• Bitcoin’s price has been on a rollercoaster throughout the past seven days, fluctuating between $24K and $25K.
• Coinbase announced an Ethereum layer-two scaling solution based on Optimis, which caused a pump in the price of OP.
• The new network is called Base and aims to attract millions of new users to the cryptocurrency industry.
Bitcoin Price Volatility
Bitcoin’s price has been on a rollercoaster throughout the past seven days, fluctuating between $24K and $25K. Last week at this time, the price was hovering around similar levels, around $24K, but it quickly took for the skies and touched $25K on Sunday. What followed was the first correction back to $24K, after which BTC bounced again and reached $25K once more. It remained there for a couple of days before bears eventually won the war and pushed the price back below $24K. On Thursday, BTC attempted yet another shot at recovery and got to around $24,700 but failed to sustain these levels and retraced to where it’s currently trading at around $24K.
Coinbase Launches L2 Network
Coinbase announced that they are launching an Ethereum layer-two scaling solution based on Optimis. According to their official press release, Coinbase aims to attract millions of new users into the cryptocurrency industry through Base (that’s how their new network is called). The network will allow users to transact with near-zero fees while still maintaining high transaction throughput speeds due to its implementation of sharding technology like Plasma and zkRollup.
Benefits Of Base
The launch of Base will provide numerous benefits for users such as low transaction fees compared with other networks which can be upwards of 10x more expensive than what Base proposes; higher throughput speeds due to its use of sharding technology; increased security due to its use of smart contracts; plus much more! All these features make Coinbase’s new L2 network one that could potentially revolutionize Ethereum transactions as we know them today.
How To Use Base
Base is already live on mainnet so anyone can start using it now! To do so simply sign up for an account here or download our mobile app here in order to get started transacting with near-zero fees and high speed transactions via your own wallet address or through other wallets like MetaMask or Coinbase Wallet (formerly Toshi).
This week saw Bitcoin’s volatility continue while Coinbase announced a massive update in terms of their L2 scaling solution called “Base” which promises both cheaper transactions as well as higher throughput speeds compared with other networks out there today – making it one worth keeping an eye on over time!