The Shibarium crypto community is expecting the launch of Shibarium, a layer 2 (L2) scaling solution, after it was revealed that the public beta will launch in the third quarter. According to Shibarium developers Shytoshi Kusama and Ryoshi, the Layer 2 solution could significantly lower transaction fees, possibly to zero.
Shibarium, Shibanu’s L2 solution, launches in Q3; Ethereum Whale acquires 163.2 billion yen SHIB
Meme tokenShibanu (SHIB)has gained 33.6% against the USD over the past 7 days. gains, with much of the increase related to Shibarium’s announcement. Additionally, the Ethereum whale has purchased163.2 billion SHIBworth approximately $1.74 million over the past 24 hours using today’s SHIB exchange rate. There has been much discussion on the project’s Discord server about the L2 scaling solution Shibarium.
Additionally, the Unification Foundation, Shibarium’s developer team, has revealed some updates on the upcoming project: according to the Unification Foundation, Shibarium is launched in a private environment during the alpha testnet phase. The developer explained that the results were successful and that “the primary tool under heavy development is a wallet application.”
The Unification Foundation’sMaziar Sadrifurther added:
The Shibarium Public Beta Testnet is expected to roll out in Q3, concurrent with the FUND Testnet upgrade, including the much-anticipated IBC/Gravity/wFUND update. The Public Beta Testnet will allow full interaction with the network, including the validation process.
up 56% against the USD
while the SHIBhas gained 33.6% during the past week, but is still down 87.6% from the all-time high the token hit in October 2021. Despite this, since the beginning of the year, SHIB tokens are still up 56% against the US dollar today. As of this writing, according to Into the Blockstatistics, about 23% of SHIB holders are making money at current prices. In addition, Into the Block statistics show that SHIBs have a high concentration of whales with about 81% of large holders.
SHIB also has a burn strategy aimed at increasing the scarcity of crypto assets by burning SHIBs in its burn portal. While burning helps reduce the supply of SHIBs, there are 589,390,205,650,282 SHIBs in circulation today. SHIBs have increased over 33% during the past week, while 10.1% were collected during the last 24 hours.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial feature photo credit: Dennis Diatel
