Shiba Inu Ecosystem Token Surges With 7% Weekly Gains, Ripple Follows Close Behind To Move Up The Chart By Benzinga

Benzinga – Shiba Inu (CRYPTO: SHIB) ecosystem token Bone Shibaswap (CRYPTO: BONE) is up 7% in the last seven days, topping CoinMarketCap’s weekly gainer list.

What Happened: BONE surged after SHIB developers said on Wednesday that the much-awaited Shibarium blockchain is set to release its beta version for the layer 2 network this week.

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At the time of writing, BONE was trading at $1.70.

A beta testnet is a blockchain that mimics the functioning of the real world. Layer 2 is a set of off-chain systems (separate blockchains) built on top of layer 1 protocols that help to reduce bottlenecks, enabling faster and more efficient data scaling.

Attention #SHIBARMY

We’re thrilled to announce that #SHIBARIUM Public Beta will be launching THIS WEEK!

Make sure you’re following our official socials over the next few days as we reveal all the details on how to access the beta website. Hail Shib! #ShibariumBeta

Ripple (CRYPTO: XRP) saw a 3.88% price jump in the last seven days, trading at $0.39. The surge in demand was likely spurred by comments from Ripple CEO Brad Garlinghouse on Wednesday after he declared that the Securities and Exchange Commission has “no infrastructure for a registered token to trade nor provided any clarity.”

Read Next: Bitcoin, Ethereum, Dogecoin Drop On Report Of Biden’s Crypto Tax Tweaks: Analyst Urges Focus On ‘Red Candles’ Amid Major FOMO

© 2023 Benzinga does not provide investment advice. All rights reserved.

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