What is Biconomy (BICO) crypto? Know price and performance

February 24, 2022 03:13 AM PST | By Rupam Roy

What is Biconomy ((BICO)?

Biconomy is a multichain relayer protocol and claims to enhance the transaction experience on decentralized applications (DApps). It aims to build Web3 products as innate and straightforward as Web2 products.

The platform intends to provide an infrastructure for solving a range of Web3 restrictions. For instance, it aims to focus on creating protocols that could onboard users without paying gas fees, and the users could pay it through any ERC-20 token of their choice.

In addition to that, through its infrastructure, the users could avoid the complexities of the blockchain while offering a faster way to confirm the transactions.

What Is Biconomy (BICO) Crypto?

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In other words, the platform engages in transaction management operations while focusing on gas optimization and reducing gas costs by up to 40 per cent. To meet its target, the protocol uses meta transactions that allow the users to submit a transaction with 0 gas and have a third party that pays the transaction for them.

Sachin Tomar, Aniket Jindal, Ahmed Al-Balaghi, and others have co-founded Biconomy. It is backed by several blockchain venture capitalists like Coinbase Ventures, Binance Launchpad, etc.

According to CoinMarketCap, its total supply is 1 billion, and its current circulating supply is about 106.93 million.

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Bottom line

Biconomy's market capitalization is US$118.79 million, and its fully-diluted market capitalization is around US$1.10 billion. Over the past 12 months, its price tumbled 81.39%.

The BICO token saw the highest and lowest price of US$21.87 and US$1.04, respectively, in the last 52 weeks. It reached its all-time high of US$21.87 on December 2, 2021.

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