CandleFocus Shiba Inu: Shibarium Total Value Locked Surpasses 7M
2024-09-28
Author: Content Editor
The Layer-2 blockchain Shibarium, associated with Shiba Inu, has reached a new all-time high Total Value Locked (TVL) of $7.03 million. This milestone indicates that investors are placing significant funds into Shibarium-based decentralized finance applications (dApps), showing growing confidence and activity within the network. The top three DeFi protocols on Shibarium contributing to the TVL are K9 Finance's Bonecrusher, ShibaSwap, and WoofSwap. The surge in TVL can be attributed to the launch of Bonecrusher, which introduced a liquid staking solution to Shibarium. Furthermore, the increase in token prices within the Shiba Inu ecosystem, particularly SHIB, has also contributed to the rise in Shibarium's TVL.
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