Shibarium Launches To Chaotic Start As Platform Suffers Technical Issues: Developers Say Funds Safe
Portfolio Pulse from Murtuza Merchant
Shibarium, the Layer 2 network of Shiba Inu (CRYPTO: SHIB), launched amidst technical issues due to an unprecedented surge in traffic. The developers assured that there are no bridge issues and all user funds remain secure. The launch of Shibarium, built on the Ethereum (CRYPTO: ETH) blockchain, aims to tackle issues related to slow transaction speeds and elevated gas costs in the blockchain domain. The Shiba Inu crypto is trading down 11.4% at $0.00000859.
August 17, 2023 | 3:24 pm
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NEGATIVE IMPACT
Shibarium, built on the Ethereum blockchain, faced technical issues during its launch. This could potentially impact Ethereum's reputation and price.
As Shibarium is built on the Ethereum blockchain, the technical issues faced during its launch could potentially impact Ethereum's reputation and price. However, the direct impact on Ethereum might be limited as it's only one of many projects built on its blockchain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Shibarium's launch faced technical issues due to high traffic, but developers assured that funds are secure. Shiba Inu's price is down 11.4%.
The technical issues faced during the launch of Shibarium, a Layer 2 network of Shiba Inu, could negatively impact investor sentiment, leading to a decrease in SHIB's price. However, the developers' assurance of fund security might mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100