As an analyst, I’ve been tracking Shibarium, the layer 2 network for Shiba Inu, and I’ve noticed a significant jump in activity. Daily transactions increased by 44% – we went from 842 transactions on May 18th to 1,260 the following day. This indicates growing adoption and usage of the network.
While the recent rise is encouraging, it’s too early to say if it marks a significant turning point, as overall activity on the Shibarium network hasn’t shown much change yet.
Shibarium, a layer 2 blockchain, experienced a peak in transactions on April 19th, exceeding 7,400. Since then, activity has remained considerably lower, fluctuating between 700 and 3,000 transactions daily, and hasn’t shown any significant increase.
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Transaction fees on the network have stayed very low, recently costing only 0.00001 BONE for standard operations.
Recently, the Shibarium network underwent a reindexing process, causing its data trackers to show fewer transactions than were actually happening. It’s currently unclear whether the recent decrease in network activity is simply due to these trackers still updating after recent improvements, or if activity on the Shibarium network has genuinely slowed down.
SHIB isn’t moving
Trading activity in crypto futures decreased overall, with daily volume dropping 26.59% to $156 billion. While the total value of open contracts remained stable at around $127 billion, the amount of forced liquidations fell for the second day in a row, decreasing by 40% to $156 million.
Several cryptocurrencies, like SHIB, saw price increases, but trading activity decreased overall and other altcoins performed inconsistently. This suggests traders are becoming more cautious and less eager to capitalize on the recent price recovery.
As of right now, SHIB’s price is almost unchanged, rising just 0.10% in the last day to $0.000005744. This small increase does reverse the price decrease seen yesterday.
The record of the Federal Reserve’s April 27-28 meeting will be published later today. At the meeting, the Fed decided to hold interest rates steady, keeping them between 3.5% and 3.75%. However, this decision wasn’t unanimous – it sparked the most disagreement within the committee in over 30 years, resulting in an 8-4 split among its members.
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2026-05-20 17:03