• Bitcoin’s price went on a rollercoaster during the past week, but it failed to chart any significant increase or decrease.
• Coinbase announced that they are launching an Ethereum layer-two scaling solution based on Optimis.
• This caused a serious pump in the price of OP and aims to lure millions of new users into the industry through Base.
Bitcoin’s Rollercoaster Ride
Bitcoin has been on a wild ride this past week, with its price fluctuating between $24,000 and $25,000 without any major gains or losses. On Sunday, BTC reached an all-time high of $25K before correcting back to around $24K. Then, after another unsuccessful attempt at recovery on Thursday, BTC settled back to around $24K where it currently remains.
Coinbase Launches L2 Network Base
This week also saw Coinbase announce their launch of an Ethereum layer-two scaling solution called Base. The platform is designed to attract millions of new users into the crypto space by providing them with improved transaction speeds and lower fees than what was available previously.
Base provides users with a number of features including instant deposits and withdrawals, support for all ERC20 tokens, ability to stake ETH rewards with no minimum amount required, and more. Additionally, Base will be integrated into Coinbase’s existing products such as wallets and exchanges so that customers can take advantage of these features quickly and easily.
The news has sparked excitement within the crypto community as investors anticipate increased adoption due to Base’s many benefits. The fact that Coinbase is behind the project only adds more credibility to it as one of the most popular crypto exchanges in existence today. Furthermore, this could mean higher prices for ETH as well as other altcoins supported by Base in the near future should demand continue to rise steadily over time.
All in all, this past week has been filled with interesting developments within the cryptocurrency space and looks set to continue in this vein going forward as more platforms launch solutions like Base that make using digital currencies easier than ever before. With increased adoption comes increased prices – something investors will certainly be keeping an eye out for over the coming months!