Dogecoin (DOGE) rival Shiba Inu (SHIB) and its affiliated Bone ShibaSwap (BONE) are both up this week, defying a larger downward crypto market trend.
SHIB is trading at $0.000008 at time of writing, up around 6% in the past 24 hours and the same amount in the past seven days.
The overall crypto market cap shrunk from around $1.25 trillion to $1.23 trillion this week, a decrease of around 1.68%.
BONE is trading at $1.41 at time of writing. The 111th-ranked crypto asset by market cap is up 8.78% in the past 24 hours and more than 9% in the past seven days.
The modest price increases come amid the development of Shibarium, Shiba Inu’s highly anticipated layer-2 scaling solution, and the release of the beta version of its cross-chain bridge for public testing this week.
The bridge, which utilizes both Plasma and proof-of-stake (PoS) technology, will allow users to shift tokens between Shibarium and the leading smart contract platform Ethereum (ETH), as well as serve as a scaling solution itself.
Shiba Inu team members have warned crypto traders not to use real digital assets on the bridge yet, just test tokens from faucets, which are platforms that distribute small amount of tokens so that users can complete simple tasks on blockchains.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
