237.8 Billion SHIB Grabbed by New Whale After Major Shiba Inu Development

According to data shared by Etherscan, over a day ago, a recently set up cryptocurrency wallet purchased several hundred billion SHIB meme coins.

Whale grabs 237.8 billion SHIB

The transaction was made from an anonymous wallet that may indicate an OTC purchase or a whale distributing his cryptocurrency stash between smaller blockchain addresses.

A whopping 237,868,630,126 SHIB were transferred to the aforementioned wallet in total. This amount of meme cryptocurrency is evaluated at $6,290,435 at the time of this writing.

The purchase took place after the SHIB team made a major announcement about securing $12 million in investments for developing a layer-3 solution on top of Shibarium. In the meantime, the SHIB lead has clarified what his recent multiple travels around the world were about.

Shytoshi Kusama explains his recent mysterious travels

In a recently published tweet, the SHIB project lead known under the alias Shytoshi Kusama suddenly shared the reason why he has changed his location on X/Twitter so many times earlier this year.

He has traveled to Japan, Hong Kong, Puerto Rico and several cities in the U.S, including New York, as well as Hong Kong, Dabai and the Maldives. The SHIB community traced all these location changes on Kusama’s official X/Twitter handle, pondering what was going on.

Now, Shytoshi announced that in his travels he chased a goal of raising funds for the layer-3 blockchain to be built. Shibarium is a layer-2 solution built on top of Ethereum, and the new blockchain will be based on Shibarium.

In a recent tweet, SHIB’s marketing lead, Lucie, explained what benefits a layer-3 solution would bring to the SHIB community. She stated that adding a L3 layer on a top a L2 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 let auditors check even private transactions and many other features. The much-anticipated TREAT token, which has not yet been released, will be used on this future blockchain to power its transactions, similarly to how BONE is utilized on Shibarium now.

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.