The Bitrise coin has broken yet another crypto record this week. The coin just recorded a mind-blowing growth by rising up +5000% in a week. But this is not surprising for the crypto enthusiasts who have been following the coin for a while now.
Bitrise coin has been performing exemplary well in the market. It has been one of the most aggressive crypto coins, giving the likes of Safemmon, Shiba Inu, Dogecoin, and many other crypto coins stiff competition.
This rise in value is simply from the demand this coin has created in the market for the last two months. In the last three weeks of October, the Bitrise coin recorded one of the largest numbers of new members since the coin was launched. It is in the period that its liquidity grew from around 100k to +900k, which was about 900% growth. The community grew in thousands and has continued to enjoy a huge number of new members joining every day.
There are a couple of factors driving this recorded breaking growth, and they are the tokenomics and the project products. On tokenomics, Bitrise coin is the most attractive crypto in the market. The team first burnt 50% of the quadrillion tokens in supply, and only 38% of the token supply is in the liquidity pool for investors to purchase.
Bitrise uses the buyback technique to regulate tokens liquidity. But the team has an automated buyback process, which is not done by another cryptocurrency. In fact, Bitrise is the first cryptocurrency ever to automate Buyback with a real use case of payment systems. It is an element that has attracted a lot of crypto investors.
Investors are also earning static rewards in BNB for holding Bitrise tokens. The rewards are automatically sent to the token holder’s wallet every 60 minutes. Products released and those in the development stages have also been driving this growth.
The team previously launched Bitrise Audits and Techrate Audit in August as the first products. The programs offer free audit programs for blockchains and smart contracts and have been a game-changer in audits.
The launch of the Bitrise dApp wallet and its Beta 2 version boosted investors confidence, and more new members started joining in drones. The wallet is available on Google Play Store for Android phones. For iOS phone users, the mobile app wallet will be soon listed on the Apple App Store.
Soon, Bitrise is starting the staking process, and the network’s revenue share program is launching in November. Token investors will enjoy 80% APY of the revenues generated from the products such as Bitrise Audit, dApp wallet,
Bitrise exchange (in the development stage) and IBitrise Blockchain are two major products in the pipeline. The latter will use Relaychain, Parachain, and Smart contracts, which are the hottest technologies today!
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Ahmedabad Local journalist was involved in the writing and production of this article.