Whales have no intention of stopping. In a recent report by Whalestats, a crypto whale with 5 trillion Shiba Inu just expanded its holdings with the latest purchase. The whale, which is ranked 30th out of the top 1,000 ETH wallets, acquired 2,810,227 POLY, worth an eye-watering $1,170,285.
Polymath (POLY) is ranked 143rd on CoinMarketCap, with a current market capitalization of $364,023,608. POLY is currently trading at $0.405123, up 0.23 percent over the previous 24 hours. There are 898,550,830 POLY coins in circulation, with a 24-hour trading volume of $66,291,815.
Although its recent purchase is huge, it is clearly dwarfed by the wallet’s Shiba Inu holdings, which has a total of 5 trillion SHIB tokens worth an incredible $94,180,784.
POLY’s trouble no more?
While Poly network and its token have not been in the limelight in a while, it made serious headlines in Q3 2021. Last August, the ecosystem was struck by a major attack and the hackers were able to steal more than $600 million worth of tokens. It was a peculiar incident because the attacker ended up returning all the funds to the network. Interestingly, a week later, Poly Network ended up offering a job to the same hacked, named “Mr. White Hate”, as their Chief Security Advisor.
Shiba Inu’s Recent Developments
Shiba Inu has been on a roll in the recent past. It had its first major real-life utility when it entered into a partnership with Welly’s, a fast-food joint. The tagline for the fast-food joint now is “I am Ryoshi. We eat well”. The first store opened in Naples, Italy.
SHIB and Welly’s have teamed up to create a new hyper-agile blockchain-based fast-food business. Customers can not only purchase food, but they can also ‘burn’ SHIB with their purchases, according to the team. The burning mechanism will be implemented soon, and further information will be available in due time.