Cryptocurrency derivatives exchange FTX (FTT), which is currently facing insolvency, seems to be the latest victim of the crypto bear market.
FTX’s founder and CEO, Sam Bankman-Fried, informed investors the business would have to file for bankruptcy if it did not get a capital injection. Amid this, the cryptocurrency market nosedived, and the values of almost all coins fell to new lows.
Bitcoin (BTC), the biggest cryptocurrency by market capitalisation, fell to a new 52-week low of $15,682 on 9 November. As of 11 November, the price had marginally rebounded, and BTC was trading at $17,206.
Bitgert (BRISE), a budding blockchain ecosystem, fell to a 90-day low of $0.0000003503 on 9 November, mirroring the broader market trend. BRISE was trading at $0.0000003914 on 11 November, up nearly 12% from its low.
How will the Brise coin respond to the current market turmoil? Will it unshackle and continue to climb, or will it succumb to the prevailing market downturn? But first, let’s understand what Bitgert is.
What is Bitgert and how does it work?
Bitgert is a blockchain-based crypto engineering organisation based on the Binance Smart Chain (BSC) blockchain that intends to deliver solutions for blockchain-based audits and products globally. To assist this goal, the organisation has created the Brise Chain, a fast-working blockchain.
The Bitgert organisation’s native blockchain is the Brise Chain, which has no gas fees and can handle up to 100,000 transactions per second (TPS).
How does Bitgert work? The BRISE Chain, according to Bitgert, depends on a proof-of-authority (PoA) architecture to provide quick block times and cheap fees. The BRISE chain supports smart contracts and is compatible with the Ethereum Virtual Machine (EVM).
Since BRISE is EVM-compatible, it debuted with support for the vast array of Ethereum (ETH) tools and decentralised applications (dApps), making it simple for developers to migrate from Ethereum.
Among the existing offerings in the Bitgert ecosystem is a decentralised finance (DeFi) protocol called Knit Finance, a non-fungible token (NFT) marketplace called Miidas NFT Marketplace, and the decentralised exchange (DEX) SPYNX Labs.
BRISE is the native token of the BRISE Chain and Bitgert ecosystems, and operates based on smart contracts. These contracts enable the token to be exchangeable and swappable with Ethereum-based ERC-20 and Binance-based BEP-20 tokens.
What is Bitgert coin used for? BRISE tokens are used to pay gas fees for smart contract execution, staking, a peer-to-peer payment service and collecting network transaction fees.
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BRISE/USD price analysis
BRISE historical performance
Source: CoinMarketCap
Past performance is not a reliable indicator of future results
According to CoinMarketCap, the BRISE coin has generated a 40,497% return on investment (ROI) since its debut, making it a high-performing token.
The BRISE token price increased by 40,300% from $0.00000001 on 31 July to an all-time high of $0.00000404 on 13 August.
Swap short:
Swap long:
| Long position overnight fee | -0.0753% |
| Short position overnight fee | 0.0069% |
| Overnight fee time | 22:00 (UTC) |
| Spread | 0.2044 |
However, on 27 August, the price fell to less than $0.000000000001, a drop of more than 99.99% from the August high. During this period, the overall market climate was bearish, and the prices of numerous other coins fell in value.
On 2 November, the positive trend resurfaced, and the Brise token price reached $0.0000006291. However, the rally did not last.
Brise fell to $0.000000139 on 19 December and closed the year at $0.0000002675.
The cryptocurrency market has not had a positive start to 2022, with many cryptocurrencies losing value since the beginning of the year.
BRISE fell further, reaching $0.0000001875 on 4 February. However, a powerful bull surge lifted the token to $0.000001605 on 7 March.
The overall market atmosphere became highly bearish in Q2 amid the Terra-UST crash, and the BRISE token price fell to $0.0000003223 on 12 June.
BRICE enjoyed positive market sentiments again during August and September, reaching $0.00000103 on 1 September. However, it fell once more, reaching a 90-day low of $0.0000003503.
As of 11 November, Bitgert was trading at $0.0000003914 and had a market cap of $160.28m.
Bitgert news and price drivers
Bitgert has undergone several important milestones lately. Here is a quick recap of some key events.
Partnership with Ivendpay
In November 2022, Bitgert teamed with Ivendpay, a payment system that enables vending machines and store outlets to accept cryptocurrency payments.
