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Crypto

DeFi TVL down 38%, Layer 1 market cap down 42%; Layer 2 activity down 77%

The cryptocurrency market shrank across on-chain activity in the first half rather than seeing funds rotate into specific areas, Binance Research said. Global DeFi total value locked fell 38% to $43.4 billion and the combined market capitalisation of six major Layer 1 networks dropped 42% to $246.5 billion. General-purpose Layer 2 activity fell about 77%, while losses from 207 security incidents reached $972 million.

Crypto

Shiba Inu use cases expand as Emirates adds crypto payments

Emirates has introduced cryptocurrency payments on its ticket booking platform, expanding real-world use cases for Shiba Inu (SHIB). The airline has begun supporting ticket payments via Crypto.com Pay on its website and mobile app. The option supports 30 cryptocurrencies, including bitcoin and ether, and is limited to eligible customers residing in the United Arab Emirates who have Crypto.com accounts. The payment method applies to bookings priced and settled in UAE dirhams.