Shibarium on Verge of Major Block Milestone

Shiba Inu’s layer-2 blockchain, Shibarium, has been active and continues to register significant growth in the Ethereum ecosystem. The L2 protocol is now on the verge of hitting a major milestone in the number of blocks mined.

Shibarium’s rapid growth and adoption

Shibarium is set to flip the 10 million block milestone. According to Shibarium’s can data, Shibarium has mined 9,995,183 blocks to date. This leaves it just 4,817 blocks away from achieving the significant milestone.

Notably, the ecosystem takes approximately 5.0 seconds to process a new block. The data highlighting the volume of blocks mined emphasizes a key fact about Shibarium: how fast transactions on the ecosystem are confirmed.

This speed has resulted in a total of 996,064,116 transactions thus far from 173,056,716 addresses. Meanwhile, Shibarium currently conducts a daily transaction of 2.17 million, a significant improvement from February figures.

These data highlight how the layer-2 protocol has witnessed rapid adoption within less than two years of its launch.

Analysts maintain that the growth figures are impressive, and as Shibarium looks certain to flip this milestone in a matter of days, community members will have high expectations.

That is, investors betting on Shiba Inu (SHIB) and other tokens on the blockchain expect more scalability and possibly new partnerships to drive adoption further.

SHIB community expectations and developer commitment

Meanwhile, the SHIB marketing lead, Lucie, has encouraged community members to stay true to the ecosystem as the development team focuses on improving Shibarium. Lucie’s message responds to critics of the ecosystem and its activities.

Lucie maintained that despite the criticism, the team keeps building, and it would be a mistake to underestimate SHIB and its projects.

While Shibarium is closing in on the 10-million-block milestone, investors into SHIB remain concerned about the value of the meme coin. As of this writing, the SHIB price was changing hands at $0.00001261, a 4.29% decline in the last 24 hours.

Market observers say the decline is due to market volatility, possibly triggered by a 45.30% drop in trading volume to $199.2 million.