BitcoinBridged to Avalanche Reaches Record Daily Mint of Over 2K BTC

BitcoinBridged to Avalanche Reaches Record Daily Mint of Over 2K BTC

Clearing the daily record of crypto

As the availability of wrapping bitcoin (wBTC), the biggest packaged variant of bitcoins on Ethereum, decreases, interest in connecting bitcoin (BTC) to the Basalt cryptographic protocol blockchain (BTC.b) keeps rising.
The greatest single-day BTC.b mint ever took place on Thursday, when over 2,000 BTC ($44 million) were moved to Avalanche, thus according data taken from Dune Application installed of anonymous analyst 0xAcid. As a result, BTC.b’s total quantity in circulation has increased to 8,572.

According to, BENQI Finance now has half of the bitcoin that was created on Thursday. BENQI Finance is a decentralized finance (DeFi) system built on the Avalanche platform that enables users to borrow, loan, and boost production on digital content.
BTC holders can now use their coins to make additional income in the Avalanche based decentralized finance (DeFi) ecosystem after the company enabled functionality for bitcoin on its cross-chain bridge in June 2022. Since then, BTC.b has grown significantly, surpassing the amount of coins stored on the Lightning Network.

A crypto bridge is a device that enables communication between the two blockchains, which are financially and technologically distinct. According to a forensics outfit, bridges were a favorite target of hackers last year, making for nearly 70% of all exploits in the cryptocurrency sector.

The records of crypto

The WBTC supply decreased as the unprecedented BTC.b mint occurred. Evidently, well-known WBTC holder and bankrupt cryptocurrency lender Celsius Network exchanged a sizable sum of WBTC, precipitating a significant decline in the token’s supply.
The Ethereum-based token WBTC, created by Bitgo, is priced in relation to bitcoin. The token’s supply has been decreasing ever since it topped at 285,000 during April of last year.

Since Avalanche allows users to generate and redeem BTC.b at any moment with the bridge inside a non-custodial screen recording Basic, avoiding the need for middlemen, the Avalanche group believes that BTC.b is a superior alternative than WBTC. In contrast to WBTC, which depends on merchants to begin the procedure or minting and destroying, it gives users more control.

According to a pseudonymous author for the automatic market maker Osmosis located in Cosmos, claims that the holders of AVAX, the native currency of Avalanche, have not yet noticed the increased use of BTC in DeFI as shown by the rising supply of BTC.b. AVAX was trading near $16, the weakest since January 20, at the time of publication, down about 6% on the day. According to research, the cryptocurrency’s market value has increased by 50% this year.

As Bitcoin’s popularity has increased over time, more people have probably started to wonder how it operates. A massive global community of participants secures and manages the Bitcoin system, a distributed cryptocurrency that runs on it. It is a non-national asset which may be bought and exchanged in small amounts. In contrast to the U.S. dollar, Bitcoin is rare and deflationary due to its 21 million maximal coin supply, which is protected by its open-source code.

The price of Bitcoin in US dollars, which is frequently paired with the dollar, has significantly risen over time. Owners of BTC can store their own Bitcoin and conduct global transactions with it without any restrictions on operating hours. Throughout time, Bitcoin has also attracted a lot of mainstream interest, probably as a result of celebrity endorsements by figures like Elon Musk and corporate adoption. Bitcoin operates independently of the blockchain, thus it doesn’t require any other parties to help with transactions or value storage. The brilliance of the Bitcoin network lies in mining bitcoin. So this is how the trends usually change and you can see it.

Big Eyes Coin Hits $24.5 Million During Presale, How Can Avalanche And Dogecoin Compete?

Big Eyes Coin Hits $24.5 Million During Presale, How Can Avalanche And Dogecoin Compete?

It appears that the crypto flock has earned the requisite attitude to prepare for a bullish offensive after almost a year of the bear market. Bitcoin and Ethereum’s bullish trading for much of January is a major contributor to this shift, among other causes. In particular, many Bitcoin maximalists are rejoicing because of the Ordinary project announcement; this is the first assemblage of freshly created NFTs. Unfortunately, not every cryptocurrency available today is performing at its best. In fact, the prices of some are far lower now than they were at their peak. The presale of the cryptocurrency Big Eyes Coin (BIG) has reached a staggering $16 million.

Now in its ninth stage, Big Eyes Coin is hoping to keep its momentum going by maintaining its generous 200% bonus at checkout with the code LAUNCHBIGEYES200.

Also Read: Big Eyes Coin, Solana, And Ethereum: Hitting Impressive Targets After Crypto Slump

More activity in the crypto industry. As January comes to a close, there has been significant market movement and the advancement of certain presale projects. More and more money is being exchanged for cryptocurrencies this year, proving that many of them are doing well in the new year. Big Eyes Coin has been crushing their presale goals, giving other presale projects and meme tokens a fair run for their money. But what does Big Eyes Coin need to know to be as successful as other coins that have already been released to the market?

Also Read: Maximum DeFi Possibilities Emerge With Big Eyes Coin And Cardano’s Stablecoin

The positive mood is undeniable, despite the fact that some worry that this would cause even greater congestion on Bitcoin’s network. As a result of this information, Big Eyes Coin has been doing extremely well, completely shutting up its detractors by reaching $24.5 million in its presale. In today’s post, we’ll analyse the project’s massive success and consider whether Floki Inu and Dogelon Mars can ride the market’s impending reversal. In addition to having a stunning 3D billboard in New York City a couple of months prior to its official release and earning a launch on a tier 1 CEX, the success of this meme coin is anyone’s guess.

The People’s Cryptocurrency: Floki Inu

Token performance for Floki Inu has not been outstanding over the past several months, but the project has all it needs to succeed in the long run. The token’s unwavering commitment to its community, its strong affiliations to many organisations, and the cryptocurrency university’s efforts to educate the public about blockchain all constitute a holy trinity. After a successful website makeover, Floki Inu may soon be in the black. This endeavour rests on three main pillars, each of which is essential for a meme coin to go viral and become the next big thing on the web.

In Dogelon Mars, you can get to the Moon and back.

Dogelon Mars took a different path to cryptographic supremacy than its rival. In particular, the publication of a comic book about a dog’s journey to Mars helps the publication maintain its commitment to the community. As the market turns around, the cryptocurrency flock usually heads north, and Dogelon Mars is no exception. Considering how most meme tokens aim to piggyback on the success of previous initiatives, this concept is a welcome breath of fresh air in the space. Although Dogelon Mars tokens don’t have the same practical value as other tokens, the project’s active readership makes up for this shortcoming.

The Big Eyes Coin: No Limits

While $50 million seemed impossible to raise at the outset of the presale, recent developments have made that goal seem more attainable than ever. At $24.5 million, the Big Eyes Coin presale is almost halfway complete, and the current 10th stage is on track to quickly surpass the target.

Also Read: Big Eyes Coin Succeeds In Presale And Remains

In particular, this endeavour stands for a flourishing environment in which everyone would have much to do. One can easily stake the project’s native coin BIG, for instance. Despite its status as the meme coin, Big Eyes has a lot more to offer than simply a friendly community and an adorable Japanese cat with anime-style wide eyes. Those who prefer NFTs are also in luck, since a new NFT collection is expected to be unveiled very soon.

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