Cryptocurrency’s growth can be assessed in many ways. One of them is the growth of liquidity since it depicts how investors are buying the available tokens. Bitrise coin tops among crypto coins with the fastest liquidity growth over the last few weeks.
According to the statistics shared by the team, the liquidity of the coin grew from a low of 100k to +900k, which is a +900% growth in just three weeks. These are stats that are most crypto coins in the market cannot pull off. So what has been driving such massive growth?
There are a lot of activities that have been going around the Bitrise crypto coin over the last two months. These activities have been driving the demand and price of the coin higher at a steady pace. Now, more and more investors are interested in this coin, and the last three weeks have been the perfect time to invest in the Bitrise coin.
There has been an influx of new members joining Bitrise crypto coin. In the last few weeks, thousands of new crypto investors have been buying Bitrise tokens. This includes community members from some of the biggest coins in the market today.
A good example is the thousands of Safemoon and Shiba Inu community members joining Bitrise coin every day. For those who have been following Bitrise news closely they must have come across the article on Safemoon whales joining Bitrise coin.
These are just some of the factors that have contributed to the growth of Bitrise coin liquidity by more than +900%. But these figures are not just coming from nowhere. There is so much that the team has done behind the scene that is driving such huge moves.
Bitrise crypto coin tokenomics have played a critical role in attracting a huge number of new members. This is a hyper-deflationary token, and thus token demand and price will automatically increase with every transaction. The token uses a buyback technique to reduce tokens in circulation.
To regulate tokens in supply, Bitrise has automated the buyback and burning process. This makes it the first cryptocurrency to include automatic Buyback with an actual use case of payment systems.
Every 5% of the 12% fee charged on every sell transaction goes to the buyback contract. The contract then automatically buys tokens from the liquidity pool, and the purchased tokens are burnt immediately. That’s how token liquidity is regulated.
The BNB tokens stipulated on tokenonics are also attracting new members. 4% of the 12% fee is distributed to the token holders in BNBs. The rewards get automatically sent to token holder wallets every 60 minutes. Most investors find this exciting because they have always been forced to request reflections.
The products launched by the team so far have also played a critical role in attracting new investors. The Bitrise dApp wallets is one of the products bringing in many new members because of its unmatched functionalities. Bitrise Audits and Techrate Audit, launched in August, have been performing very well. Though still in the development stage, Bitrise exchange and IBitrise blockchain are also creating traction around Bitrise crypto coins.
It is important to note that apart from the dApp wallet, the announcement of the staking process has indirectly contributed to the growth of Bitrise coin liquidity. More investors are buying the token in bulk for the staking process.
Crypto coin experts believe the token liquidity is soon going to hit the $1m market cap after the launch of the revenue sharing staking program. It will be interesting to watch how Bitrise crypto coin liquidity will behave before and after the launch of the staking process.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Candour Today journalist was involved in the writing and production of this article.