|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transaction fees on Shibarium, the Shiba Inu ecosystem's layer-2 blockchain, have skyrocketed in the last day. Data from Shibariumscan shows that gas fees have increased from 15.67 BONE to 317 tokens, a whopping 2,024% rise.
Shiba Inu's Shibarium Network Sees 2,024% Transaction Fee Spike
Transaction fees on Shibarium, the layer-2 blockchain solution for the Shiba Inu ecosystem, have seen a dramatic 2,024% surge in the last day.
According to data from Shibariumscan, gas fees have skyrocketed from 15.67 BONE to 317 tokens, a staggering 2,024% increase.
For the uninitiated, BONE serves as the transaction fuel for the Shibarium network and is also the native token of the ecosystem围绕着Shiba Inu meme coin.
Shibarium Network Transaction Fees Surged 2,024% in Last Day: Details
As a reminder, SHIB Burn Rates Increase with BONE Fees
Importantly, BONE is not only used to pay for transactions but is also crucial in the process of burning the original Shiba Inu token, SHIB.
Hence, the deflationary nature of the SHIB token is fueled every time a network transaction uses BONE as a fee, as a portion of that BONE gets converted to SHIB and sent to a burn wallet.
The average BONE units spent per transaction have also seen a massive 1,188% surge, with costs increasing from 0.00345 BONE to 0.041 BONE, as reported by U.Today.
This is in response to the large increase in overall fees.
70% Spike in Shibarium Network Transactions
Meanwhile, it appears that the surging fees are linked to a broader uptick in network transactions.
From 4,537 to 7,715—a 70% increase—the total transactions were processed in just one day.
Moreover, the total active accounts using the Shibarium network saw a 157.14% increase during this period, from 42 to 108.
As Shibarium users continue to grow, it’s no surprise that the network usage is also on the rise.
However, the unexpectedly steep spike in transaction fees has sparked concerns among Shiba Inu holders regarding the long-term sustainability of the network.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- MetaHub Finance: A Multi-Level Marketing Scheme Targeting the Elderly
- Sep 20, 2024 at 02:40 pm
- MetaHub Finance has appeared on social networks and Telegram recently. It introduced itself as a project of Auralink Labs Pte Ltd (No UEA 202332656D)
-
- Bitcoin (BTC) Price Prediction 2025: CryptosRUs Analyst Projects a High of $250K-$300K
- Sep 20, 2024 at 02:30 pm
- Despite the current negative trend, analyst George from CryptosRUs remains optimistic about Bitcoin's future. He projects that Bitcoin's price could soar as high as $250,000 to $300,000 by 2025
-
- Claim Cyber Finance Airdrop Mastery: Claim Like a Pro
- Sep 20, 2024 at 02:30 pm
- Prioritizing safety is essential within the crypto industry. This guide outlines frequent scams related to Cyber Finance airdrops and gives guidance on how to
-
- Terraform Labs Bankruptcy Plan Approved: What Lies Ahead for Investors?
- Sep 20, 2024 at 02:30 pm
- Terraform Labs is officially shutting down as its bankruptcy plan has been accepted. The SEC has accused the company of fraudulent activities that caused its investors to lose $40 billion when the TerraUSD and Luna tokens collapsed in 2022. After a long legal battle, the court has accepted its plan for bankruptcy. The firm has agreed to settle with the SEC. Let’s explore what lies ahead for the investors.
-
- WIF Price Prediction: Will the Dogwifhat Token Continue to Rise?
- Sep 20, 2024 at 02:30 pm
- Dogwifhat (WIF), a meme-coin, has shown significant optimism recently. WIF price grew 15% intraday alongside Bitcoin's (BTC) rise due to the Fed rate cut.
-
- The Ultimate Guide to AXELAR Airdrop: How to Claim Your Tokens
- Sep 20, 2024 at 02:30 pm
- $AXL Airdrop: Your Roadmap to Eligibility Verification and Successful Token Claiming
-
- $1INCH Airdrop: Claim Your Fortune!
- Sep 20, 2024 at 02:30 pm
- Ultimate $1INCH Claim Hack Revealed! Prioritizing safety is essential in the world of cryptocurrency. This article highlights typical frauds involving $1INCH airdrops and provides tips on how to avoid falling victim.
-
- Bitcoin (BTC) Market Stagnates as Realized Cap Flatlines at $622B, When Will Volatility Return?
- Sep 20, 2024 at 02:20 pm
- The Bitcoin market is in an extended phase of stagnation, and there isn't much activity on either side: demand and supply.
-
- OPENSEA Airdrop Triumph: Claim and Conquer
- Sep 20, 2024 at 02:20 pm
- Obtaining your blockchain OPENSEA tokens is easy! Just adhere to these simple steps and start using your tokens right away.