DeFi Altcoin Surges 78% in Just One Week As Bitcoin (BTC) and Crypto Markets Rebound

An altcoin undertaking that goals to push Bitcoin (BTC) additional into the world of decentralized finance (DeFi) ripped by practically 80% this week as crypto markets recovered.

RSK Infrastructure Framework (RIF) is buying and selling round $0.189 at time of writing, up from practically $0.106 every week in the past, representing a 78% worth surge.

The 204th-ranked crypto asset by market cap can also be up 25% previously 24 hours alone.

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

RSK Infrastructure Framework is designed to broaden 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 (ETH).

RIF’s worth pump occurred alongside a powerful week for Bitcoin.

BTC broke $27,000 on Friday amid swirling macroeconomic issues relating to the soundness of the US banking sector. The highest-ranked crypto asset by market cap is up greater than 36% previously week.

RIF additionally launched a cross-chain bridge, the RIF Flyover protocol, in late February. The protocol offers a decentralized pathway for Bitcoin customers to enter the Rootstock ecosystem and vice versa.

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