Blog

Shiba Inu’s Layer-2 Shibarium community has stopped producing blocks once more after it encounters points and the Shiba Inu builders are on the lookout for methods to get well crypto property caught on the bridge and different issues with blockchain. After the Shibarium encountered points, whales and merchants are constantly dumping SHIB, BONE and LEASH tokens.

Shibarium Stops Block Production Again

According to Shibarium block explorer, the Ethereum-based layer-2 community Shibarium went online earlier today after which stopped producing blocks. Block manufacturing resumed just a few hours in the past. However, it stopped producing blocks once more after a brief run. The final transaction on Shibarium occurred hours in the past, at 5:42  AM UTC on August 17.

The Shibarium mainnet encountering points similar to the Shibarium testnet after launch led the crypto neighborhood to query the safety, security, and scalability of the blockchain.

Blockchain safety agency Beosin recommends customers to cease utilizing Shibarium quickly as $1.7 million in ETH are caught within the bridge. While the Shiba Inu crew is busy resolving points, messages are circulating that ETH caught is probably not recoverable and Shib Mainnet RPC is nonfunctional.

Also Read: Ethereum (ETH) Price Now Heading to $1,600 As It Loses Crucial Support

Whales Selling SHIB, BONE, LEASH Tokens

CoinGape Media earlier mentioned that whales and merchants will promote Shiba Inu ecosystem tokens. On-chain information confirms rise in whale exercise for SHIB, BONE, and LEASH tokens, inflicting costs to fall massively after Shibarium mainnet launch.

Lookonchain reported {that a} whale offered all BONE and SHIB holdings and bought 1.07 trillion PEPE cash price tens of millions. The whale deposited all 143 billion SHIB tokens to Binance after Shibarium stopped producing blocks.

Spot On Chain revealed {that a} whale closed his BONE deal earlier than the Shibarium launch and made revenue of $866k. Currently, the whale maintain no BONE tokens.

SHIB price fell 9% up to now 24 hours, with the worth presently buying and selling at $0.0000091. The 24-hour high and low are $0.0000090 and $0.0000099, respectively.

Meanwhile, BONE and LEASH tokens crashed 20%. BONE value presently trades at $1.32, whereas LEASH value is buying and selling at $449.

Also Read: BinanceUS’ Protective Order Against US SEC Referred To Magistrate Judge, What’s Next?

Varinder has 10 years of expertise within the Fintech sector, with over 5 years devoted to blockchain, crypto, and Web3 developments. Being a expertise fanatic and analytical thinker, he has shared his data of disruptive applied sciences in over 5000+ information, articles, and papers. With CoinGape Media, Varinder believes within the large potential of those modern future applied sciences. He is presently masking all the newest updates and developments within the crypto trade.

The introduced content material could embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty in your private monetary loss.