Shiba Inu (SHIB) has made headlines today with the announcement of an additional $12 million raised for the development of a new privacy blockchain. This funding was secured through the sale of tokens to crypto investors, specifically TREAT tokens, which will play a crucial role in the blockchain’s functionality.
The investment round for TREAT attracted a significant number of crypto enthusiasts, including prominent names like Comma 3 Ventures, Big Brain Holdings, and Animoca Brands. TREAT will serve as the native token for Shiba Inu’s privacy blockchain, which notably employs Fully Homomorphic Encryption (FHE). FHE represents a significant advancement in crypto security, as it enables the use of data on untrusted domains without decryption.
As of Tuesday morning, SHIB has experienced a modest increase of 0.47%. However, this gain is accompanied by a notable 28.7% decline in trading volume over the past 24 hours. It’s important to note that the crypto surged by 2.2% yesterday following the announcement of the funding.
In addition to this news, there are several other notable crypto updates that investors should be aware of. For comprehensive coverage of the crypto market, including insights on the recent Bitcoin halving, explore our collection of articles linked below:
7 Stocks to Buy Right After the April Bitcoin Halving
Halving Riches: The Top 3 Bitcoin Miners to Own in April
Millionaire-Makers: 3 Metaverse Cryptos Set to 20X by 2025
