The total number of wallets on the Shibarium network, which is the newly launched layer-2 blockchain on Shiba Inu, has already surpassed the 1 million mark in a solid rise since it was relaunched.
This milestone, which was announced in a blog post made on the 3rd of September by the official team of Shibarium- does imply that there were around 900,000 wallets that had been added since the relaunch of the network on the 28th of August, and just two weeks after the network first went live- although with a few technical hiccups along the way. According to data that was retrieved from the blockchain explorer of Shibarium, around 100,000 transactions had taken place on the 3rd of September, with peak activity of about 132,000 transactions being set for the 25th of August.
Shibarium Seems To Be Growing Exponentially
While the network activity on the Shibarium has already surged, the total value locked on the network has yet to get a surge in response. Currently, the TVL of the network stands at just about $1.06 million, which suggests that the users have been deploying very limited amounts of capital on this network. In one of their blog posts, the developers of the network went on to note that they have been collaborating with a bunch of third-party bridges in an attempt to assist investors with bridging other tokens over to the recently developed blockchain.
Additionally, the team from Shibarium had announced plans to renounce the contract for its governance token Bone, along with adding that they were looking to add a few more validators to the network in the next few weeks. As of the 1st of September, the users have been quite capable of utilizing Leash, Bone, and Shiba Inu– and a bunch of other tokens that were available on the network of Shibarium to lend, stake, and borrow tokens in order to earn rewards.