Analysis Crypto by Thebittimes.Com

X Layer is a zero knowledge (ZK), EVM-compatible Layer-2 network. The Polygon CDK powered L2 is live and  integrates with over 200 dApps across DeFi, wallets, NFTs and gaming among others. OKX, one of the world’s largest Crypto exchange companies, has launch ed the public mainnet of its EVM-compatible Layer 2 network “X Layer” is now live. Haider Rafique, the chief marketing officer at OKX, announced the launch in a blog post on Tuesday. According to the OKX official, the Polygon Chain Development Kit (CDK)- powered L2 integrates with over 200 decentralised applications (dApps) onboarded during X Layer’s testnet. X Layer integrates over 200 dApps X Layer also integrates with the OKX exchange’s CEX platform and the OKX Web3 Wallet. As an EVM-compatible network, X Layer allows users to tap into dApps on Ethereum as well as bridge assets from the OKX CEX and Web3 Wallet. “ Our objective is to make it cheaper and ...

On Aug. 9, Coinbase, the cryptocurrency exchange, will release its Base layer-2 platform for public access without restrictions. Before then, an Ethereum bridge will also be launched. Coinbase’s protocols lead Jesse Pollak said, “Base’s bridging functionality is up and running, and the mainnet will be open to everyone by Aug. 9.”  The newly established bridge allows users to transfer tokens between Ethereum and Base. Base is now open for bridging Base opens for everything on August 9 We’re helping throw an onchain festival to celebrate ɪᴛ'ꜱ ᴏɴᴄʜᴀɪɴ ꜱᴜᴍᴍᴇʀ 🟡https://t.co/p8KTcnkbbx — Base ️ (@BuildOnBase) August 3, 2023 Base is a layer-2 platform that offers a versatile alternative to Ethereum with reduced transaction costs. The network is designed to cater to a broad range of users, from typical Coinbase users to defi enthusiasts.  The Base mainnet was launched on Jul. 13 for developers. However, many users could bridge assets to ...

Following the closure of Silicon Valley Bank last week, First Re public has seen its stock crash to an all-time low, according to Forbes. Specifically, the report noted shares plummeted another 30% on Thursday, as the California-based bank is “weighing a sale.” The report notes that the stock plummeted to $22 on Thursday morning before trading was halted on the New York Stock Exchange. Moreover, the drop signifies, “its lowest share price since going public in 2010,” according to Forbes. Source: New York Times First Republic Next to Fall? The past few weeks have induced new panic in the financial sector, as several US banks have collapsed. Specifically, Silicon Valley Bank and Signature bank were closed by regulators on Sunday. The Federal Reserve announced a ballot procedure to protect depositors of the failed bank. Per their website, First Re public is a top-25 bank in the US by asset size. They manage $212 billion in assets with $174 billion in deposits as of the ...