Trading activity on Shibarium-based decentralized exchanges (DEX) is showing signs of recovery after daily volume increased by more than 1,500% in 24 hours.
According to data from DeFiLlama, Shibarium’s DEX trading volume jumped 1,517%, from just $17 on July 9 to $275 on July 10. Notably, Shiba Inu’s native decentralized exchange, ShibaSwap, accounted for all of $275 in trading volume.
While this figure remains insignificant compared to competing blockchain ecosystems that process tens of millions of dollars in daily DEX volume, the increase represents a notable improvement over Shibarium’s recent performance.
Trading volume recovers after weeks of inactivity
The latest spike follows a prolonged period of minimal trading activity on the network.
Notably, Shibarium saw no DEX trading volume from June 23 to the end of the month. Activity resumed in early July, but only $3 worth of trades were executed. Trading volume then spiked to $17 on July 9 before climbing to $275 the next day, representing a 1,517% day-over-day increase.
Even though trading activity remains modest in absolute terms, the latest figures suggest that liquidity is gradually returning to the Shibarium ecosystem.
Shibarium TVL and Transactions Skyrocket
Meanwhile, Shibarium’s decentralized finance (DeFi) ecosystem has also grown in recent weeks. At press time, the network’s total value locked (TVL) stood at $24,014, representing an 11.71% increase from its June 27 level.
Additionally, TVL increased by 1.50% in the last 24 hours, indicating continued growth in assets deposited via Shibarium-based protocols. Beyond decentralized exchange activity, overall network usage has also strengthened.
Data from Shibariumscan shows that daily transactions, which had remained below 2,000 since July 5, jumped to 5,170 on July 10. This represents a 361% increase from the 1,120 transactions recorded on July 9.
Despite the recent downturn, Shibarium has continued to transact significant on-chain business throughout its lifespan. The network has now recorded over 1.56 billion total transactions across approximately 18.06 million blocks.
The simultaneous increase in DEX trading volume, TVL, and daily transactions suggests that activity in the Shibarium ecosystem is gradually recovering after a prolonged period of low on-chain engagement.
