According to the latest reports, it seems that more great news is around the corner about the digital assets. Check out the following data below.
Altcoin built to boost Bitcoin surges 90% during 24 hours
A crypto project that could push Bitcoin (BTC) further into the world of decentralized finance (DeFi) is exploding in price.
The altcoin RSK Infrastructure Framework (RIF) is up 90% in the last 24 hours, at $0.15.
The online pubcalition the Daily Hodl notes the following: “The project, which was launched by Gibraltar-based IOVlabs in 2019, has built a layer-3 protocol on top of BTC.”
The same notes continued and said this:
“The protocol is designed to expand Bitcoin’s utility and offer a gateway that makes it easier for developers and people to use BTC in DeFi applications.”
The same notes reveal the fact that the platform is built on Rootstock, which is a blockchain that aims to mesh the security of Bitcoin with the smart contract capabilities of Ethereum.
The rise of RIF comes amid mounting hype over Bitcoin-based NFTs, which have exploded in popularity this month.
NFT trading surges in January
The NFT trading volume of non-fungible tokens (NFTs) skyrocketed in January. This has been happening as the crypto markets mounted a recovery from a months-long bear market.
According to new data from market intelligence platform DappRadar, “NFT sales jumped up by 38% on a month-to-month basis to $946 million in January, the highest trading volume recorded since June 2022,” as the online publication the Daily Hodl notes.
It also finds that NFT sales soared 42% from December 2022.
“The NFT market seems to be recovering with the surge of NFT trading volumes and sales counts in January 2023. The NFT trading volume recorded a 38% increase from the previous month, reaching $946 million. This is the highest trading volume recorded since June 2022. The sales count of NFTs also increased by 42% from the previous month, reaching 9.2 million.”