Shibarium Transaction Fees Skyrocket, Surge 500% Amid Spike in Network Activity

Stay up-to-date with the latest crypto news! U.Today presents the top headlines: Shiba Inu's layer-2 solution, Shibarium, has experienced a 500% surge in transaction fees due to increased network activity. Analyst Michael van de Poppe believes Bitcoin is nearing the end of its correction, with potential recovery in the future and a focus on altcoin rebound. Robinhood announces its Robinhood Connect feature, allowing Uniswap wallet users to easily purchase crypto assets in the United States, offering a special reward for first-time customers.

Shibarium Transaction Fees Surge by 500% Amid Network Activity Spike

Shibarium, the Layer-2 solution for the Shiba Inu protocol, has witnessed a remarkable 500% increase in transaction fees paid in its native BONE token. Data from Shibariumscan reveals a surge in gas commissions, rising from 12 BONE to 61.47 BONE.

The significant increase in Shibarium fees can be attributed to a surge in network activity. As Shiba Inu tokens have gained traction amidst market volatility and increased investor interest, the demand for transactions on the Shibarium network has escalated. This elevated activity is corroborated by a substantial 211% increase in active accounts, jumping from 1,724 to 3,650 over the same 24-hour period.

Bitcoin Approaching End of Correction, Suggests Top Analyst

Despite April marking Bitcoin's worst month since October 2023, prominent market analyst Michael van de Poppe suggests that the flagship cryptocurrency is nearing the conclusion of its corrective phase. In a recent Twitter post, van de Poppe noted that BTC has experienced a 20% decline from recent highs, with potential for further downward movement.

Anticipating a potential Bitcoin recovery, the analyst emphasized the importance of monitoring green zones between $56,000 and $58,000 in case of further price dips. Van de Poppe also projected that altcoins are likely to rebound before Bitcoin. As of this writing, Bitcoin is trading at $59,156, exhibiting a 3.27% gain over the past 24 hours, according to CoinMarketCap.

Robinhood Integrates with Uniswap Wallet, Expanding Accessibility

Popular online brokerage Robinhood has announced the integration of its Robinhood Connect feature on the Uniswap wallet. Through this collaboration, Uniswap mobile app users can now purchase cryptocurrencies using a debit card, bank transfer, or directly from their Robinhood account. This option is currently available only to users in the United States.

To commemorate the integration, Robinhood is offering a limited-time promotion. First-time Robinhood Connect users who purchase at least $10 worth of crypto using the feature in the Uniswap mobile app will receive a $10 USDC reward. This development significantly enhances the accessibility and convenience of crypto investing for retail users.