Shibarium, a Tier-2 blockchain, has restarted withdrawals on the Ethereum bridge.
The dark clouds over Shiba (SHIB) and Shibarium began to pass. The Shibarium team is reopening withdrawals. Users will be able to withdraw their assets from Shibarium via the bridge that facilitates token transfer to the Ethereum network.
The popular blockchain Shibarium launched on August 16, but was soon discontinued as part of scaling efforts. After this move, there was a strong decline on the SHIB side.
Shibarium, recovering
Shibarium, which was discontinued shortly after launch due to scaling issues, is initiating withdrawals via the Ethereum bridge.
Shibarium had temporarily suspended the network for various reasons and blocked access to millions of dollars in user funds. The project team attributed the shutdown to an unusually large flow of transactions. It was stated to users that the network will be restarted and access to funds will be available. After this move from the Tier-2 network, there was a decrease of close to 15 percent on the SHIB side. A new announcement came 12 days after the network was suspended.
According to the official announcement from Shibarium, users will be able to make withdrawals for their various assets, including Ethereum, SHIB, Leash, and WETH. The team stated that the shooting process can take between 45 and 4 hours. In addition, withdrawals can be made for BONE, the native token of the network. However, this process can take up to 7 days.
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