After Bitcoin (BTC) surged to a high of $31,800 in mid-July, its highest level since May last year, it has since been consolidating between $28,500 and $30,000. There seems to be no catalyst to stir up the price. According to Coinglass data, Bitcoin's price volatility today is as low as 1.07%, a record low since 2016.
Layer2 OP price performance is outstanding
Although the prices of the two major currencies BTC and Ethereum have performed mediocrely, in terms of altcoins, the Ethereum Cancun upgrade expected to be carried out at the end of 2023 has quietly fermented the price of OP, the token of Ethereum's expansion solution Optimsim. In conjunction with the official launch of the mainnet of the Layer 2 blockchain network "Base" developed by Coinbase based on OP Stack, the ecological performance is outstanding. Base's TVL has even soared 83% in the past 7 days to nearly US$200 million.
Not only that, the one-stop DeFi wallet Debank also announced yesterday that it will build its own Debank Chain based on OP Stack, with the goal of becoming the social asset layer in the blockchain market. This has once again attracted market attention to Optimsim. The price of OP has been strong since July 10, and has risen by nearly 50% by August 8. It has fallen slightly before press time and is currently reported at US$1.56.
SHIB rose more than 30% in one week
In the past 24 hours, the trend of Shiba Inu coin SHIB has also attracted market attention. Recently, the anonymous main developer of Shiba Inu, Shytoshi Kusama, released a message in the official Telegram channel "Shibarium Tech", revealing that SHIB will have three new partnerships, and the community called this news "partnerSHIBs".
Although Kusama kept the community a secret and did not disclose which companies SHIB had established partnerships with, he said that one of the "partnershib" has already been signed, and another partner will focus on "technology and promoting great causes" and is expected to be announced at the end of August. As for the last partner, he only mentioned that it will "follow closely, which is worth celebrating."
Kusama also shared an "equation" with the SHIB community, stating that "SHIB > X". Although it is well known that Kusama does not like Musk because of Dogecoin, and this is not the first time he has publicly criticized him, at least the SHIB community has bought into the above-mentioned operation again, and the price has risen by more than 30% in the past week.
