphasizing our commitment to making Shiba Eternity a game that constantly evolves with its players,” Lucy added.
At press time, SHIB was trading at $0.00001604.
Featured image created with DALL.E, a chart from TradingView.com