mysterious whale has transferred its 3.37 trillion token stash in a single transaction that has piqued the SHIBArmy's interest due to its size. The transaction's origin is unknown.

The 3.37 trillion $SHIB stash has been migrated across a series of wallets over the last few months, all of which now have comparatively small balances, before ending up at its current address, according to data from the Ethereum blockchain.

The address where the tokens are held contains no ETH, implying that it is part of a larger wallet containing more tokens. It's unclear whether the funds correspond to a cryptocurrency exchange organizing its cold wallet storage or to an investor looking to secure their $40 million investment in the meme-inspired cryptocurrency.

According to CryptoGlobe, the average time in which users on the Nasdaq-listed cryptocurrency exchange Coinbase keep the meme-inspired cryptocurrency before selling it or moving it to an external address has now surpassed six months.

Investors on the platform now have an average hold time of 183 days, which is longer than the average hold time of other major cryptocurrencies such as Bitcoin ($BTC), Ethereum ($ETH), Cardano ($ADA), and Solana ($SOL).

Owners are likely HODLing their assets because, even after the project's founder left, developers and the community kept it running. New popular solutions are set to be released soon.

Shibarium is a layer-2 blockchain about which tokens could be transitioned for lower transaction fees. The Metaverse is a Shiba Inu-themed metaverse where users have already begun purchasing land.

Furthermore, developers are working on Shiba Eternity, a trading card game highly anticipated by the community. It had its first small glimpse at the gameplay after Kusama revealed the first successful launch for Vietnam players on iOS devices.

Sep 9, 2022
Crypto News

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