Shiba Inu Rolls Out Layer 2 Blockchain, Big Market Caps Slide

Written by BTSE

August 17, 2023

Shiba Inu Rolls Out Layer 2 Blockchain, Big Market Caps Slide

Trending Tokens on BTSE:

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(as of 10:00 AM Singapore Time, August 17, 2023) 


As the sun rose over Asia this morning, traders woke up to slides in price almost across the board – crypto market giants Bitcoin (BTC) and Ethereum (ETH) slid 2.24% and 1.82% respectively. Ethereum broke below the $1.8K mark, just touching $1,797 at the time of writing – a place it has not seen since June this year. Similarly, Bitcoin’s retreat to $28.5K is a price that the token has not seen in some time, last reaching this price in June. 

Despite the price drops, however, the industry enjoyed some positive news overnight. Traders and analysts alike might be particularly accustomed to hearing bad crypto news from US regulators – however, overnight, the US SEC approved crypto exchange Coinbase’s futures trading platform for eligible US customers. This news might be surprising given the agency’s consecutive anti-crypto moves, and does raise hopes for crypto projects considering entering the country in the future. 

Meanwhile, former US president Donald Trump has continued to make news in the crypto space with his crypto holdings. Originally thought to be holding approximately $200,000 in Ethereum, further documents submitted overnight have shown Trump to be holding as much as $2.8 million in cryptocurrency, primarily Ethereum.

In other news, Shiba Inu’s Layer 2 Ethereum blockchain has gone live, in an all-new DeFi push for the token. In the leadup to the launch, over 21 million wallets were created in its testnet phase, making it a very exciting development for those interested in the space. The main focuses for the up-and-coming ecosystem are financial services and gaming, and is expected to attract users with low fees. 


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