Bitcoin continues to trade around $21,000, Ethereum and altcoins remain steady, while the shiba inu gets a boost as it prepares to launch layer-2.
Shiba Inu and BONE led the gains after the Shiba Inu ecosystem announced layer-2. US markets are closed to celebrate Martin Luther King Jr Day.
Bitcoin was trading at $21,036 as of 9 a.m. local time, down 1.8% from the last 24 hours, according to TradingView data. The leading cryptocurrency by market capitalization was trading above $21,400 late Monday but fell below it overnight.
According to The Block data, the vibrant market over the past week has seen the total global crypto market cap rebound above the $1 trillion mark.
Ether continues to trade above $1,500, down about 1.7% over the past 24 hours. Binance’s BNB is relatively stable as it hovers near $300, Ripple’s XRP is down 3.4%, and Cardano’s ADA is down 4% over the past 24 hours.
Shiba Inu has increased by 21% in the past seven days after claiming that developers are prepare release layer-2 for the Shiba Inu ecosystem, called Shibarium, in beta form. Ethereum-based on-chain transactions will be paid for using BONE, the governance token of the Shiba DAO.
Tokens BONE will be used to reward validators and authorizers on the network, and 20 million currently worth of $27 million has been reserved for payments. The developers say the system will improve the utility of BONE.
US markets are closed to celebrate Martin Luther King Jr Day. This week, traders will have to keep an eye on FOMC members as no less than 10 members of the policy committee are expected to speak at various events.
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