Invezz.com – RIF cryptocurrency price was the best performing cryptocurrency token on Saturday, even as cryptocurrencies continue to struggle. RIF token is up more than 25%, according to Binance. Other high-yield tokens include Zilliqa, Render Token (TYO:) and CELR. Fan icons like OG and ACM were also fine.
Why does RIF go up?
RIF, which stands for Root Infrastructure Framework, is a blockchain project focused on the decentralized finance (DeFi) industry. It has created a platform that allows developers to create fast, scalable and secure products for the blockchain.
RIF owns several products, including the RIF Name Service, RIF Relay, RIF Flyover, and others. The latter provides a quick and secure way for people to move in and out of the Rootstock ecosystem. It also makes it possible for people to earn interest, obtain loans and hedge against inflation.
It is not clear why the price of RIF has risen in recent days. One possible reason is that the consensus event will start next week. Consensus is the largest event in the cryptocurrency industry. As part of this year’s roadmap, RIF said it will make an important announcement during the event.
As shown below, developers will display the RIF wallet and short RNS domain names directly on the mainnet. It will also display a DeFi gateway on the mainnet. These are important features that will shape the network for future growth.
https://twitter.com/rif_os/status/1622801671695872000/photo/1
RIF Cryptocurrency Price Predictions
The price of the RIF cryptocurrency has been experiencing a strong upward trend in recent months. It jumped by more than 2,605 from its lowest level in December last year. This surge caused the coin to surge to a high of $0.2200 in March. It oscillates between the 50 and 100 day moving averages.
A closer look shows that it has formed a double top pattern with the neckline at 0.087 cents. So, despite this rally, there is a possibility that the token could break out soon in the near term. This will happen when investors sell news or facts. In trading, this situation occurs when traders buy an asset before major news and then sell after the news has occurred.
The post here is Why RIF Crypto Price Goes Up: Preparing for a Rollback appeared first on Invezz.
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