Shiba Inu’s Shibarium Restored to Full Functionality After Bridge Challenges
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Shiba Inu’s development team has successfully resolved issues with Shibarium, which faced challenges as funds were inaccessible in its bridge.
Sandeep Nailwal, co-founder of Polygon Labs, played a crucial role in addressing the problem. Shiba Inu’s layer two (L2) was brought back online on August 28, as stated in a blog post update. The post expressed gratitude to Sandeep Nailwal for providing additional resources to ensure a favorable outcome. Transfers involving SHIB, LEASH, and WETH now take 45 minutes to 3 hours, while BONE withdrawals require up to seven days.
Over the past week, SHIB has risen over 6% following positive market trends. As of August 29, SHIB ranks as the second-largest meme coin by market cap and holds the 16th position in the global crypto market. The meme token’s market valuation is approximately $4.94 billion with a global trade volume of $158.55 million. The Shibarium explorer data reveals 157,685 wallets and over 490,000 transactions, with more than 132,000 occurring on August 25, 2023.
Clever Robot News Desk 31th August 2023