Wednesday, February 1, 2023
HomeCrypto NewsShiba Inu Layer 2 Network to Link with Ethereum Via Shibarium Bridge...

Shiba Inu Layer 2 Network to Link with Ethereum Via Shibarium Bridge Launch

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According to SHIB Knight, the Shibarium team is creating a bridge that will enable users to transfer assets from Ethereum to Shibarium.

Shiba Inu’s layer-2 network, Shibarium, aims to be more useful thanks to a new meme-based crypto project that has been revealed by the prominent crypto influencer SHIB Knight.

Shiba Inu L2 network will be connected to Ethereum via a Shibarium bridge, according to a tweet shared today by SHIB Knight, who is part of the Kai Ken Inu team, a community-focused project.

When the L2 network launches, SHIB Knight asserts that users will be able to “port assets” directly from the Ethereum blockchain to Shibarium using the solution.

“[Kai Ken Inu is] building a Shibarium bridge, which will allow holders to port assets from [Ethereum] to Shibarium when it launches,” SHIB Knight made this comment in a tweet.

Read article: Shiba Inu Rank 12th Over Crypto Projects  as Shibarium Draws Near

KAIK Value Spikes 1000x Since Launch

Members of the SHIB community appeared enthusiastic about the planned initiative, despite the Shiba Inu team’s lack of confirmation of the news. The excitement has led to the widespread embrace of the native token of Kai Ken Inu (KAIK).

According to SHIB Knight, KAIK has increased by over 1000x since the cryptocurrency’s launch. Furthermore, the well-known Shiba Inu influencer reported that Kai Ken Inu’s market cap increased yesterday from $2 million to a staggering $10 million.

“KAIK is already 1000x up from launch. [It] ran to a $10M [market cap] yesterday from $2M [market cap], with a healthy and bullish chart,” SHIB Knight stated.

Read also: After Shibarium Launch, People will Start Building Immediately, Says Kusama

The Kai Ken Inu team tweeted this week to announce the huge increase in the value of its coin. Kai Ken Inu expressed gratitude to members of the cryptocurrency community, particularly SHIBArmy, for aiding with the company’s $10 million market cap. Furthermore, it promised KAIK holders that the achievement was just the beginning of bigger things to come because it planned to “shake the crypto space to its core.”

However, the value of KAIK has substantially decreased; as of the most recent data from cryptocurrency aggregator Live Coin Watch, KAIK has a $4.42 million market value. With a loss of 38.33% over the last 24 hours, the token is currently trading at about $0.00000497.
The Shiba Inu team has not yet made public the precise launch date for Shibarium. The team has, however, released a number of updates that indicate the L2 network will soon be released. Earlier this month, Shiba Inu posted a blog explaining some basics about Layer-2 blockchain and stated that Shibarium Beta is “about to launch.”

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