The morning of 11 May 2022 has been, nonetheless, an absolute disaster. Bitcoin dropped down below $30,000 for the second time this week, and almost every other coin is in the red chart by now, all in just past 48 hours.
In this blog, we will be looking over the facts that why the Crypto market, along with its all coins, dropped down that much and what Innovation Factory is doing in these hard times for its users.
Fear & Greed
The Global Crypto Market cap is sitting at 1.21 trillion dollars or down, about an 11.5% decrease over the last couple of days. At this time, if we go at the Crypto Fear & Greed index, we are sitting at 12, which is definitely not good, and this is the lowest the index has ever been in the past year.
The significance behind the crypto fear & greed index just signifies the hesitancy of other investors in deciding to put additional money into the market. Whenever we see extreme fear happening within the market, we also witness a lot more liquidation happening where people try to sell off in order to avoid further pain and loss of their portfolio.
Now, if we all take a look at some of the charts within the market, well, everything is red; there is no green in sight. We are seeing red all across the board. There is just no easy way to put this; the market is in a massive massacre right now. We are seeing blood all over the table.
But, we have already seen dips multiple times before in the past, and every time we experience these types of dips, guess what follows? Pulling to the all-time high charts and many rallies followed by every dip. But that is all of the future. Let us talk about what Innovation Factory is doing in order to comfort its users in these times of bloodshed.
The firm Innovation Factory, with its brilliant-minded geniuses, is doing its best to comfort its users. Here are some of the best initiatives taken by this firm to make these times better for the people.
Top-notch projects launch
Despite all the instability in the market, the developers of the firm are not sitting idle infact; they are working day and night to deliver the projects in the roadmap, which other firms failed to do so in these times. Following are the projects going live in the upcoming days:
BBonds are the world’s first Cryptocurrency-based bonds. Its users can buy Crypto bonds by using Bficoins and get a chance to win great BTC prizes. The American Powerball lottery will be used by BBond. The more digits on your BBond match the lottery numbers, the more unbiased the draw is.
Bulleto is a smart contract that will serve as a platform for BFICoins to generate multi-level income. The project was previously released for the BFIC token, and due to its enormous success, Innovation Factory is relaunching Bulleto for BFICoins as well.
The world’s first digital commerce platform created by the Innovation factory allows its users to buy through a wide range of international brands. The company expanded its reach, being the first to use Bficoin as a payment method.
It is a big utility enhancer for BFIC. you can now obtain loans and credit cards to enjoy liquidity access to BFIC anywhere, anytime. Moreover, you can create an account free of cost and apply for your own debit card, virtual and physical Master card.
Layer 2 Blockchain Solution
To build a good blockchain ecosystem, we need a few things in the architecture to balance the needs of security, decentralization, and scalability. Layer 2 scaling solutions increase throughput without tampering with any of the original decentralization or security characteristics that are integral to the original blockchain.
Why Layer 2 solution is needed?
Essentially, BFICoin blockchain can do a massive 100,000 transactions per second. Sounds great right? But with the upcoming projects like Bulleto and BBond, the blockchain will be under pressure, and this will result in the speed of transactions.
With the launch of every upcoming project will increase the community of BFIC, and with the growth in the community, the transaction amounts will increase as well. So, the firm needs to enhance the transaction speed even before the growth in their community.
We have a matching example of Solana, their community increased, and it crashed two times because of the transaction amount, which was 400,000. To compete with the number of transactions this big, Innovation Factory has decided to develop layer two solutions.
With its upcoming projects, the firm is introducing real-time utilities like price bonds, debit/credit cards, and online stores; into the crypto world. All of the initiatives made by Innovation Factory will not only result in a better community, massive increase in price, but this will create new and vast opportunities in the world of Crypto.