An altcoin project that aims to boost Bitcoin (BTC) deeper into the world of decentralized finance (DeFi) torn nearly 80% this week as crypto markets rallied.
RSK infrastructure framework (R.I.F.) is trading around $0.189 at time of writing, up from almost $0.106 a week ago, which is a 78% price increase.
The 204th-ranked crypto asset by market capitalization is also up 25% in the last 24 hours alone.
The project, which was launched by Gibraltar-based IOVlabs in 2019, has built a layer 3 protocol on top of BTC.
The RSK Infrastructure Framework is designed to expand the utility of Bitcoin and offer a gateway that makes it easy for developers and individuals to use BTC in DeFi applications.
The platform is based on Rootstock, which is a blockchain that aims to combine the security of Bitcoin with the smart contract capabilities of Ethereum (ETH).
The RIF price pump happened alongside a strong week for Bitcoin.
BTC broke $27,000 on Friday amid macroeconomic concerns about the stability of the US banking sector. The top-ranked crypto asset by market capitalization is up more than 36% in the past week.
RIF also thrown out a cross-chain bridge, the RIF Flyover protocol, in late February. The protocol provides a decentralized pathway for Bitcoin users to enter the Rootstock ecosystem and vice versa.
Don't miss the beat Subscribe to receive crypto alerts via email directly to your inbox
Check price action
follow us Twitter, Facebook and Telegram
Browse Hodl's Daily Mix
ย
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.
Generated Image: Half the Journey
Featured Image: Shutterstock/Nikelser Kate
