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

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.

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Featured Image: Shutterstock/Nikelser Kate


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