Why did Infinite Coin skyrocket (has Infinite Coin returned to zero?)

08/06/2023 17:38 • Metaverse Matters • 67 views

Why did Infinite Coin skyrocket? In yesterday’s article, I explained in detail what the infinite magnitude of Bitcoin is Simply put, the prices of small currencies are constantly rising. From the graph, it can be seen that there are thousands to hundreds of thousands of points, and price fluctuations are becoming increasingly intense. So why did Bitcoin skyrocket? The answer is very simple:

1. The number of Bitcoins has increased

2. The network transaction cost of Ethereum increased 3. Increase in EOS block rewards This phenomenon is actually extremely rare, as many projects are currently short selling ETH, resulting in the selling of tokens Bitcoin has little value

5. Recently, various DeFi platforms have experienced significant growth, and the biggest reason for this is that Uniswap’s liquidity pool is decreasing, and this market is also slowly forming. At present, the lockdown funds in DeFi exceed $100 billion, but this number is still very high (close to $100 million) Many people take this factor deeply, which is the total amount and market value of DeFi’s locked assets, as well as its ecological applications. In this mode, the application scenarios of DeFi become increasingly broad and popular. So, if you want to gain more users, you need to go mining or buy some DeFI products

But in fact, these projects obtain traffic through exchanges, rather than directly entering the Cryptocurrency exchange for investment. Therefore, for investors, they can participate in DeFi in a more convenient way. For example, you can use decentralized wallets for deposit and withdrawal, payment, financial management, and more. But this is not completely free yet. Of course, there are also some people who choose to use their own money to purchase DeFi products, and the same goes for DEX like Uniswap. (I won’t go into detail here)

Has the unlimited coin been reset to zero?

Editor’s note: This article is based on the data and is authorized to be reprinted by the Daily Planet After Bitcoin halved on August 12th, the price of Infinity Coin (Infinity) plummeted by over 20%, with a current value of about $1, compared to a previous total market value of only around $60 million. In the past few days, the price of ‘unlimited’ has increased from $50000 to nearly $1 million now. This has caused confusion for many people, but it has also sparked some thinking: “Has the infinite coin returned to zero?”

Of course, if we really want to say that it has disappeared? I don’t know when it happened, because we may still be waiting for something. Is Infinite Coin Zero? You may think that as more and more project parties enter this field, people’s perception of it is changing So here’s the question: why is there such a big fluctuation? The answer is simple:

1. The Cryptocurrency market has begun to mature, investors have poured in, and the DeFi ecosystem on Ethereum network is also expanding. According to CoinMarketCap data, the trading volume of Ethereum exceeded 300 million dollars, more than 70% higher than Bitcoin. However, in this case, Bitcoin lost its dominant position. Due to a lack of regulatory restrictions and institutional participation, the encryption market has been severely hit. 3. The decline in cryptocurrency asset prices has led to many people selling off their Bitcoin holdings, leading to an increase in prices. 4. The continuous depreciation of Bitcoin makes it a choice for venture capital or Alternative investment. The DeFi craze will inevitably push down the prices of BTC and ETH.

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Why did Infinite Coin skyrocket (has Infinite Coin returned to zero?)

Has the unlimited coin been reset to zero?

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