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Following
SHIB Shibarium's trading volume dropped by 75%, and Layer-2 network activity continued to be sluggish.
After a brief recovery, Shibarium's trading volume fell sharply by 75%, reflecting that the overall activity model of the Layer-2 network remained fragile and volatility persisted.
Overall caution in the cryptocurrency market has reduced on-chain participation, while the derivatives market has stabilized through improved funding rates, although spot demand has not yet returned significantly.
Developers are still expanding Shibarium's infrastructure, but continued user engagement and stronger adoption remain key to the network's long-term growth and stability.
Trading volume plummeted, short-term recovery failed to continue
Shiba Inu's Layer-2 blockchain Shibarium daily trading volume fell by 75%, marking another slowdown in online activity.
Data from Shibariumscan shows that the blockchain processed 1,280 transactions on July 11, well down from 5,170 on July 10. The decline followed a brief recovery that failed to translate into continued Internet use.
The latest data continues a trend that has emerged many times this year. Daily transaction volume jumped from 1,120 on July 9 to 5,170 on July 10, an increase of 361%. However, this momentum only lasted for one day before activity fell back to a lower level.
A similar pattern emerged in mid-June, when Shibarium recorded a large surge in transactions. Daily trading volume surged from 1,160 to 37,730, before quickly falling back to its previous range. These repeated fluctuations indicate that it is difficult for the network to maintain a high level of user activity over a long period of time.
In addition to reflecting blockchain usage, transaction volume often reflects user participation in decentralized applications and token transfers. Therefore, repeated declines followed by brief surges suggest that despite occasional outbreaks of activity, sustained user engagement remains limited.
The overall market environment is putting pressure on blockchain activity
Although a single cause has not been identified, multiple factors may have influenced the decline. The overall trading activity in the cryptocurrency market has declined, which may have reduced on-chain trading. In addition, temporary ecosystem activities or reduced user engagement may also lead to fluctuations in network use.
More importantly, after months of selling pressure, the cryptocurrency market has entered a relatively calm trading phase. Many investors seem to be waiting for clearer market direction before increasing their activities on blockchain networks. This caution has also affected multiple ecosystems, including Shibarium.
At the same time, derivatives data showed that market stability was improving rather than weakening again. Open interest has stopped falling, leverage has increased, and funding rates have turned positive. Even so, spot demand has not yet returned, and overall network participation is below its previous peak.
Developers are still actively expanding the Shibarium ecosystem, upgrading infrastructure and supporting new applications. As a result, current transaction volume numbers may not fully represent the long-term development or adoption potential of the network. Infrastructure growth tends to be independent of short-term trading fluctuations.
Shiba Inu market performance weakened simultaneously
Shiba Inu's market performance also reflected overall weakness. At the time of reporting, SHIB was trading at approximately US$0.000043, down 2.43% in the past 24 hours. The token fell 1.23% this week, consistent with caution in the digital asset market.
Conclusion
Shibarium's recent decline in trading volume highlights the challenge of translating short-term peaks of activity into sustained network growth. Although derivative indicators have stabilized and ecosystem development is still advancing, stronger user participation and the return of spot demand will have a high probability determine the level of network activity in the next stage.
