Litecoin Price Tumble, While BitriseCoin Skyrocketing

By Stan Peterson
Published December 8, 2021 Updated December 9, 2021
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Litecoin Price Tumble, While BitriseCoin Skyrocketing

By Stan Peterson
Published December 8, 2021 Updated December 9, 2021
  • 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:

Website: www.bitrisetoken.com

Telegram: t.me/bitrisetoken

Coinmarketcap: https://coinmarketcap.com/currencies/bitrise-token/

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Stan Peterson
768 Articles
Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.

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