Here’s why Bio Protocol rallied over 70% today
The post Here’s why Bio Protocol rallied over 70% today appeared on BitcoinEthereumNews.com. BIO, the native token of the DeSci platform Bio Protocol, surged after the project expanded staking for BIO and other ecosystem tokens on the Ethereum mainnet. Summary BIO has hit a five-month high of $0.103. Staking for BIO and BioDAO tokens recently went live on the Ethereum mainnet. The token is nearing a potential double-bottom breakout on the daily chart. Bio Protocol (BIO) shot up as much as 71.6% to a five-month high of $0.103 on Aug. 7 before it backtracked some of its gains and settled at $0.084 as of press time. Its market cap stood at $164 million, up from $124 million seen yesterday. BIO’s surge occurred in a high-volume trading environment, with nearly $470 million worth of tokens changing hands, up more than 2,100% from the previous day. Why is BIO going up? BIO crypto rallied after Bio Protocol confirmed it had expanded staking for its BIO token and BioDAO tokens to the Ethereum mainnet. For the uninitiated, BIO functions as the native token of Bio Protocol, a decentralized science (DeSci) platform that funds and advances biotech research in areas such as longevity, women’s health, and synthetic biology through community-governed BioDAOs. When users stake BIO and related ecosystem tokens, they earn BioXP points. These points grant eligibility for the platform’s Ignition Sales, which offer early access to token launches from emerging projects within the Bio Protocol network. As of press time, over 100 million BIO tokens had been staked on Ethereum. The number of $BIO staked saw a 4X increase since staking went live on ETH Mainnet yesterday. Now over 100M BIO locked earning BioXP
The post Here’s why Bio Protocol rallied over 70% today appeared on BitcoinEthereumNews.com.
BIO, the native token of the DeSci platform Bio Protocol, surged after the project expanded staking for BIO and other ecosystem tokens on the Ethereum mainnet. Summary BIO has hit a five-month high of $0.103. Staking for BIO and BioDAO tokens recently went live on the Ethereum mainnet. The token is nearing a potential double-bottom breakout on the daily chart. Bio Protocol (BIO) shot up as much as 71.6% to a five-month high of $0.103 on Aug. 7 before it backtracked some of its gains and settled at $0.084 as of press time. Its market cap stood at $164 million, up from $124 million seen yesterday. BIO’s surge occurred in a high-volume trading environment, with nearly $470 million worth of tokens changing hands, up more than 2,100% from the previous day. Why is BIO going up? BIO crypto rallied after Bio Protocol confirmed it had expanded staking for its BIO token and BioDAO tokens to the Ethereum mainnet. For the uninitiated, BIO functions as the native token of Bio Protocol, a decentralized science (DeSci) platform that funds and advances biotech research in areas such as longevity, women’s health, and synthetic biology through community-governed BioDAOs. When users stake BIO and related ecosystem tokens, they earn BioXP points. These points grant eligibility for the platform’s Ignition Sales, which offer early access to token launches from emerging projects within the Bio Protocol network. As of press time, over 100 million BIO tokens had been staked on Ethereum. The number of $BIO staked saw a 4X increase since staking went live on ETH Mainnet yesterday. Now over 100M BIO locked earning BioXP
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