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Highlights
- Bifrost is a multichain middleware platform, which allows the developers to create DApps on top of multiple protocols.
- Built on Kusama, the platform allows users to participate in DeFi applications, while earning staking rewards.
- BFC is ranked 313 on CoinMarketCap and was currently trading at US $0.240052 with a 24-hour trading volume of US $6,988,180.
Many would associate word Bifrost as a burning rainbow bridge which connects the mythical cities of Midgard (Earth) and Asgard. Well, all the Thor lovers wouldn’t need any second introduction to the Bifrost and what it does. But for crypto aficionados, Bifrost is a popular crypto that has grabbed the attention of many experts and investors largely because of its ability to connect to multiple decentralised applications (DApps).
In the crypto world, Bifrost is a multichain middleware platform, which allowx the developers to create DApps on top of multiple protocols. As it is not restricted to a single blockchain network, Bifrost, or BFC as its popularly called, allows the developers to write smart contracts for multiple blockchain protocols in one single environment.
Why Bifrost (BFC) crypto can be a long-term investment option?
Built on Kusama, it allows users to participate in DeFi applications while earning staking rewards on their cryptocurrency. Developers can seamlessly switch from one target blockchain as new and better protocols become available.
Is it safe to invest in Bifrost?
The Bifrost aims to introduce liquid staking, a concept that allows users to stake any cryptocurrency using the Bifrost platform, such as DOT or ETH and in return receive a vToken of equal value (vDOT or vETH). The vTokens allows the users to DeFi on Kusama without having to give up their amount.
In order to maximise the potential, the users can build service from multiple possibilities for the combinations and interoperability. Being scalable and superior in nature, with its technology, the developers are able to extract the most from blockchains. And it is this flexibility that allows the users to drive the best from different blockchains as per their need.
Its performance
BFC is ranked 313 on CoinMarketCap and was currently trading at US $0.240052 with a 24-hour trading volume of US $6,988,180. At the time of writing (BST 2:30 pm), BFC was up by 1.59% in the last 24 hours. BFC currently has a live market cap of US $202,708,310 with a circulating supply of 844,434,685 BFC coins.
As it provides a wide platform to choose from, Bifrost is an ideal crypto for investors who are looking to diversify their portfolios. It has showcased a decent amount of traction and has given mixed results to the investors.
In the next five years, market experts predict it will expect to register +842.33% gains, with the price expected to touch US $942.33 by 2026. Bifrost is ideal for investors who are looking to pick up tokens with long-term investment in mind.
