What is PolkaBridge (PBR) crypto and why is it rising?

March 25, 2022 07:07 PM AEDT | By Raza Naqvi

What is PolkaBridge (PBR) crypto and why is it rising? — Image source: © Yur4you | Megapixl.com

What is PolkaBridge crypto?

It is a decentralized cross-chain protocol and aims to act as a bridge between Polkadot and other blockchains. Polkabridge also aims to support decentralized finance (DeFi) features, and it reportedly aims to migrate to the Polkadot blockchain from Ethereum.

The PBR crypto is the native token of PolkaBridge, and it is primarily an ERC-20 token. It can be used for transactions on the network, staking, lending and prediction purposes, among others.

According to the official website, users can swap tokens with PolkaBridge on the DOT platform, and they will be able to earn by adding liquidity, farming, and lending.

Also Read: What is Celo crypto and why is its price skyrocketing?

The total supply of PolkaBridge crypto is 79.8 million, and its circulating supply is 45.8 million PBR tokens. The project was founded by an anonymous team which has reportedly worked in the blockchain and crypto industry for a long time.

The surge in the price of the PolkaBridge crypto is not due to any specific news and it could be due to an overall boost in the crypto market. At the time of drafting, the total crypto market volume was up over 4.8 per cent to US$ 107.1 billion.

Bottom line

PolkaBridge crypto ranks at 802nd spot and its all time high was US$ 11.67 per token on November 16, 2021. The PBR crypto trades on cryptocurrency exchanges like KuCoin, BKEX, BitMart, Gate.io, and MEXC.

The crypto market is extremely volatile in comparison to traditional financial markets and investors should exercise caution before buying virtual currencies.

Also Read: What is Radix (XRD) crypto and why is it rising suddenly?

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.