Shiba Inu’s Shibarium TVL Hits $1 mn
Shiba Inu’s Layer-2 blockchain, Shibarium, has seen a surge in Total Value Locked (TVL), surpassing $1 million for the first time since September.
This coincides with a significant increase in the burn rate of SHIB tokens observed over the past week.
Most of the total value locked on the Shibarium network comes from decentralized exchanges, with MARSWAP and ChewySwap accounting for approximately $820,000 of the overall TVL.
The Layer-2 blockchain has seen a spike in transactions throughout December, with an average of 7 million daily transactions.
However, a 97% increase in SHIB’s burn rate has resulted in over 17 billion tokens being withdrawn from circulation, accounting for nearly half of Shiba Inu’s total supply.
(With inputs from Shikha Singh)
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