Shibarium Hits All-Time High (ATH) in This DeFi Metric

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Lucie, Shiba Inu’s marketing lead, has shared a crucial development in the Layer-2 blockchain Shibarium. The marketing lead highlighted that the ecosystem had recorded a significant achievement as its total value locked (TVL) hit an all-time high (ATH).

Shibarium's TVL surpasses $7 million

In a post on X, Lucie celebrated Shibarium's rapid growth as its TVL reached $7.03 million. Notably, TVL refers to the amount of assets currently staked or locked on the platform. It reflects the trust users have in the protocol, and this high metric for Shibarium means more funds have been committed to the ecosystem.

Additionally, Lucie highlighted that all-time highs in Shiba Inu ecosystems have become a daily occurrence. This suggests that the Shibarium protocol has been expanding rapidly and supports the growing confidence that investors now have in the Layer-2 network.

This achievement is ahead of the anticipated Shibarium upgrade called Cancun hard fork. When rolled out, it will become the second in the year. The upgrade will support developers and ensure a faster, smoother and safer ecosystem.

The marketing lead also emphasized that K9BONE and BONE tokens have benefited from this increased TVL and growing adoption. Lucie draws attention to these achievements to boost the investors’ trust in Shiba Inu’s development team.

Top performing Shibarium dApps drive TVL surge

Ecosystem member SpecialSHIB identified the Shibarium-based decentralized applications (dApps) driving this surge in a related post. The three Shibarium protocols with the best performances include K9 Finance, ShibaSwap and WoofSwap.

K9BONE has the highest TVL, boasting $3,120,000. ShibaSwap and WoofSwap recorded $2,460,000 and $848,546, respectively. The three protocols alone account for approximately 91% of the ecosystem's new ATH of $7.03 million.

Meanwhile, recent activities show Shibarium transactions have soared significantly by over 267%. This saw an uptick from 3,090 to 11,360 transactions within the space of three days. Interestingly, the number of Shibarium transactions has a correlating effect on the price of SHIB. Whenever the count soars, SHIB tends to register a rally.

At the time of writing, Shiba Inu traded up 1.77% at $0.00001983 within 24 hours.