Binance, the largest exchange by trading volume, has the ShibArmy elated after an announcement on Friday, August 4, clearing Shiba Inu token to serve as a collateralized asset alongside 22 other cryptocurrencies that will henceforth be loanable on its Flexible and VIP Loan services.
The contagion from the Curve Finance exploit is spreading throughout the DeFi ecosystem. JP Morgan’s team of analysts led by Nikolaos Panigirtzoglou penned a report on the state of DeFi and said that the ecosystem is in a shrinking or stalling mode.
Bitcoin price is at a six-week low as BTC options contracts worth $530 million are set to expire on Friday. The maximum pain point or the price at which the contracts would incur the highest financial losses is $29,500.
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