- Atomic Wallet supports Shibarium
- TVL, daily address, and price for SHIB were not impressive.
“Wen Shibarium” has been a frequently asked question in the Shiba Inu community. Thanks to a post by Atomic Wallet on the 27th of January, Shiba Iu might have gained ground prior to the introduction Shibarium.
This most recent announcement provided insight into what to anticipate when Shiba Inu’s Layer 2 solution ultimately launches.
Read Shiba Inu’s (SHIB) Price Prediction 2023-24
The Atomic connection
Named: A cryptocurrency wallet service provider Atomic Wallet In a post on 27/01/2018, the wallet announced it would support Shibarium. Customers can also use the wallet’s stake services to store tokens. What does this have to do with the Shibarium launch
SHIB utility via Validators and Delegators
In a summary, the essential details of the network were explained. blog post Published by Shibarium 25 January. Concerning the Layer 2 solution, we discussed, among others, the function of delegators and validators.
The Shibarium blog post explained that validators play a crucial role in the network by locking up a percentage of their tokens, which increases security for the network’s operations. In Shibarium, the validator is responsible for ensuring all transactions are legitimate and in accordance with the network’s protocols.
Delegators are people or organizations participating in the “delegated proof of stake” (DPoS) consensus procedure by handing their voting power to a validator.
Delegators, token holders who prefer to stake tokens into validator networks rather than run their nodes to help the network, are called token holders. This gives you an idea of the importance of Atomic’s support announcement for the Shibarium launch.
Shibarium will allow you to burn Shiba Inu’s (SHIB) and also offer a staking function. Shibarium will have an internal system that will automatically burn SHIB, increasing its burn rate. Over 28 million tokens had been burned the previous day, according to SHIB’s burn rate, which was over 28,000% at the time of writing.
These metrics look dull
Despite this, there have been a number of measures that remain ineffective. ShibaSwap, Shiba Inu’s sole decentralized exchange (DEX), has had a flat Total Value Locked (TVL). According to DefiLlama statistics, the TVL has not seen a significant upswing in recent years. At the time of writing, the TVL stood at $30.74million.
Source: DefiLlama
The daily active address has not seen much movement. According to metric reviews, it has yet not reached 10,000 users. There were 5,100 users as of the writing of this article.
Source: Santiment
How much is 1,10 100 SHIBs worth today?
Also, the daily Shiba Inu price analysis (SHIB), revealed that it may be experiencing a correction. Recently, the token experienced an upsurge in value that saw it rise by nearly 50%.
Although it is currently trying to consolidate, it recently experienced difficulties keeping up the rally. At the time of writing, its price was $0.000011.
Source: Trading View