IOTA posts modest price gains as network reaches a new milestone Shimmer $SMR $IOTA IOTACommunity crypto cryptocurrency
Shimmer is an incentive Layer 1 innovation network designed to accelerate the development of feeless and highly interoperable digital assets and token economies. Shimmer, like IOTA, is a DAG-based parallelized settlement layer with greater L2 anchoring capacity than traditional blockchains. Shimmer serves as a testing environment for developments aimed toward the IOTA network. SMR is its native token.
The most valuable cryptocurrency by market capitalization was recently trading at over $18,919, down 1.35% in the previous 24 hours. The drop concluded a volatile week that saw hefty interest rate hikes by the U.S. Federal Reserve and other central banks, as well as declining economic indicators that point to a recession.Because of the macroeconomic context, the crypto market in general has remained under pressure.
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