The recent cryptocurrency price plunge affected almost all the crypto coins, with Ripple and Ethereum being among the most affected. Large cryptocurrencies like Bitcoin recorded a plunge of 20%, which is huge and sent shockwaves across the entire crypto market.
- Attractive token investors rewards.
- Innovative and investor rewarding tokenomics.
- One of the highly potent DeFi project.
But not all cryptocurrencies are affected by the recent shock. One of the crypto coins that was least affected is Bitrise coin. This is a crypto that launched on 28th July 2018 and has been growing exponentially even when Ripple and Ethereum price was tumbling.
Bitrise is still a mooning can with huge potential as a cryptocurrency. The team behind this project is building a decentralized financial (DeFi) platform that enables users to earn, spend and lend on a peer-to-peer (P2P) platform.
There are many reasons why Bitrise coin price did not tumble like Ripple and Ethereum. But the huge demand the coin has created kept the acquisition of the token even bigger during the plunge. That’s why even today, it is growing exponentially.
Bitrise is one of the fastest-developing DeFi projects in the market today. In the first three months, the team had already developed Bitrise Audits, Techrate Audit, and dApp wallet. These three are currently products running on the Bitrise ecosystem, and the exchange is launching in Q1-2022. The fast development kept the token demand high and shielded the coin price from tumbling like Ripple and Ethereum. Even older DeFi projects have not achieved such a feat.
The innovative Bitrise tokenomics is why the coin is growing exponentially while others are plummeting. The team behind this project has ensured that token holders are highly rewarded. The token is hyper-deflationary 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. The buyback and burning automatically raise the token’s value and maintain a floor price.
In addition to that, token holders receive 4% of the 12% tax as a reward for just holding the $BRISE token. The holding reward in BNB is automatically sent into the holders’ wallet every 60 minutes. Such tokenomics are making the token popular, and that’s why it was not affected when Ripple and Ethereum prices were tumbling.
The upcoming staking process is to shield this coin from shock. The high number of investors buying tokens for the staking process kept the token growing when Ripple and Ethereum were plunging. The platform has promised to share 80% APY of the generated revenue shared among the staked tokens. The announced has attracted even Ripple and Ethereum community members. There are many factors that kept Bitrise coin growing exponentially when prices for coins like Ripple and Ethereum were tumbling.
Follow Bitrise social medial platforms for the latest updates.
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