Bitcoin-Based DeFi Coin Surges – Here’s Why

RSK Infrastructure Framework (RIF) is experiencing a significant surge in price, demonstrating a trend in Bitcoin Defi.
In the past day, RIF gained 90% in value, rising from $0.09 to reach $0.17 before pulling back to its current price of $0.14.
The project, which IOVlabs launched in 2019, has created a layer-3 protocol on top of Bitcoin to expand the leading cryptocurrency’s utility and provide a gateway that simplifies its use in DeFi applications.
Rootstock: Bitcoin’s security, Ethereum’s smart contract capabilities
RIF is built on Rootstock, a blockchain that aims to combine the security of Bitcoin with the smart contract capabilities of Ethereum. This approach creates a unique framework that provides a secure, scalable, and efficient platform for building decentralized applications.
The protocol developed by RIF is designed to complement Bitcoin, allowing developers and users to enjoy the benefits of both Rootstock’s technology and BTC’s security.
RIF’s updated roadmap and new products
The rise of RIF comes amid increasing excitement over Bitcoin-based non-fungible tokens (NFTs), which have gained popularity in recent weeks.
RIF’s updated roadmap, released on February 6th, details plans to launch several products to the mainnet and introduce BTC-powered domain names. This roadmap update has helped fuel the surge in RIF’s price, demonstrating the strong demand for Bitcoin-based DeFi solutions.
The RIF 2023 Roadmap has landed 🚀 ✨
New products, token reward scheme, and BIG news 💥🗞️
And this is just the start…
Find out more at https://t.co/ZWZgBRjZ1p and keep on top of the latest announcements pic.twitter.com/VBigO6MUxp
— rif (@RIFtechnology) February 7, 2023
RIF’s recent performance
The altcoin is the 240th-largest cryptocurrency by market capitalization at the time of writing. Although it has soared 180% in the last week, it remains around 70% below its all-time high of $0.45, set in April 2021.
This recent surge in price is part of a broader trend of increased interest in DeFi, which has seen a growing number of investors flock to the sector. RIF’s strong performance is a testament to the ever-increasing demand for DeFi solutions built on Bitcoin’s secure and decentralized platform.
Other BTC-DeFi coins on the rise
RIF is not the only BTC-DeFi coin experiencing a price surge. Stacks (STX) is up more than 100% in the last 7 days. Stacks is built on top of Bitcoin and aims to create a new kind of internet that is powered by decentralized applications. Like RIF, Stacks seeks to leverage Bitcoin’s security and Ethereum’s smart contract capabilities to create a unique DeFi ecosystem on top of the flagship cryptocurrency.
Conclusion
The recent surge in RSK Infrastructure Framework’s price is a testament to the growing interest in BTC-based DeFi solutions. With RIF’s unique protocol, built on top of the secure and decentralized Bitcoin platform, users can enjoy the best of both worlds, with Rootstock’s smart contract capabilities and Bitcoin’s security. As more and more investors flock to DeFi, RIF and other BTC-DeFi coins will likely experience continued growth and increasing demand.