Shiba Inu’s (SHIB) Shibarium Transaction Volume Cross 26M as Price Struggles in June

2023-7-2 19:30

The total number of transactions processed by Shiba Inu’s Shibarium testnet has surpassed 26 million. However, SHIB’s burn rate substantially declined in June.

According to Puppyscan data, the network processed around 9 million transactions in June, significantly increasing its adoption levels. During the period, the network’s average daily transactions were around 270,000.

Shiba Inu Shibarium Data (Source: Puppyscan)

Overall, the Shibarium testnet has completed 26 million transactions and processed 1.5 million blocks as of press time. The average block time is 9 seconds, while the network’s wallet addresses are above 17 million.

Read More: Best Upcoming Airdrops in 2023

SHIB’s Price Struggles in June, Burn Rate Declines

In June, SHIB’s price lost over 10% of its value due to the uncertainty that faced the crypto industry. During the period, the U.S. Securities and Exchange Commission (SEC) filed lawsuits against major crypto exchanges Binance and Coinbase.

While a wave of spot Bitcoin ETF applications from traditional financial institutions returned positive sentiments to the market, that was not enough to prevent the popular meme coin from losing around $1 billion of its market cap. According to BeInCrypto data, SHIB is trading at $0.0000076 as of press time after rising by over 5% in the last 24 hours.

Shiba Inu Price (Source: BeInCrypto)

Meanwhile, despite Shibarium’s rising activity, SHIB’s burn rate drastically dropped by around 89% in June to 1.65 billion from the 15.36 billion burnt in May, according to Shibburn data. During the last 24 hours, Shiba Inu’s burn rate remained very low, dropping by 35.5% to 7.75 million, while its weekly burn rate fell by 38.8%.

Read More: 9 Best Crypto Demo Accounts For Trading

SHIB Listed on Hong Kong Virtual Asset Index

On June 27, the Hong Kong Virtual Asset Consortium (HKVAC) included SHIB among the cryptocurrencies in its virtual asset list index. The Index signifies the collective performance of the most valuable digital assets in the global crypto market.

Wu Blockchain reported that the HKVAC is supported by Hong Kong legislator Johnny Ng, crypto exchanges Huobi, KuCoin, and others, adding that the index is non-governmental.

More From BeInCrypto: 9 Best AI Crypto Trading Bots to Maximize Your Profits

The post Shiba Inu’s (SHIB) Shibarium Transaction Volume Cross 26M as Price Struggles in June appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

SHIBA INU (SHIB) на Currencies.ru

$ 0 (+1.82%)
Объем 24H $11
Изменеия 24h: 8.92 %, 7d: 2.86 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 3428
Доступно / Всего 0 SHIB

shiba price june volume shibarium transaction inu

Источник: beincrypto.com

shiba price → Результатов: 126


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Shiba Inu Owners, Beware: Impersonators Are Targeting Your Pack!

The booming Shiba Inu (SHIB) community faces a growing threat: imposters posing as prominent developers on social media platforms like Telegram. Shibarmy Scam Alerts, a watchful community group, recently exposed this deceptive tactic, urging investors to exercise caution in the face of these digital wolves in sheep’s clothing.

Shiba Inu Sees Significant Dip Amid Market Turbulence

Shiba Inu, the second-largest memecoin in the cryptocurrency market, has encountered a notable downturn in recent hours, witnessing a 6% decline in its value today. According to data from Spotonchain, a collective of eleven wallets, likely representing a single whale investor, collectively offloaded 533.

Shiba Inu Price Takes A Dip Amid Other Market Volatility

Shiba Inu, the second-largest memecoin commanding a market capitalization of approximately $20 billion, has experienced a notable 17% decline in price since yesterday. This sudden downturn comes after a period of strong performance, signaling a potential return to the hiking zone.