• Shibarium L2 mainnet relaunched and registered over 50,000 wallets
• Gas fee token BONE grew as rival PEPE dropped by 20%
• Shibarium devs increased scaling by 1500% with two new validators
Shibarium Layer-2 Mainnet Relaunches
The Shibarium Layer-2 mainnet has been relaunched and is now publicly trackable. The restarted mainnet has registered over 50,000 crypto wallets. Gas fee token $BONE saw an increase in price, while rival $PEPE dropped by 20%. This was due to the efforts of the Shibarium developers increasing scaling by 1500%, along with two new validators.
Positive Changes for Shiba Inu Ecosystem
The changes are positive news for the Shiba Inu ecosystem. The average block production speed is back to normal – five seconds at the time of this publication – compared to five minutes during its hiccups with stuck $1.8M of ETH and BONE on launch. Additionally, 100,905 transactions were made on August 24th.
BONE Grows While PEPE Drops
The official gas fee and governance token for the ecosystem, Bone ShibaSwap (BONE), reacted positively to these developments with a 6.6% increase in value to trade at $1.44; totaling a 15.7% weekly gain and occupying spot #102 by global crypto market cap . Meanwhile, Shiba Inu’s price declined 2.2%, currently changing hands at $0.00000808 according to CoinGecko . On-chain signals turned bearish with a slight drop in large transactions and net network growth.
Kusama’s Tweaks Pay Off
These positive changes come after several blog messages from Shytoshi Kusama about his scrupulous tweaking of the Shibarium mainnet carried out over the past few days – which seem to have paid off.. With Alchemy blockchain equipment providers consulted, Kusama increased scaling by 1500%, along with two new validators that are set up on the Layer-2 mainnet system .
Summer of Shibarium Begins
In conclusion, this brings us into what many believe will be “the summer of shibarium”; delivering new scaling opportunities for the vast SHIB army community as larger transactions become available on layer-two networks such as Tether USDT or Uniswap V3 .