Shiba Inu ( SHIB-USD) is making headlines today as cryptocurrency enthusiasts rejoice over the company securing an additional $12 million for a novel privacy blockchain project.

Instead of leveraging SHIB tokens, Shiba Inu opted to raise funds by selling its yet-to-be-released TREAT tokens to crypto investors. Notable participants in this investment round organized by SHIB include Comma 3 Ventures, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, and others.

TREAT serves as the designated token for Shiba Inu’s upcoming privacy blockchain initiative. The company emphasizes that this will be its final non-stable token and underscores the incorporation of Fully Homomorphic Encryption (FHE) in the blockchain’s operations.

The integration of FHE marks a significant advancement for SHIB, enhancing security measures for cryptocurrency traders by enabling data utilization in untrusted environments without the necessity of decryption.

Current Status of SHIB Crypto

As of Tuesday morning, SHIB has experienced a modest increase of about 0.47%. This marginal uptick coincides with a 28.7% decline in trading volume over the preceding 24-hour period. Notably, following the funding announcement, the cryptocurrency witnessed a 2.2% surge yesterday.

For more insights into the dynamic cryptocurrency landscape, traders are encouraged to explore the latest developments below!

Stay informed about the most recent market updates essential for investors on this Tuesday! Delve into the noteworthy occurrences post the Bitcoin( BTC-USD) halving and beyond by accessing the provided links!

Additional Cryptocurrency Updates for Tuesday

As of the publication date, William White has no direct or indirect holdings in the securities referenced in this article. The viewpoints expressed herein are solely those of the author and are subject to the InvestorPlace.com Publishing Guidelines.