The total number of wallet addresses on the Shibarium network has surpassed the 1 million milestone, following on from a rocky launch which saw the new blockchain go down for nearly 24 hours.
, nearly 100,000 transactions have occurred as of 5:04am UTC Sept. 3, with a peak activity of 132,000 transactions being set on Aug. 25.While network activity has surged, the total value locked on the Shibarium network has yet to surge in response. At the time of publication Shibarium’s TVL stands at just $1.06 million, suggesting that users are only deploying very small amounts of capital on the network.
Additionally, the team announced plans to renounce the contract for its governance token Bone and added that they are looking to add more validators to the network in the coming weeks. As of Sept. 1, Shibarium users have been able to utilize Shiba Inu , Bone , Leash and many of the other tokens available on the Shibarium network to lend, borrow and stake tokens to earn rewards.
While many Many Shiba Inu holders had hoped for a sharp uptick in the price of the various Shiba Inu ecosystem tokens following the launch of Shibarium, the overall price action for SHIB, BONE and LEASH tokens hasn't seen the expected uplift.
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