Shibarium L2 Registers 1M Wallets as Robinhood Adds 14T SHIB

Robinhood becomes the 5th largest Shiba Inu custodian as Shibarium hits a new milestone.

Robin hood and Shiba inu going on a DEFI adventure.
Created by Kornelija Poderskytė from DailyCoin
  • Over 1M wallets are now live on Shibarium as ShibariumScan.io gets a makeover.
  • California-based stock & crypto exchange Robinhood accumulates more SHIB.
  • Shibarium continues to operate in a five-second average block production time.

One of the largest mainstream cryptocurrency exchanges, Robinhood, added another 14 trillion Shiba Inu (SHIB) to its holdings. In blockchain data provided by Arkham Intelligence, Robinhood now stands as the fifth largest Shiba Inu custodian. With 34 trillion $SHIB tokens, the Californian exchange now holds $280 million of the canine coin.

Over the weekend, the scrupulous team at SHIB Token renewed ShibariumScan.io, the blockchain data explorer for the Layer-2 mainnet. This marks yet another milestone for Shibarium, which now holds over 959,000 transactions recorded on the blockchain.

Devs Break Out Guidelines for Shibarium

Shibarium has surpassed one million registered crypto wallets, now at a colossal 1,010,343. Previously, the Shibarium team released guidelines on operating on the blockchain, reminding crypto enthusiasts to Do Your Own Research (DYOR).

Programmers wanting to deploy a coin on the Layer-2 must adhere to certain rules: No attempt at copying Shiba Inu, BONE, TREAT, or any other Shiba Inu Ecosystem-affiliated name. Secondly, deployers must respect others and not launch with “offensive or inappropriate slurs,” declares Shibarium’s Telegram admin Archangel.

At press time, Shiba Inu is changing hands at $0.00000771 with a 1.7% decline in the past 24 hours, according to CoinGecko. $SHIB has failed to reclaim the $0.000008 major support line since August 30th, 2023. Shibarium L2 gas fee token Bone ShibaSwap (BONE) dipped even further, by 38.6% in the last 30 months.

On the Flipside

  • Even though both $SHIB and $BONE plummeted in double digits in the monthly perspective, Shiba Inu’s partner Bad Idea AI ($BAD) recorded 36.5% gains.
  • Robinhood’s Shiba Inu (SHIB) reserves fall short of Crypto.com’s $570 million and Binance’s $1.06 billion. 

Why This Matters

Layer-2 blockchains present plentiful scalability, interoperability, and other building opportunities.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.