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Shibarium Breaks The Internet (Again) With Over 400 Million Layer-2 Transactions

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Shibarium, the Layer-2 blockchain developed by the creative minds behind Shiba Inu (SHIB), has shattered expectations by reaching an extraordinary milestone in transaction throughput. Surpassing an impressive 411 million transactions,   Shibariumscan has revealed the platform’s resilience in the face of market volatility.

The recent surge in user adoption and the influx of dApp builders have contributed to Shibarium’s exponential growth. Over the past few days alone, more than 3 million transfers have been added, solidifying Shibarium’s position as a force to be reckoned with in the blockchain space.

This achievement is particularly impressive given the current daily transaction throughput of 1.03 million, which, although lower than its peak of 4.2 million transfers per day on February 20, reflects the platform’s stability and potential for further expansion.

Source: Shibariumscan

Shibarium Forges Strategic Partnership, Expanding Its Ecosystem

In a move to fortify its ecosystem and foster innovation, Shibarium has recently formed a strategic partnership with K9 Finance, a prominent player in the financial technology industry.

This collaboration marks a significant milestone for both parties, as K9 Finance launches its native coin, KNINE, on the Shibarium platform. As a testament to their commitment, Shytoshi Kusama, the visionary leader behind SHIB, and Kaal Dhairya, the brilliant SHIB lead developer, have been appointed as official advisors to K9 Finance.

The partnership between Shibarium and K9 Finance showcases the platform’s dedication to fostering collaborations that drive growth and fuel its mission to revolutionize the blockchain landscape. This strategic alliance will undoubtedly open doors to new possibilities, leading to enhanced user experiences and the creation of innovative decentralized applications.

SHIB Navigates Challenging Waters Amidst Market Turbulence

While Shibarium celebrates its record-breaking achievements, the price of Shiba Inu (SHIB), the second-largest meme cryptocurrency by market capitalization, has experienced a turbulent ride in recent days.

Exhibiting a correlation with the price movements of Bitcoin (BTC), SHIB has encountered a 28% decrease in value following Bitcoin’s correction from its all-time high of $73,750.

Total crypto market cap. Chart: TradingView

Investors may find these price fluctuations discouraging, but it is crucial to consider the broader context of SHIB’s ongoing development efforts. Notably, SHIB received recognition and was featured on Forbes’ prestigious top 10 list of cryptocurrencies to invest in.

SHIB price action in the last 30 days. Source: Coingecko

Additionally, the cryptocurrency garnered attention on the popular financial program “Eye on Your Money,” where it was mentioned alongside Bitcoin. While these accolades did not result in immediate price surges, they reinforce SHIB’s potential and the significance of its long-term growth prospects.

Featured image from Pixabay, chart from TradingView





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Blockchain

Trump Administration Push for Blockchain-Powered USAID Overhaul—Here’s What Could Change

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A newly surfaced proposal concerning blockchain is now circulating within the US State Department hinting at a potential shift in how the United States Agency for International Development (USAID) operates.

Under a set of recommendations backed by Trump administration officials and linked to the Elon Musk-led DOGE government efficiency unit, the agency may begin utilizing blockchain technology to enhance transparency and security in foreign aid disbursement.

Adopting Blockchain in Foreign Aid Reform

According to a draft document obtained by Politico, blockchain integration is being considered as part of a broader effort to modernize and restructure USAID’s procurement processes.

The proposal outlines that all aid distributions could be tracked using blockchain to “ensure accountability,” “reduce inefficiencies,” and allow implementing partners “greater flexibility.”

Although the proposal doesn’t clarify whether a public, private, or hybrid blockchain system would be used, it emphasizes the benefits of “secure and traceable” fund flows for international aid programs.

Meanwhile, USAID, the US agency responsible for administering foreign development assistance, has faced criticism in recent years over perceived inefficiencies and spending priorities.

The proposal aligns with ongoing efforts from the Trump camp to realign foreign aid programs with national strategic interests. It describes current aid structures as too “expansive and disorganized,” urging a shift toward focused initiatives tied to measurable outcomes in regions critical to US interests. The document wrote:

A better approach would be to foster peace and stability in regions critical to U.S. interests, catalyze economic opportunities that support American businesses and consumers, and mitigate global threats such as pandemic diseases.

Potential Restructuring and Strategic Realignment

Alongside blockchain adoption, the document proposes renaming USAID to the “U.S. Agency for International Humanitarian Assistance (IHA)” and moving the agency under the direct control of the State Department.

Areas of focus would include global health, food security, and disaster response, with an emphasis on reducing politically oriented programs and streamlining operations.

The recommendations follow past efforts by the Trump administration to limit USAID funding and staff, moves that were met with legal pushback and public criticism.

While the document reflects a serious policy proposal, it does not yet represent formal government action. The proposal acknowledges that some aspects would require congressional approval and legislative changes.

It is also unclear whether Secretary of State Marco Rubio or other senior officials within the current administration have reviewed or approved the recommendations.

Still, the introduction of blockchain as a transparency mechanism signals a growing interest in applying emerging technologies to government operations—an area of focus that may continue regardless of future political leadership.

