Why is $BB BounceBit Pumping?
BounceBit is the first-ever native $BTC Restaking chain. The BounceBit network is secured by staking both Bitcoin and BounceBit tokens. BounceBit's PoS mechanism introduces a unique dual-token staking system that leverages native BTC security with full EVM compatibility.
In a groundbreaking move, BounceBit introduces the mixed DeFi and CeFi yield mechanism, allowing BTC holders to earn yields through native validator staking, DeFi ecosystem, and a CeFi mirroring mechanism powered by Ceffu and Mainnet Digital.
After a week of falls, BB is seeing a substantial rise.
What happened, and where is the price going?
For all projects where there are #Airdrops, it is normal for the price to drop in the days following their launch. Anyone who receives free tokens sells at any cost and will always make a profit, as they did not pay for them.
BounceBit, despite being a project with immense potential, went through the same path.
After this initial phase, where could the price go?
For now, the price faces two resistances that, being close, are important to pass and confirm:
- The $0.50 level
- The ATH was $0.55
When the price consolidates around $0.50, creating strong support, it will move towards the new resistance, which will be at $1.
The price will likely continue rising now that the platform is in operation (staking, etc.).
This is not Financial Advice. Do your own DYOR.
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