The crypto sphere is closely observing the progress of Rootstock (RSK), a Layer 2 functionality rooted in Bitcoin's blockchain. RSK has been in the spotlight due to its recent world tour campaign, its pioneering work with Dapps, and its introspection of DAOs from Ethereum's playbook, amongst other feats. RSK and other Layer 2 coins have seen a noteworthy surge as Bitcoin hits a 25-month high. Active engagement from Bitcoin whales has also been observed, accumulating roughly $941M in BTC within a 24-hour span during a price drop. A major aspect of RSK's ecosystem is the RIF token, taking centre stage after its dramatic 300% price jump within a few minutes. This escalation coincided with IOVLabs' release of the RIF Flyover Protocol, promoting value transfer between Bitcoin and Rootstock. Radical developments, like Chainlink's integration on Bitcoin's sidechain RSK, crypto wallet app Edge adding support for Rootstock (RBTC), and RCN's partnership with RSK for smart contract lending, are considerable drivers. Additionally, DeFi prospects, the concept of decentralized banking, and the development of blockchain-based Decentralized IDs offer promising growth vectors.
Innovation, outlined by the launch of the
RIF Labs platform and
acquisition of RSK Labs, and RSK's bridge to connect with Ethereum, offers potential growth catalysts. However, the
avoidance of crypto exposure by FDIC's sale of Signature Bank's deposits to Flagstar is a potential snag, and closed APIs may become costlier than anticipated.
RIF Coin News Analytics from Wed, 17 Jan 2018 08:00:00 GMT to Mon, 16 Sep 2024 17:33:33 GMT -
Rating 7
- Innovation 8
- Information 8
- Rumor -5
