Market left in shock after an Ethereum whale moved billions in Shiba Inu worth a staggering $2.6 million, for a transaction fee of only $2.
Shytoshi Kusama makes a key statement regarding the recent launch of the bate version of the holy anticipated Shibarium upgrade.
An Ethereum whale have reportedly moved a significant amount of Shiba Inu (SHIB), following the launch of Shibarium beta. According to data from the blockchain-tracker service Etherscan, a crypto whale has left the entire market in shock after moving billions in Shiba Inu.
According to Etherscan, the whale transferred a whopping 258,837,671,569 SHIB to Shiba Inu’s smart contract. The funds can either be burned or utilized for the network’s ongoing projects. The Shiba Inu tokens moved were worth over $2.64 million as at when the transaction was carried out.
Notably, the transaction, despite being a staggering sim, only cost the whale around $2 in fees, to successfully process the transfer. It is also worth noting that the whale in question still has an even larger amount of Shiba Inu tokens in its possession. The transfer has left no holes in the whale’s account, as the whale still reportedly holds a mouth-watering 4,925,361,871,313 Shiba Inu, which is worth more than $50.23 at report time. Shib is up 2.54% at this time, with prices sitting at $0.00001053.
The whale account also holds $11.97 million worth of Polygon (MATIC), $5.55 million worth of Chainlink (LINK), $2.17 million worth of AAVE (AAVE), and $2.63 worth of Compound (COMP).
The beta version of the Shibarium layer-2 scaling solution is live, here’s what to know
Meanwhile, the Shiba Inu community is still in celebratory mode, after the network successfully launched the beta version of the highly anticipated layer-2 scaling solution Shibarium. Shytoshi Kusama, the lead shiba inu developer revealed that the testnet is now available to beta testers for use.
“…today we begin the EARLY Beta Test of the Shibarium Network which we call PUPPYNET! As we’ve mentioned many times, Shibarium is a layer 2 blockchain that allows anyone to build DAPPS, integrate into IRL businesses, and power projects with it. It is low cost, burns Shib in the process, and is being adjusted as the beta test continues over the next few months.” Kusama noted in a recent blogpost.
In a recent blogpost detailing the entirety of the launch, and everything developers and users need to look out for, Kusama stated that Shib burns will on tokens in the network. Developers will be able to see the amount of burnt Shib in a running chart on a burn portal.
He also warned that all Puppynets are not real and that users should not spend their Shib tokens on them despite intense shilling from other market players. He goes on to emphasize the importance of doing your own research (DYOR) to avoid falling for scams.
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