SHIB’s Shibarium Public Beta Planned to Release in Q3 – Bitcoin News

The Shiba inu crypto community is awaiting the launch of its second layer (L2) scaling solution, Shibarium, after it was announced that the public beta will begin in Q3. According to Shiba inu developers Shytoshi Kusama and Ryoshi, the second-tier solution will reduce transaction fees significantly and possibly to zero.

Shiba Inu’s L2 Solution Shibarium Will Launch in Q3, Ethereum Whale Acquires 163.2 Billion SHIB

The meme token shiba inu (SHIB) has seen a 33.6% gain against the US dollar in the past seven days, with most of the increase centered around the Shibarium announcement. Also, a purchased ethereum whale 163.2 billion SHIB worth approximately $1.74 million over the last 24 hours using today’s SHIB exchange rates. There has been a lot of discussion about Shibarium, the L2 scaling solution, on the project’s Discord server. and

Also, the Unification Foundation, a team of developers behind Shibarium, released a few updates about the upcoming project. According to the Unification Foundation, Shibarium was launched in a private environment during the alpha testnet phase. The developers explained that the results were successful and that “the primary tool under heavy development is the wallet app.”

Maziar Sadri of the Merger Foundation added:

The Shibarium Public Beta Testnet is scheduled to go live in Q3 to coincide with the FUND Testnet upgrade, which includes the much anticipated IBC/Gravity/wFUND updates. The public Beta Testnet will allow parties to fully interact with the network, including the verification process.

Year-to-Date SHIB Increases 56% Against US Dollar

While SHIB is up 33.6% last week, it’s still 87.6% down from the token’s all-time high in October 2021. Despite this, the year-to-date SHIB token is still up 56% today. United states dollar. According to Into the Block statistics, around 23% of SHIB owners are making money at the current price at the time of this writing. SHIB has a large concentration of whales because Into the Block metrics show that the large scavenger concentration of SHIB is roughly 81%.

SHIB also has a burning strategy that aims to make crypto assets more scarce by allowing people to burn SHIB on the burning portal. While burning helps reduce the supply of SHIB, there are 589,390,205,650,282 SHIBs in circulation today. The Shiba inu has gained more than 33% in the last week, while it has rallied 10.1% in the last 24 hours.

Tags in this story

Burn Portal, Burn SHIB, ethereum whale, Into the Block data, Ryoshi, shib, SHIB whales, shiba inu, Shibarium, Shibarium launch, Shytoshi Kusama, Unification Foundation

What do you think of the upcoming Shibarium launch? Let us know what you think about it in the comments section below.

Jamie Redman

Jamie Redman is a News Editor at News and a financial technology journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for News about the disruptive protocols that emerged today.

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