Bitgert price erased most of the gains it made in August in September. BRISE, the platform’s native token, slipped to a low of $0.00000046 in September, which was about 65% below the highest level in August. According to CoinMarketCap, Bitgert has a market cap of over $223 million.
Why did BRISE retreat?
Bitgert is an upcoming blockchain project that aims to become the best alternative to popular smart contract providers like Ethereum, Cardano, and Solana. Its key benefits are that Bitgert is significantly faster than its competitors and is much cheaper to operate.
On speed, Bitgert can handle more than 100k transactions per second. This is a high speed considering that giant platforms like Visa and Mastercard process less than 30k transactions per second. At the same time, Bitgert has near zero gas fees. This means that it millions of transactions cost less than $5.
Bitgert price did well in August as the ecosystem expanded and after the developers announced plans to launch a new operating system. During the month, the total value locked (TVL) of its ecosystem rose to more than $11 million, helped by Spynx.
In September, however, the situation turned around, with the TVL crashing to less than $6 million. Sphynx’s TVL has dropped by more than 47% in the past 30 days while that of IcecreamSwap dropped by more than 28%.
⚡️ Partnership Ann: @CryptoRubic to integrate Bitgert chain!
— Bitgert – $BRISE (@bitgertbrise) September 22, 2022
Bitgert had several important announcements in September. For example, Huobi Global listed BRISE, which is a major thing considering that Huobi is one of the leading exchanges in the industry. As a result, Midas NFT and Bitgert announced that they had burned 12.4 billion BRISE.
Bitgert also launched a new influencer grant program as it seeks to grow its ecosystem. Further, Incentive and CryptoRubric integrated with Bitgert. All these are steps in the right direction as Bitgert aims to become a mainstream platform.
Bitgert price prediction
The four-hour chart shows that BRISE has been in an overall bearish trend in the past few weeks. In this period, it formed a descending channel that is shown in green. The coin also managed to move below the 25-day and 50-day moving averages.
The current price of $0.00000055 is also its lowest point on August 19. At the same time, the MACD and the Awesome Oscillator have continued moving downwards. Therefore, while the overall trend is bearish, a bullish breakout to $0.0000010 will likely happen in October.