- Attractive token investors rewards
- Innovative and investor rewarding tokenomics
- Fastest-developing DeFi protocols
The recent crypto market price plunge affected almost all large cryptocurrencies, including Litecoin and others. Perhaps Bitcoin was the most hit with a 20% plunge, which caused ripples in the entire market.
Even withthe tumbling Litecoin price, some cryptocurrencieswere not affected by the plunge. Some even recorded skyrocketing growths. One such crypto coin is theBitrise coin. It is still a mooning thatmanaged to avoid the priceshock affectingLitecoin coin.
Bitrise is a decentralized financial (DeFi) platform that enables users to earn, spend and lend on a peer-to-peer (P2P) platform. The token launched on the Coinmarketcapin late July 2021.Unlike Litecoin and other crypto coins, the high demand for the Bitrise tokenkept the coin growing against the tide.
There are several ways Bitrise coin managed to keep the demand high during the plunge period.Fast development of this DeFi protocol is one of them.The team has put a lot of work into developing this project, and today, it is one of the fastest developing DeFi projects. This is something that is attracting even the Litecoin community.
In just three months after the token launch, the team had already developed Bitrise Audits, Techrate Audit, and dApp wallet. Not many DeFi projects have managed to record such accomplishments in three months.
In just four months, the Bitrise team has announced the launch of the staking process, which is a huge milestone for this project. The fast development is one reason why the coin price is growing when Litecoinprice is tumbling.
The rewarding nature of the Bitrise coin is another reason why the coin is skyrocketing, unlikeLitecoin that is tumbling. Because of the innovative tokenomics, more investors were buying the token tokeeping the coin growing, unlike Litecoin.
Bitirise is a hyper-deflationary token and uses a contract to buy back tokens from the liquidity pool. Every 5% of the 12% tax on all transactions goes to the buyback contract, which burns bought tokens immediately after purchase to raise the token value and keep a healthy floor price.
The 4% of the 12% tax that is rewardedto token holders for just holding tokens is another reason for Bitrise coin skyrocketing when Litecoin is plunging. The holding reward is in BNB and is sent automatically into the holders’ wallet every 60 minutes. The static reward is also attracting Litecoin members.
There are all indications that Bitrise coins managed to avoid the plunge, unlike Litecoin, because of the upcoming staking process. The 80% APY staking revenue shared to staked tokens is attracting even Litecoin members. In a rush to buy staking tokens, investors kept the Bitrise coin kept skyrocketing when Litecoinwas plunging.
Unlike Litecoin, Bitrise will continue to show bullish growth in the coming weeks. The launch of the staking process is except to increase this growth. For more information about Bitrise coin, check out the following platforms:
- Breaking: Valkyrie Planning To List Bitcoin Mining ETF On NASDAQ
- Just-In: OpenSea Reportedly Planning to Integrate Solana And Phantom Wallet
- Can Bitcoin’s Price Hit $1 Million? Ark Invest Is Confident It Can Happen In 2030
- DappRadar: Strong Possibility of DeFi Shakeout In 2022 Amid Crypto User Exodus
- YouTube’s Head of Gaming Joins Polygon Studios, CEO Praises NFT and Crypto
- Bitcoin And Ethereum Sell Off Nearing An End- CNBC Host Jim Cramer
- Crypto News: Thailand To Regulate Cryptocurrencies As Means of Payment
- YouTube’s CEO Hints That NFTs Might Be Coming To The Video Sharing App
- Will McDonald’s Accept Dogecoin Following Elon Musk’s Challenge?
- Bitcoin’s Positive Correlation With The Stock Market Index Records A Mild Increase
- Solana Creeps Higher, Looks To Revisit January Highs AT $177.0
- Ethereum Price Analysis: Fibonacci Retracement level 0.618 Triggers Recovery Rally In ETH Coin
- BTC Price Analysis: Death Crossover Brings Nightmares On Satoshi Street; Is This A Buying Opportunity?
- Bitcoin Death Cross Haunting Investors, Will BTC Make or Break?
- DOGE Price Analysis: Highly Influential Bearish Trendline Undermines Bullish Attempts; Buy, Sell Or Hold?
- Terra Price Analysis: Will LUNA Price Bounce Back at 0.382 Fibonacci Retracement?
- SAND Price Analysis: Sandbox Price Losses 50% Retracement Level, Good Time to Buy?
- LINK Price Analysis: Chainlink price reclaims 200-day EMA, Emerging trendline Suggests More Upward Price Movement
- Harmony Price Analysis: Rising Parallel Pattern Could Lead 30% Growth In $ONE Price
- Ripple Price Analysis: XRP Bears Struggle To Breach $0.7 Support Zone, Is A Reversal Next Move?