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Shortly after Shiba Inu announced securing $12 million for a new layer-3 blockchain project, a new whale acquired 237.8 billion SHIB, stirring the crypto community and fueling speculation about the coin's future.
Massive SHIB Transfer Follows Funding Milestone for Layer-3 Blockchain Development, Project Lead's Global Tour Revealed
According to Etherscan statistics, about a day ago, a newly created cryptocurrency wallet purchased several hundred billion SHIB meme coins.
The transaction was done from an anonymous wallet, which could imply an OTC purchase or a whale spreading his cryptocurrency horde to lesser blockchain addresses, as per U.Today.
A staggering 237,868,630,126 SHIB were transferred to the aforementioned wallet in total. This quantity of meme cryptocurrency is now valued at $6,290,435 at the time of writing.
The purchase occurred following the SHIB team's big announcement of securing $12 million in capital for creating a layer-3 solution on top of Shibarium. Meanwhile, the SHIB leader has defined the purpose of his recent international tour.
SHIB Lead Shytoshi Kusama's Global Tour Aims to Secure Funding for Upcoming Layer-3 Blockchain
In a recent tweet, the SHIB project lead, Shytoshi Kusama, revealed the reason for his frequent location changes on X/Twitter earlier this year.
He has visited Japan, Hong Kong, Puerto Rico, and various locations in the United States, including New York, Hong Kong, Dubai, and the Maldives. The SHIB community tracked Kusama's location changes on his official X/Twitter account, wondering what was happening.
Shytoshi has now declared that during his travels, he pursued the goal of obtaining funds for the development of the layer-3 blockchain. Shibarium is a layer-2 solution built on Ethereum and will serve as the foundation for the new blockchain.
SHIB's Layer-3 Upgrade Promises Enhanced Privacy and Speed, Introduces TREAT Token for Future Transactions
Lucie, SHIB's marketing lead, recently tweeted about the benefits of a layer-3 solution for the SHIB community. She explained that adding an L3 layer on top of an L2 layer is "like putting a cloak of invisibility over fast-moving transactions."
The layer-3 solution will include improved privacy and security ("Adding L3 is like putting a second lock on your door. It adds more security features, making everything safer," according to Lucie), fast and low-cost transactions, compliance to allow auditors to check even private transactions, and many other features.
The much-anticipated TREAT token, which has yet to be launched, will fuel transactions on this future blockchain, similar to how BONE is used on Shibarium today.
Photo: Microsoft Bing
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