Etherscan’s data indicates that a newly created cryptocurrency wallet bought many hundred billion SHIB meme coins more than a day ago.
Whale grabs 237.8 billion SHIB
The fact that the transaction was performed via an anonymous wallet might mean that it was an over-the-counter buy or that a whale was dividing up his bitcoin holdings across lesser blockchain addresses.
The entire amount of SHIB sent to the aforementioned wallet was an astounding 237,868,630,126. As of this writing, the valuation of meme cryptocurrency is $6,290,435 dollars.
Following a significant statement from the SHIB team on the acquisition of $12 million in funding for the development of a layer-3 solution atop Shibarium, the purchase was made. Meanwhile, the SHIB chief has explained the purpose of his recent round-the-world trips.
Shytoshi Kusama explains his recent mysterious travels
The SHIB project lead, also known as Shytoshi Kusama, unexpectedly revealed the reason behind his frequent location changes on X/Twitter earlier this year in a recently released tweet.
He has visited the Maldives, Hong Kong, Dabai, Japan, Puerto Rico, and a number of American locations, including New York. The SHIB community wondered why Kusama’s official X/Twitter handle showed so many geographical changes, so they tracked them down.
Shytoshi has now declared that he pursued the objective of obtaining money to build the layer-3 blockchain during his trips. The new blockchain will be built on Shibarium, a layer-2 solution that was developed on top of Ethereum.
https://x.com/ShytoshiKusama/status/1782579735924720071
Lucie, the marketing lead for SHIB, recently tweeted outlining the advantages a layer-3 solution would provide for the SHIB community. According to her, it’s “like putting a cloak of invisibility over fast-moving transactions” to add an L3 layer on top of an L2.
Improved security and privacy are features of the layer-3 solution. Adding L3 is similar to adding a second lock to your door. According to Lucie, it makes things safer by adding additional security elements. It also has many other characteristics, such as quick and inexpensive transactions, compliance that allows auditors to see even private transactions. Similar to how BONE is now used on Shibarium, the highly anticipated TREAT token, which has not yet been published, will fuel transactions on this future blockchain.
