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Shibarium, the Shiba Inu (SHIB) Layer-2 protocol, appears set to hit a new milestone amid sustained adoption in the crypto space. This adoption has led to an increase in the number of Shibarium wallet addresses.

As more users embrace the network, the number of wallet addresses has surged considerably and is now about to reach 1.9 million.

Growing utility and network appeal

According to data from Shibariumscan, the total wallet address now is 1,899,389. This shows that with an additional 611 addresses, Shibarium would reach the 1.9 million milestone. This suggests the growing engagement within the Shiba Inu ecosystem.

The rising wallet address indicates that more users have joined the Shibarium network, suggesting that the Shiba Inu ecosystem has continued to grow an army of loyal community members.

Given that Shibarium supports native tokens such as SHIB, LEASH and BONE, the increasing number of wallet addresses could soon lead to increased activity.

For instance, this massive wallet count might increase token transactions, staking and governance decisions. All these could enhance the utility of the ecosystem’s tokens and improve the value of SHIB.

Shibarium surpasses major block milestone

Meanwhile, the wallets have been actively transacting; the total transaction volume currently stands at 551,059,737. Additionally, the daily transaction on Shibarium is 4.67 million, representing an average of more than 2.5 transactions per wallet.

As recently reported by U.Today, Shibarium was on track to hit a major total block milestone of 8 million blocks. As of this writing, the protocol has surpassed it, and the total number of blocks now registered is 8,032,699.

This validates Shibarium's linear growth progression over the past year.

In the cryptocurrency market, SHIB has grown by 10.61% in the past 24 hours to trade at $0.00002739. SHIB’s market volume has soared by a massive 122.29% to $3.24 billion as the ecosystem experiences heightened interest.