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The Shiba Inu team recently raised $12 Million from well-known venture capitalists (VCs) like Polygon Ventures, Animoca Brands, Morningstar Ventures, and Cypher Capital. This funding is to be directed towards expanding the Shiba Inu (SHIB) ecosystem, a move that could positively affect the meme coin’s price.
While Shiba Inu (SHIB) has the potential to rise on the back of this development, crypto investors are hesitant about investing in the meme coin because of how little these price gains might be. Instead, they have chosen to double down on their investment in the ETFSwap (ETFS) token, which could provide more massive returns on their investment.
Shiba Inu’s Upcoming Project
The $12 Million raised through the sale of the TREAT tokens will be used to develop the privacy-focused layer-3 blockchain on the Shibarium network. Thanks to the team’s collaboration with open-source cryptography firm Zama, this blockchain will feature fully homomorphic encryption (FHE).
According to the TREAT token’s official X (formerly Twitter) platform, FHE “allows computations on encrypted data, offering unprecedented security and privacy—ensuring your data stays private, always.” This groundbreaking technology is expected to address the privacy concerns of Web3 natives.
Meanwhile, it is worth mentioning that the TREAT token is the native token of the proposed layer-3 blockchain and will power its ecosystem. This development is undoubtedly a major milestone for the Shiba Inu (SHIB) ecosystem, which started as just a meme coin. Shiba Inu’s lead developer, Shytoshi Kusama, also acknowledged how this move will elevate the Shiba Inu (SHIB) brand.
How TREAT Is Important To SHIB
In an X post, Shiba Inu’s Marketing Lead, Lucie, highlighted how important TREAT’s launch will be for Shiba Inu (SHIB). Besides being the native token of the layer-3 blockchain, she noted that TREAT will also serve as a reward token in the Shiba Inu (SHIB) ecosystem. Users who stake their Shiba Inu (SHIB) tokens will “earn free TREAT tokens,” she claimed.
Lucie added that Shiba Inu (SHIB) and TREAT will work “hand in hand to enhance the overall ecosystem.” Although she didn’t mention it, TREAT’s launch is a bullish development that could cause Shiba Inu (SHIB) to record some price gains. The meme coin’s price rose yesterday following news of the $12 Million funding.
However, it remains unlikely that TREAT’s launch can spark that kind of run, which will help Shiba Inu (SHIB) investors record gigantic returns on their investments. In fact, it is worth noting that Shiba Inu (SHIB) already lost the gains it made yesterday. Data from CoinMarketCap shows that the meme coin, currently trading at around $0.0000265, is down over 2% in the last 24 hours.
ETFSwap (ETFS) Potential Cannot Be Ignored
As a new token, ETFSwap (ETFS) has shown enough bullish momentum to make the kind of run that will provide investors with the insane returns they desire. Commenting on ETFSwap’s (ETFS) potential, a crypto expert described the crypto token as a hybrid of a utility token featuring meme coins’ potential to rally hard.
This expert meant that ETFSwap (ETFS) could record those 30,000% price gains usually attributed to meme coins while it can sustain these price gains thanks to the utility it provides to its holders. One such utility is that it provides access to ETSwap, a decentralized finance (DeFi) platform that offers users a variety of exchange-traded funds (ETFs) to invest in on-chain.
By enabling on-chain ETF trading, users will be able to invest in these traditional assets from anywhere and anytime. The platform and its native token ETFS are already attracting a lot of attention as they are projected to be the next big thing in the crypto space.
Interestingly, the platform has also caught the attention of its competitors in the traditional finance (TradFi) space, with Wall Street investors already considering a 24-hour service to keep up with ETFSwap (ETFS).
While they may be able to achieve this, they can’t provide the attractive yields that ETFSwap (ETFS) stakers are set to enjoy. Token holders will also make passive income from the revenue-sharing program implemented by the DeFi platform.
Given such potential, crypto investors have been rushing to accumulate the ETFSwap (ETFS) token in the ongoing stage 1 of the presale, with one whale in particular buying over $500,000 worth of ETFSwap (ETFS). Currently selling at $0.00854, the crypto token is still greatly undervalued, and there is no better time to find an entry than now.
For More Information About The ETFS Presale:
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Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