The global crypto market cap value on the TradingView amid US potential blockchain powered USAID
The global digital currency market cap value on the 1-day chart. Source: TradingView.com

Featured image created with DALL-E, Chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Ethena Labs and Securitize to launch Converge, a new blockchain for DeFi

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  • Ethena Labs and Securitize are joining forces to launch Converge, a new blockchain for decentralized finance and tokenized assets.
  • Converge will be Ethereum Virtual Machine-compatible and serve both retail and institutional DeFi.
  • ENA price rose 5% to change hands above $0.38 following the announcement

Ethena Labs and Securitize are teaming up on a venture that will see the crypto projects unveil Converge, a new blockchain built for tokenized assets and decentralized finance.

Announced on Mar. 17, Converge will be a custom-built, Ethereum-compatible blockchain. The developers envision a platform that will cater to both everyday investors and deep-pocketed institutional players.

Per a blog post introducing the new blockchain, the anticipated launch date is Q2 2025.

Ethena, Securitize unveil Converge

According to Ethena Labs, Converge is a blockchain platform designed to bridge the gap between traditional finance and DeFi.

The technology behind the EVM-compatible chain will allow users to leverage user-friendly decentralized applications for retail investors. Converge will also offer a suite of top tools aimed at institutional investors.

Both Ethena Labs and Securitize plan to tap into the new blockchain to advance the DeFi and asset tokenization ecosystem. In this case, the partnership will see Ethena bring its burgeoning DeFi to Converge.

Securitize will also revamp its traction in the real-world asset (RWA) tokenization space. With nearly $2 billion minted, Securitize stands out as one of the top platforms championing the growth of tokenized assets.

Converge’s unveiling will bring an EVM-compatible settlement layer, driving new adoption for stablecoins and tokenized assets.

“We’re developing Converge to fill a clear gap in the market as the go-to settlement layer for institutional-grade DeFi and tokenized assets,” Guy Young, founder of Ethena Labs, said in a statement.

According to Young, “storage and settlement of stablecoins and tokenized assets” is set to be a massive opportunity in the coming years.

Stablecoins, blockchains and exchanges are a “holy trinity of crypto protocols” the Ethena Labs founder posted on X.

Further comments came from Carlos Domingo, the co-founder and CEO of Securitize. He noted:

“By combining Ethena’s innovation in DeFi with Securitize’s leadership in tokenizing real-world assets, Converge sets a new standard for how institutions can confidently engage with on-chain financial markets.”

Converge’s initial launch partners

The two firms will look to advance Converge via key industry collaborations. Helping the cause are initial launch partners, including Pendle, Aave Labs (via its Horizon project), Morpho, Ethereal and Maple Finance.

Converge’s RWA traction will also benefit from custodial support from Anchorage, Copper, Fireblocks and Zodia among other institutional-grade custody providers.

Also key will be interoperability partners LayerZero and Wormhole. Meanwhile, Converge will tap into oracle support from Pyth Network and RedStone.

Furthermore, Converge will use Ethena’s native governance token ENA for staking and security. The latter will tap into a permissioned validator set. The USDe and USTb stablecoins will power network transactions as gas tokens.

The news saw the ENA token jump more than 5% to trade above $0.38.





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Reddit’s Cofounder Ohanian Makes Bid For TikTok, Intends To Bring It Onchain

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Reddit’s cofounder Alexis Ohanian is keen on acquiring Chinese social media platform TikTok with plans to bring it on-chain. While details of his plan are sparse, Ohanian seeks to use Web 3 to change the concept of social media ownership.

Bringing TikTok Onchain Will Change The Landscape For Creators, Says Reddit Co-founder

Ohanian has formally thrown his hat in the ring to acquire TikTok, joining a laundry list of individuals angling to purchase the social media platform. The Reddit cofounder joins Frank McCourt’s bid for TikTok, serving as a strategic adviser for Project Liberty.

“I’m officially now one of the people trying to buy TikTok US – and bring it on-chain,” wrote the Reddit cofounder.

Ohanian confirmed his interest via X (formerly Twitter) that he is keen on bringing TikTok on-chain after the purchase. For the serial entrepreneur, integrating Web 3 offerings into the app will change the concept of ownership on the embattled platform.

Without disclosing details, it appears that the users of the Ohanian-led TikTok will own their data while creators will own their audience

“We’re setting a new standard for what’s possible in digital communities,” said Ohanian. “A TikTok for the people, by the people. Let’s see if we can pull this off.”

How Will An On-chain TikTok Look Like?

Apart from changing the landscape for ownership, Ohanian’s post did not offer key details about TikTok’s future. However, pundits say the platform could feature on-chain monetization via micropayments in cryptocurrencies. Particularly, one of the assets tapped for the Crypto Strategic Reserve is expected to fill the role.

Another potential perk includes the integration of non-fungible tokens (NFTs) akin to Reddit’s experimentation with digital collectibles.

It is unclear which blockchain Ohanian will lean on in the push to bring TikTok on-chain. There are whispers of centralized Layer 2 blockchains but Reddit’s botched attempt could see a preference for Layer 1 chains.

However, Ohanian and Project Liberty members will have to achieve regulatory compliance in the quest to bring TikTok on-chain. Although the SEC is dismissing crypto lawsuits against exchanges, Ohanian has to proceed with caution.

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Aliyu Pokima

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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