The Shiba Inu team confirmed in an official statement on Tuesday, press release ETHToronto has announced its commitment to innovation and community engagement as it announces its return as a headline sponsor of the ETHToronto Conference. The event, scheduled to take place from August 13-14, 2024, is a highlight of the Blockchain Futurist conference and represents a major week in the crypto and blockchain industry in Canada.
Shiba Inu may deliver important news one day.
Last year, ETHToronto played a pivotal role in the Shiba Inu ecosystem by launching its layer 2 solution, Shibarium, on the Ethereum blockchain. The network has since reported over 400 million transactions and is approaching 4.5 million total blocks – a testament to its scalability and the robust activity it supports.
In a strategic move last month, Shiba Inu secured a $12 million venture capital investment to further enhance Shibarium. The funds were earmarked for infrastructure improvements, with a strong focus on developing security features and ensuring regulatory compliance. The initiative reflects Shiba Inu’s commitment to evolving into a fully independent blockchain and digital identity ecosystem.
Shiba Inu Project Lead Developer Chitoshi Kusama emphasized the importance of ETHToronto in strategically disseminating information. “ETHToronto has always been an important event for us when it comes to making news and setting the stage for our roadmap to becoming the ultimate decentralized hub,” Kusama noted.
He also noted that major announcements are expected at this year’s event, noting that major developments are expected. “We look forward to returning to ETHToronto as a headline sponsor and being very active during this year’s Crypto Week in Canada.”
The event is not only a venue for technology unveiling, but also serves as a strategic platform for Shiba Inu to promote and announce new partnerships. Recent collaborations have seen Shiba Inu venture into new areas, creating the .shib top-level domain service with D3. The SHIB team has also reached out to major players in the media and entertainment industry, including the Content Delivery & Security Association (CDSA).
It is worth noting that the Shiba Inu project team is also extending a special invitation to its community, offering preferential event tickets to the upcoming Canadian Crypto Week to encourage participation and direct interaction with the platform’s developments. To secure one of the limited spots, SHIB community members need to register on a special subdomain (/shibarmy).
At the time of publishing, SHIB price is trading at $0.00001909, facing crucial resistance at the 200-day exponential moving average (EMA). A daily close above this key indicator could signal a trend reversal for SHIB price.
Featured image by Shutterstock, chart by TradingView.com