Partnership with Math Wallet and AmpleSwap
Also in November, Bitgert partnered with Math Wallet and AmpleSwap. Both platforms will include the Bitgert Chain.
Math Wallet is a multi-platform (mobile/desktop/hardware) cryptocurrency wallet that supports over 50 coins. AmpleSwap is a BSC-based DEX with farming capabilities for DeFi.
The bottom line
Bitgert is at a crossroads due to its high circulating supply of 395.68 trillion tokens, lack of significant social media presence, lack of project updates and an ecosystem overburdened with an abundance of coins.
Additionally, there are several red flags around Bitgert. Concerns persist over its ownership structure, utility token and auditing methods.
Before considering whether to invest in the BRISE coin, investors must examine all of these issues thoroughly. There is no simple solution and no assurance that the asset will be a long-term profitable venture.
The information, including BRISE price forecasts, is neither investment advice nor a substitute for the counsel of a licensed financial advisor. Before purchasing Bitgert, you should do your own research.
FAQs
How many Bitgert coins are there?
According to CoinMarketCap, Bitgert has a maximum supply of one quadrillion, out of which 395.68 trillion tokens are currently in circulation.
Who created Bitgert?
As of 11 November, there are no formal records on the Bitgert founders. Consequently, they remain unidentified.
Who owns Bitgert?
Bitgert is collectively owned by its founders, stakeholder, and investors. As of 11 November, there are 1,72,251 BRISE holders, according to CoinCarp.
Is Bitgert legit?
Although there are several red flags, they do not necessarily indicate that Bitgert is a scam. Ultimately, the validity of the project should be determined by you. Make sure to do your own research before making any investment or trading decision. And never invest or trade with more money than you can afford to lose.
What makes Bitgert unique?
Bitgert claims it has no gas fees and a throughput of over 100,000 TPS. If these assertions are accurate, it indeed makes Bitgert unique.
Markets in this article
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Related topics
As an enthusiast deeply immersed in the cryptocurrency space, my expertise spans various aspects of blockchain technology, decentralized finance (DeFi), and the dynamics of different tokens and projects. I've closely followed the trends, developments, and challenges within the cryptocurrency ecosystem, making me well-equipped to shed light on the recent developments involving the FTX exchange, specifically its native token FTT, and the Bitgert (BRISE) coin.
The FTX exchange, facing insolvency, is indicative of the broader challenges witnessed in the crypto bear market. The market downturn has had a cascading effect, causing significant value drops across various cryptocurrencies, including the market leader, Bitcoin (BTC). The article highlights the founder and CEO, Sam Bankman-Fried's disclosure about the possibility of bankruptcy without a capital injection.
Now, shifting the focus to Bitgert (BRISE), the article provides insights into its blockchain-based crypto engineering organization built on the Binance Smart Chain (BSC). The Bitgert ecosystem revolves around its native blockchain, the Brise Chain, characterized by no gas fees and impressive transaction processing capabilities of up to 100,000 transactions per second (TPS). The BRISE Chain employs a proof-of-authority (PoA) architecture, supports smart contracts, and is compatible with the Ethereum Virtual Machine (EVM).
Bitgert's native token, BRISE, serves various purposes within the ecosystem. It facilitates transactions by paying gas fees for smart contract execution, staking, peer-to-peer payments, and collecting network transaction fees. The article delves into the functionality of BRISE and its compatibility with both Ethereum-based ERC-20 and Binance-based BEP-20 tokens.
The market performance of BRISE is presented through historical data, showcasing a remarkable 40,497% return on investment (ROI) since its debut. However, the token's price experienced significant volatility, with a drastic drop of over 99.99% from its all-time high in August. The article details various market sentiments and price movements, presenting a comprehensive overview of BRISE's journey.
The piece also touches upon recent developments and partnerships involving Bitgert, such as collaborations with Ivendpay, Math Wallet, and AmpleSwap. However, it raises concerns about Bitgert's high circulating supply, limited social media presence, lack of project updates, and potential issues with ownership structure, utility token, and auditing methods.
In conclusion, the article emphasizes the need for thorough research before considering investment in the BRISE coin, citing several red flags and uncertainties surrounding the project. It wisely advises readers to exercise caution and consult with licensed financial advisors before making any investment decisions. The FAQs provide additional information about Bitgert's maximum supply, founders, ownership, legitimacy, and unique features, encouraging a holistic understanding of the project.
