Home Altcoin Altcoin Constructed to Enhance Bitcoin Soars 90% in One Day As BTC DeFi Narrative Takes Over – The Day by day Hodl

Altcoin Constructed to Enhance Bitcoin Soars 90% in One Day As BTC DeFi Narrative Takes Over – The Day by day Hodl

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A crypto venture that would push Bitcoin (BTC) additional into the world of decentralized finance (DeFi) is exploding in worth.

The altcoin RSK Infrastructure Framework (RIF) is up 90% within the final 24 hours, at $0.15.

The venture, which was launched by Gibraltar-based IOVlabs in 2019, has constructed a layer-3 protocol on prime of BTC.

The protocol is designed to develop Bitcoin’s utility and provide a gateway that makes it simpler for builders and folks to make use of BTC in DeFi functions.

The platform is constructed on Rootstock, which is a blockchain that goals to mesh the safety of Bitcoin with the good contract capabilities of Ethereum.

The rise of RIF comes amid mounting hype over Bitcoin-based NFTs, which have exploded in reputation this month.

The venture additionally released an up to date roadmap on February sixth, detailing plans to push a number of merchandise to mainnet and launch BTC-powered domains.

RIF is now the 239th-largest crypto asset by market cap.

Though the altcoin has soared 160% within the final week, it stays 66% beneath its all-time excessive of $0.45, which was set in April of 2021.

RIF isn’t the one BTC-DeFi coin that’s on the rise. Stacks (STX) is up 121% within the final 7 days, at $0.68.

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Featured Picture: Shutterstock/studiostoks

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