Shibarium transactions and fees surge, driven by market volatility and token burning, hinting at Shiba Inu token price growth
ecosystem has witnessed a notable rise in activity on its Shibarium network, marked by an increase in a key blockchain metric over the last 24 hours. This spike in transaction volume has concurrently led to a sharp increase in network fees. The amount of BONE tokens used to pay these fees climbed from 16.68 BONE to 32 BONE during the same period.
As per Shibarium's transaction model, BONE are used for transaction fees, and a portion of these tokens is converted into , which are then burned. This burning process decreases the circulating supply of Shiba Inu tokens, potentially boosting their price over time.Several elements are driving this surge in network activity.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.Caldera launches Guardian Nodes, creating a new path for teams to raise funds and decentralize their network
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