Shiba Inu’s Shibarium network has experienced a notable increase in Total Value Locked (TVL) within the last 24 hours, reaching a new all-time high. The surge in TVL has been accompanied by a rise in the number of fresh and active accounts on the platform, leading to heightened activity levels.
Shiba Inu’s Shibarium Achieves Record TVL
Recent data from DefiLlama reveals that Shibarium’s TVL has escalated from approximately $1.4 million to surpass $4 million in the past day. Despite a previous peak around $3.8 million in March, this latest surge marks the first time Shibarium has crossed the $4 million mark.
The growth in TVL can be driven by various factors. Sometimes, it reflects an increase in the value of locked assets. If the platform holds assets that have recently appreciated significantly, such as Shiba Inu (SHIB), the TVL will rise even without a change in the asset quantity.
Furthermore, a spike in TVL may signal broader market optimism. Particularly when users are more inclined to lock their assets during periods of positive sentiment regarding future returns.
Active Accounts on Shibarium Show Increased Engagement
An examination of Shibarium scanner’s new account data displayed a slight uptick during the previous trading session. The number of fresh accounts rose from 29 to approximately 743. Similarly, the chart for active accounts indicated growth, with active accounts climbing from around 537 to over 1,500.
Additionally, the volume of new transactions on the Shiba Inu network experienced a rise, aligning with other key metrics. Transactions surged from about 7,000 to over 11,000. Although these figures slightly dipped by press time, the overall upward trend highlighted a rising level of participation and activity on the platform.
Shiba Inu (SHIB) Continues its Upward Movement
According to CryptoCrypto’s analysis, Shiba Inu (SHIB) sustained its positive trajectory during the previous trading period.
The daily chart illustrated an increase of over 8% for SHIB, trading around $0.00002. These gains followed a significant 22% spike recorded in the prior trading session.
The considerable rise in SHIB’s price in recent days stands as a significant driver behind Shibarium’s TVL surge and heightened network activity.