According to U.Today, a cryptocurrency wallet recently established has purchased several hundred billion SHIB meme coins. The transaction was conducted from an anonymous wallet, which could suggest an over-the-counter purchase or a whale distributing his cryptocurrency stash among smaller blockchain addresses. A total of 237,868,630,126 SHIB were transferred to the wallet in question. This quantity of meme cryptocurrency is valued at $6,290,435 at the time of writing. This acquisition occurred after the SHIB team announced that they had secured $12 million in investments for the development of a layer-3 solution on top of Shibarium.
The SHIB project lead, known by the alias Shytoshi Kusama, recently explained the reason for his frequent travels around the world. He has visited Japan, Hong Kong, Puerto Rico, and several cities in the U.S, including New York, as well as Hong Kong, Dubai, and the Maldives. The SHIB community tracked all these location changes on Kusama’s official Twitter handle, wondering what was happening. Kusama has now revealed that his travels were aimed at raising funds for the construction of the layer-3 blockchain. Shibarium is a layer-2 solution built on Ethereum, and the new blockchain will be based on Shibarium.
In a recent tweet, SHIB’s marketing lead, Lucie, outlined the benefits a layer-3 solution would bring to the SHIB community. She stated that adding a L3 layer on top of a L2 is akin to 'putting a cloak of invisibility over fast-moving transactions.' The layer-3 solution will feature enhanced privacy and security, fast and low-cost transactions, compliance to allow auditors to inspect even private transactions, and many other features. The much-awaited TREAT token, which has not yet been launched, will be used on this future blockchain to power its transactions, similar to how BONE is used on Shibarium now.