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Shiba Inu Marketing Manager Lucie shared a crucial development in the Shibarium Layer 2 blockchain. The marketing manager highlighted that the ecosystem recorded significant success as its Total Value Locked (TVL) reached an all-time high (ATH ).
Shibarium TVL exceeds $7 million
In an article on X, Lucie celebrated Shibarium’s rapid growth as its TVL reached $7.03 million. Notably, TVL refers to the amount of assets currently staked or locked on the platform. This reflects user confidence in the protocol, and this high metric for Shibarium means more funds have been committed to the ecosystem.
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Furthermore, Lucie pointed out that unprecedented heights in Shiba Inu ecosystems have become daily occurrences. This suggests that the Shibarium protocol has grown rapidly and supports the growing confidence investors now have in the Layer-2 network.
This achievement is ahead of the expected Shibarium upgrade called Cancun hard fork. Once deployed, it will be the second of the year. The upgrade will support developers and ensure a faster, smoother and more secure ecosystem.
The marketing executive also highlighted that K9BONE and BONE tokens have benefited from this increased TVL and growing adoption. Lucie draws attention to these achievements to strengthen investor confidence in the Shiba Inu development team.
Top Performing Shibarium dApps Drive Increased TVL
Ecosystem member SpecialSHIB identified Shibarium-based decentralized applications (dApps) driving this increase in a related article. The three best performing Shibarium protocols are K9 Finance, ShibaSwap and WoofSwap.
K9BONE has the highest TVL, at $3,120,000. ShibaSwap and WoofSwap recorded $2,460,000 and $848,546 respectively. The three protocols alone account for approximately 91% of the ecosystem’s new ATH of $7.03 million.
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At the same time, recent activities show that Shibarium transactions have significantly increased by over 267%. This resulted in a rise of 3,090 to 11,360 transactions in a span of three days. Interestingly, the number of Shibarium transactions has a correlated effect on the price of SHIB. Every time the count spikes, SHIB tends to register a rally.
At the time of writing, Shiba Inu was trading up 1.77% at $0.00001983 in 24 hours.
