Recent occurrences in the Shiba Inu ecosystem include speculations on the Shibarium relaunch. Recall that the Layer-2 scaling network technology’s initial release got clouded with some traffic glitches that made it stop producing blocks.
Per a recent development, amid speculation regarding the potential of Shibarium in Shiba Inu ecosystem development, a top crypto exchange, Bitstamp, has highlighted the ongoing plans for the anticipated Shibarium relaunch among its top three crypto trends for the week.
As revealed in a recent tweet, trends about Shibarium’s imminent relaunch were ranked first in Bitstamp’s top three.
Describing Shibarium’s anticipated relaunch hype in a video, Bitstamp stated, “Shiba Inu announces plans for a public relaunch of Shibarium only days after a failed initial launch. [The team] aims to rectify the technical issues and provide access to its ecosystem.”
Here are the top 3 #CryptoTrends from this week:
— Bitstamp (@Bitstamp) August 25, 2023
🦊 Shibtoken plans to restart Shibarium's public launch after initial failed start
📉 Ordinals still make up majority of BTC transactions despite lower prices
📱 Phantom Wallet introduces a feature allowing apps to authenticate… pic.twitter.com/8ZMG5q31cr
Bitstamp Top 3 Trends For The Last Seven Days
Aside from the hype hovering around the Shibarium’s second launch, other crypto trends spotlighted in Bitstamp’s top crypto frenzies for the week include updates on how ordinals seemed to be making the most out of Bitcoin transactions despite the associated low costs.
In addition to the trends above, the newly introduced phantom wallet functionality was highlighted to be among the top three trends for the past week.
Clarification Ahead Of A Shibarium Launch
According to one of our previous reports, Shiba Inu developer Kaal Dhairya explained that the functionality of the Shibarium network solution remains valid despite the availability of the Shibarium explorer.
Elucidating further, the developer noted that ShibariumScan employs an open-source version of Blockscout, and the development team remains committed to designing a hosted version of the Shibariumscan soon.
It is worth noting that the Shibarium has begun operation in private mode. The development team is on deck to ensure improved technology security measures before releasing it officially the second time.
Shibarium’s Usability Continues To Soar
Although there is no official announcement for the second release, Shibarium has resumed block production and the technology solution is currently seeing a surge in usability.
Per data from Shibariumscan, the number of interacting wallet addresses on the Layer-2 solution blockchain has surpassed 54,000, while over 15 million BONE has been staked.
At the time of writing, Shiba Inu is worth $0.00000814, reflecting an increase of 0.6%. The asset’s market cap is $4,806,180,269, with a market cap dominance of 0.44%.
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