Cryptocurrencies are volatile and unpredictable, but some of them have shown remarkable resilience and potential in the face of market crashes and regulatory challenges.
In this article, we will explore two such cryptos that have been outperforming their peers and attracting investors’ attention: RSK Infrastructure Framework (RIF) and Unifi Protocol DAO (UNFI).
Table of Contents
What is RIF?
RIF is a utility token that powers the RSK Infrastructure Framework, a suite of open-source, decentralized tools and technologies that enable developers to build accessible and scalable DeFi products on top of Bitcoin. RIF aims to create a unified environment for innovation and collaboration, where Bitcoin can interact with other blockchains and protocols through a wrapperless cross-chain bridge (uBridge), a multi-chain automated market maker (uTrade), a decentralized arbitration system (DARBi), and a fully collateralized stablecoin ($UP).
RIF is the governance token for the RSK Infrastructure Framework DAO, which allows holders to propose and vote on referendums that affect the development and direction of the ecosystem. RIF also serves as a payment method for the services and fees within the network, such as gas, storage, name registration, oracle access, and more.
What is UNFI?
UNFI is the native token of Unifi Protocol DAO, a multi-chain DeFi platform that leverages a novel tokenomics model to reward users for providing liquidity and trading on its decentralized exchanges. Unifi Protocol DAO operates on seven blockchains: Binance Smart Chain, Ethereum, Tron, Harmony, Ontology, Icon, and IoTeX. Users can swap, stake, lend, and borrow tokens across these chains using Unifi’s products, such as uTrade (AMM), uLend (lending platform), uEarn (yield farming), and uNFT (non-fungible tokens).
UNFI is the governance token for Unifi Protocol DAO, which grants holders the right to participate in the decision-making process of the platform. UNFI also serves as a reward token for liquidity providers and traders, who can earn UNFI tokens by staking their LP tokens or trading volume tokens on uTrade. Additionally, UNFI can be used to pay for fees and access premium features on the platform.
Why are they breaking out?
Both RIF and UNFI have been showing impressive growth and performance in the past few months, despite the bearish sentiment and regulatory uncertainty in the crypto market. Here are some of the reasons why they are breaking out:
- RIF has been benefiting from its integration with Bitcoin, the most secure and dominant cryptocurrency in the world. By enabling Bitcoin to access DeFi services and interoperate with other blockchains, RIF has expanded its use cases and network effects. RIF has also been attracting developers and users with its low-cost, high-speed, and user-friendly solutions.
- UNFI has been gaining traction with its multi-chain approach, which allows users to access diverse and lucrative opportunities across different blockchains. By offering a seamless and interoperable experience, UNFI has reduced the friction and barriers for DeFi adoption. UNFI has also been rewarding its users with generous and sustainable incentives, creating a loyal and engaged community.
- Both RIF and UNFI have been demonstrating strong fundamentals and governance, with active development teams, transparent roadmaps, frequent updates, and responsive feedback mechanisms. Both projects have also been forming strategic partnerships and collaborations with other reputable projects and organizations in the crypto space, enhancing their credibility and visibility.
RIF Crypto Price Analysis
The price of RIF is $0.069309 USD with a 24-hour trading volume of $2,775,856 USD1. It has a circulating supply of 973.36 million RIF coins and a max supply of 1 billion RIF coins2. It is ranked #283 by market capitalization.
On Daily timeframe level the price action formed out falling wedge pattern level where the price action broke out Resistance Trendline we need to wait for the retest level so we can expect the further movements
Marked out the previous Buy Side Liquidities we can expect some movements after the successful retest above.
UNFI Crypto Price Analysis
The price of UNFI is $4.03 USD with a 24-hour trading volume of $7,842,592 USD3. It has a circulating supply of 5.51 million UNFI coins and a max supply of 10 million UNFI coins4. It is ranked #534 by market capitalization.
On Daily timeframe level the price action of $UNFI is filling out the FVG gap marked between the $4.968 to $4.283 level as well as grabbing out the Buy SIde liquidity
We can see some more movements towards after after Market Structure Shift.
Conclusion
RIF and UNFI are two breakout cryptos that have been defying the odds and delivering value to their users and investors. Both projects have innovative visions, solid fundamentals, active communities, and promising potentials. They are worth keeping an eye on as they continue to evolve and grow in the DeFi space.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
