{"id":149413,"date":"2023-08-28T08:12:07","date_gmt":"2023-08-28T08:12:07","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=149413"},"modified":"2023-08-28T11:14:05","modified_gmt":"2023-08-28T11:14:05","slug":"shiba-inu-shib-reopens-both-mainent-and-bridge-withdrawals-on-shibarium","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/shiba-inu-shib-reopens-both-mainent-and-bridge-withdrawals-on-shibarium\/","title":{"rendered":"Shiba Inu (SHIB) Reopens Both Mainnet and Bridge Withdrawals on Shibarium"},"content":{"rendered":"<p style=\"text-align: justify\"><strong>Shibarium, the Layer 2 blockchain developed by the <a href=\"https:\/\/crypto-economy.com\/what-is-shiba-inu\/\" target=\"_blank\" rel=\"noopener\">Shiba Inu (SHIB)<\/a> team, has just reopened fund withdrawals on its bridge to Ethereum (ETH)<\/strong> after a brief pause due to scaling-related issues. <!--more--><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">In an August 28\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/blog.shib.io\/shibariumupdatefinal\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">blog post<\/span><\/a><span data-preserver-spaces=\"true\">, Shiba Inu lead developer Shytoshi Kusama revealed the layer 2 scaling solution is now live and\u00a0<\/span><em><span data-preserver-spaces=\"true\">&#8220;ready for prime time&#8221;<\/span><\/em><span data-preserver-spaces=\"true\">\u00a0after reopening fund withdrawals, following a botched Shibarium launch on August 16, freezing access to millions of dollars in user funds.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"zxx\" dir=\"ltr\"><a href=\"https:\/\/t.co\/6hpCh5QU2h\" target=\"_blank\">https:\/\/t.co\/6hpCh5QU2h<\/a><\/p>\n<p>&mdash; Shytoshi Kusama\u2122 (@ShytoshiKusama) <a href=\"https:\/\/twitter.com\/ShytoshiKusama\/status\/1695987721179709734?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">August 28, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 style=\"text-align: left\">Shiba Inu Reveals Shibarium is Officially Live<\/h2>\n<p style=\"text-align: justify\">As per the announcement, <strong>users can now complete withdrawals for various assets, including Ether (ETH), Shiba Inu (SHIB) and Wrapped Ether (WETH), within a timeframe of 45 minutes to 4 hours.<\/strong> Withdrawals of the network\u2019s native Bone token are also available but may take up to 7 days to process<\/p>\n<p style=\"text-align: justify\">Furthermore, Kusama went on to disclose the layer had already gathered tremendous steam since its launch, <strong>amassing over 65,000 wallets and <span data-preserver-spaces=\"true\">processing\u00a0<\/span>350,000 transactions.<\/strong> He noted the platform has also seen a wide variety of tokens being deployed, ranging from <em>&#8220;fun, unusual, to sometimes offensive.&#8221;<\/em><\/p>\n<p style=\"text-align: justify\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-149421 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2023\/08\/Shiba-Inu-3-e1693209664785.jpg\" alt=\"Shiba Inu Reveals Shibarium is Officially Live\" width=\"825\" height=\"331\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/08\/Shiba-Inu-3-e1693209664785.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/08\/Shiba-Inu-3-e1693209664785-300x120.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/08\/Shiba-Inu-3-e1693209664785-768x308.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">In addition, the Shiba Inu exec also took the opportunity to thank the Polygon (MATIC) team, stating Sandeep Nailwal, the Co-Founder of the Polygon network, has been of immense help after the Shiba Inu team had temporarily suspended both the mainnet and the bridge recently, citing scalability issues. Kusama added the pivot-to-fork Polygon was the\u00a0<\/span><em><span data-preserver-spaces=\"true\">&#8220;correct one.&#8221;<\/span><\/em><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Kusama also thanked several others who helped bring Shibarium to fruition, recognizing their hard work and showing appreciation for their efforts, stating, &#8220;<\/span><em><span data-preserver-spaces=\"true\">a final thank you to everyone who fought the fud and ignored the misinformation posted on multiple news sites recklessly.&#8221;<\/span><\/em><\/p>\n<h2 style=\"text-align: left\">No Immediate SHIB Price Action<\/h2>\n<p style=\"text-align: justify\">Although most expected SHIB\u2019s price to surge after the Shibarium launch, the opposite turned out to be true. <strong>The memecoin has been witnessing multiple price corrections over the past few weeks.<\/strong> According to <a href=\"https:\/\/coinmarketcap.com\/currencies\/shiba-inu\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap<\/a>, SHIB is down 2.11% in the last 24 hours to trade at $0.000007. Meanwhile, the dog-themed cryptocurrency has tanked more than 4% over the past seven days.<\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">Despite the lackluster performance, the SHIB team has increasingly ramped up efforts in an effort to bolster the Shiba Inu ecosystem.<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0On June 21, Kusama unveiled a brand new project called &#8220;<\/span><em><span data-preserver-spaces=\"true\">Shibacals,&#8221;<\/span><\/em><span data-preserver-spaces=\"true\">\u00a0which aims to bridge the gap between non-fungible tokens (NFT) and real-world items.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Shibarium Zoomed Out, .<a href=\"https:\/\/twitter.com\/shibacals?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@shibacals<\/a> Authenticated Collectibles, Shiba on Champion Garments(!), and the upcoming Worldpaper. Time for an update <a href=\"https:\/\/twitter.com\/hashtag\/SHIBARMY?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#SHIBARMY<\/a>&#8230; <a href=\"https:\/\/t.co\/QpFtVxCl3x\" target=\"_blank\">https:\/\/t.co\/QpFtVxCl3x<\/a><\/p>\n<p>&mdash; Shytoshi Kusama\u2122 (@ShytoshiKusama) <a href=\"https:\/\/twitter.com\/ShytoshiKusama\/status\/1671582813634666498?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">June 21, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">Moreover, recently, <strong>cryptocurrency giant Binance added 22 new loanable and collateral assets to its Flexible Loan and VIP Loan service <a href=\"https:\/\/crypto-economy.com\/binance-adds-22-cryptocurrencies-as-collateral-assets-including-shiba-inu-shib\/\" target=\"_blank\" rel=\"noopener\">including<\/a> Shiba Inu (SHIB). <\/strong>Following the announcement, the crypto community was also anticipating the potential listing of Bone ShibaSwap (BONE) tokens on Binance after major crypto exchanges such as OKX and Huobi listed the token amidst a rise in development and social activity related to the Shibarium Layer-2 blockchain and the Shiba Inu ecosystem.<span id=\"more-147936\"><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shibarium, the Layer 2 blockchain developed by the Shiba Inu (SHIB) team, has just reopened fund withdrawals on its bridge to Ethereum (ETH) after a brief pause due to scaling-related issues.<\/p>\n","protected":false},"author":21,"featured_media":149424,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[115,70,74],"tags":[5485,9785],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/149413"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=149413"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/149413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/149424"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=149413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=149413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=149413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}