Shibarium Transaction Count Drops Significantly Amid Network Upgrades

Shibarium, the layer two solution for Shiba Inu, has seen a significant decrease in transaction count over the last few days. According to Shibariumscan, the network's transaction count fell from 7,420 on April 18 to 864 on April 21. This drop follows recent upgrades to the network and its explorer.

The upgrades aimed to improve network capacity, data processing speed, and overall stability by moving servers and re-indexing the entire chain. During this process, the Shibarium block explorer was rebuilt from scratch, causing synchronization to progress steadily from 45% to 100%. However, the explorer showed lower figures than actual on-chain activity during indexing.

Once indexing is complete, resetting the explorer will reveal Shibarium's true level of network activity. This will make accurate transaction data, NFT, token balances, and wallet information visible again. The increase in crypto futures open interest suggests renewed capital inflows and rising demand for leverage.