Shibarium Blockchain Witnesses 450% Rise in New Accounts in 24 Hours, Signaling Increased User Interest

The Shibarium blockchain, integral to the Shiba Inu (SHIB) ecosystem, has witnessed an extraordinary 450% rise in new accounts in the last 24 hours

The Shibarium blockchain, which is an integral part of the Shiba Inu (SHIB) ecosystem, has seen a remarkable 450% increase in the creation of new accounts within 24 hours, indicating a significant uptick in user interest.

As per data from Shibariumscan, the layer-2 blockchain for Shiba Inu (SHIB) has witnessed an astounding 450% increase in the creation of new accounts over 24 hours.

The new account creation rate for each time frame has now crossed the 27 mark, while it was only at 6 the previous day. The increasing interest in the network is reflected in the sharp rise in new users. Moreover, the total active accounts also increased by 23%, going from 489 to 602 over the period.

Interestingly, this surge in new users also coincided with a rise in the BONE tokens paid as fees. As a result, the transaction fees increased from 19.31 BONE to 40.14 BONE.

This token is used as a gas fee for transactions in Shibarium, and a portion of each fee is converted to SHIB and burned. This leads to a decrease in the token's overall supply, making it deflationary.

In response to the influx of new accounts and the higher transaction amounts, the network also saw a significant increase in the volume of activity occurring within transactions. To put that into perspective, the number of transactions has soared to 4,319 per day, marking a 35.6% increase from the previous day.

It's possible that new users are joining the network to explore the platform or to acquire BONE and SHIB tokens, which will ultimately benefit the network. The recent price action of Shiba Inu tokens is likely driving the renewed interest in Shibarium, which has been observed recently.

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