BTC DeFi Narrative Boosts Altcoins 90% In One Day

The price of a crypto project that could make Bitcoin (BTC) even more important in the world of decentralized finance (DeFi) is going through the roof.

The altcoin RSK Infrastructure Framework (RIF) is now worth $0.15, which is a 90% increase in the last 24 hours.

IOVlabs, based in Gibraltar, started the project in 2019 and built a layer-3 protocol on top of BTC.

The protocol is meant to make Bitcoin more useful and provide a way for developers and people to use BTC in DeFi apps more easily.

Rootstock is a blockchain that tries to combine the security of Bitcoin with the smart contract Features of Ethereum. This platform is built on Rootstock.

RIF is becoming more popular at the same time that Bitcoin-based NFTs are becoming more and more popular.

The project also put out an updated roadmap on February 6, which showed plans to move several products to the mainnet and launch domain names that use Bitcoin.

By market cap, RIF is now the 239th largest cryptocurrency.

Even though the altcoin has gone up 160% in the last week, it is still 66% below its all-time high of $0.45, which was set in April of 2021.

RIF isn’t the only BTC-DeFi coin that is going up in value. At $0.68, Stacks (STX) is up 121% in the last week.

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