Recently, there’s been a noticeable uptick in the attention towards ShibaSwap, the decentralized trading platform associated with the Shiba Inu cryptocurrency. The trading volume on ShibaSwap has skyrocketed, outpacing several established decentralized exchanges, which indicates a growing interest in this platform.
Data reveals that ShibaSwap experienced a remarkable surge of 244% in trading activity over the past week. The total value of trades soared to an impressive $10 million, up from just $2.93 million the week prior. This recent growth marks the highest activity recorded since January, when the trading volume peaked at $12.50 million, indicating a rejuvenation of interest in ShibaSwap.
The platform’s total trading volume now stands at $20.12 million for the last month. Cumulatively, all trades executed on ShibaSwap total a staggering $17.18 billion, surpassing renowned platforms like PancakeSwap and Hashflow. Such statistics highlight ShibaSwap’s escalating significance in the decentralized exchange arena.
Earlier reports pointed out that the total value locked (TVL) in ShibaSwap was approximately $2.97 million across 593 liquidity pools. However, today’s figures illustrate a drastic transformation. Currently, ShibaSwap boasts a TVL of $67.94 million, with a total of 1,097 liquidity pools. This represents an astonishing increase of 2,187% in capital locked, along with an 85% rise in the number of liquidity pools over just a month.
The overall outlook for the Shiba Inu ecosystem remains bullish, as reflected in the coin prices. In the last 24 hours, the main coin SHIB has risen by 14%, trading at $0.00001521. Similarly, Bone ShibaSwap (BONE) has increased by 15% to $0.4178, while Doge Killer (LEASH) saw a 5% bump to $173. This price momentum correlates with the widespread positivity surrounding the Shiba Inu project and suggests that ShibaSwap is reaping the benefits of this resurgence.
As ShibaSwap continues to evolve, the evident increase in trading volume, capital influx, and positive price trends reflect a promising outlook for the Shiba Inu ecosystem. Traders and investors might want to keep an eye on ShibaSwap as it solidifies its position in the decentralized finance landscape.
