Over the last 24 hours, Shibarium, the network of Shiba Inu, has experienced a significant increase in Total Value Locked (TVL), reaching a new all-time high. This surge in TVL has been accompanied by a noticeable uptick in both new and active accounts on the platform, leading to heightened user activity.
Record High TVL for Shiba Inu’s Shibarium
Based on data from DefiLlama, Shibarium’s TVL has skyrocketed from around $1.4 million to over $4 million within the past day. This latest surge represents a new peak for Shibarium, surpassing the previous high of approximately $3.8 million recorded back in March.
Various factors can contribute to an increase in TVL. It can be a result of the appreciation in the value of locked assets. For instance, if the assets held on the platform, like Shiba Inu (SHIB), experience a price surge, the TVL will rise even if the quantity of assets remains constant.
Moreover, a rise in TVL may signal a wider bullish sentiment in the market, particularly when users are more willing to lock their assets in anticipation of future returns.
Heightened Activity in Shibarium Accounts
Analysis of the new account chart on the Shibarium scanner showed a modest spike during the previous trading session. The number of new accounts surged from 29 to approximately 743. Similarly, the active account chart indicated an uptick, with active accounts increasing from around 537 to over 1,500.
Furthermore, the number of new transactions within the Shiba Inu network also experienced a rise, aligning with other key metrics. Transactions increased from about 7,000 to over 11,000. While these figures slightly dipped recently, the overall upsurge reflects a growing level of engagement and activity on the platform.
Shiba Inu (SHIB) Maintains Upward Trajectory
As per CryptoCrypto’s analysis, Shiba Inu (SHIB) continued its positive momentum during the latest trading session.
On the daily chart, SHIB surged by more than 8%, trading at approximately $0.00002. These gains followed a significant 22% spike observed in the previous trading session.
The notable increase in SHIB’s price in recent days has been a pivotal factor contributing to the surge in Shibarium’s TVL and overall network activity.