DeFi Altcoin Project Surges 130% in Seven Days, Far Outperforming Broader Crypto Market

An altcoin protocol designed to make it easy for developers to create decentralized applications (DApps) is ignoring the greater crypto market correction.

Bifrost (BFC) has surged by more than 130% in the last seven days after launching a new product in the decentralized finance (DeFi) sector.

Bifrost (BFC) bills itself as the world’s first blockchain middleware.

The platform aims to allow engineers to easily build on top of multiple blockchains and combine the best features of various protocols.

Bifrost’s vision is also centered on giving crypto users an easy way to access digital asset deposit and loan services through its lending platform called BIFI.

The platform’s price surge comes on the heels of Bifrost launching its “Biport Wallet” earlier this month.

The open-source, decentralized wallet connects to the Bitcoin, Ethereum, Binance Smart Chain, Avalanche, and Klaytn blockchain networks.

“Currently supporting cryptocurrencies across blockchain networks including Bitcoin, Ethereum, Binance Smart Chain, Avalanche, and Klaytn, Biport Wallet is designed from the ground up to offer the most seamless and secure multichain experience, democratizing access to the world of DeFi.”

The project’s native token, BFC, is trading at $0.579602 at time of writing and is up about 38% in the last 24-hours.

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