Altcoin Built to Boost Bitcoin Surges 90% in One Day

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.

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.

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.”