tl;dr
Shiba Inu (SHIB) is focusing on its Decentralized Finance (DeFi) ecosystem with the launch of Shibarium. Despite a slow start, Shibarium's DeFi has a total value locked (TVL) of $4.37 million, showing potential for growth. ShibaSwap is the leading DApp with $2.22 million locked value, and the breako...
Shiba Inu (SHIB) is focusing on its Decentralized Finance (DeFi) ecosystem with the launch of Shibarium. Despite a slow start, Shibarium's DeFi has a total value locked (TVL) of $4.37 million, showing potential for growth. ShibaSwap is the leading DApp with $2.22 million locked value, and the breakout in Shibarium figures indicates a potential dominance in the L2 scaling solution.
Meanwhile, SHIB's price has dropped by 3.58% to $0.00001706, but community members believe SHIB’s utility will continue to grow, impacting the price in the long term. The focus for now is on rebalancing the token from its intense sell-off and reviving metrics like the burn rate.
Shiba Inu has continued to pursue new growth triggers on the market, this time focusing on its Decentralized Finance (DeFi) ecosystem. When the team launched Shibarium last year, one of the key expectations hinged on its sustained growth to compete with other layer-2 scaling solutions like Arbitrum.
Per data from DeFiLlama, the Shibarium DeFi currently has a total value locked (TVL) of $4.37 million. This comes after this metric crossed the all-time high (ATH) of $4.81 million. This figure might appear small, but it marks a significant boost from the previous high of $3.9 million recorded earlier in March. The lower TVL is evidence of retail domination in the Shibarium DeFi world.
The biggest decentralized application (DApp) remains ShibaSwap, which has a $2.22 million locked value. Besides ShibaSwap, the newly launched K9 Finance DAO ranks second, above older protocols like Woofswap, CherrySwap, and MARSWAP. The breakout in the latest Shibarium figures is evidence of revived sentiment that the L2 scaling solution might become the dominant solution in the future.
Shiba Inu has remained in a strong consolidation phase, with its price trading in a tight range over the past month. Despite the actions of market whales, SHIB's price has pared off recent gains, dropping by 3.58% in 24 hours to $0.00001706. The coin is always known to rebound after intense drawdowns, and this latest trend might follow previous moves. With the Shiba Inu team always promising updates on the chain, community members believe SHIB’s utility will continue to grow, impacting the price in the long term. For now, the focus remains on rebalancing the token from its intense sell-off and reviving metrics like the burn rate again.
More about Banco De Chile
Banco De Chile, Banco de Chile, provides banking and financial products and services to clients in Chile. The company is headquartered in Santiago, Chile.
Industry: FINANCE, COMMERCIAL BANKS
NEC: 12207905000
Open: 8.08
Close: 8.08
Change: 2.99
Volume: 5702.8
Dividend: 0.485
Market Cap: 2880381125000
PE Ratio: 25.65
EPS: -0.027
ROI: -0.007