Bitcoin finally went into a calm period of shock after experiencing the “Thousands of Great Sun Lines” on July 18. The price did not change much on the other day. Just when investors felt that the market was calm, the platform coins were suddenly rising. OKB started from $1.85 on July 18 and once rose to $2.65 today, a gain of 43.2%. HT is also not to be outdone. From $4 on July 18, it has risen all the way. Today it hit $4.73, a record high in a year. In the same period of time, BHEX platform currency BHT has doubled, and Gate platform GT has also increased significantly. What happened behind the platform coin outbreak?
Image Source: Public Domain Pictures
In fact, HT has been on an upward trend since 2019. From $1.08 in early January to $4.58 today, HT has achieved a 324% increase in 2019. The driving factor for the rise in these days was that Firecoin announced on July 18 that it would fully implement the ladder fee rate and support the HT deduction fee.
Source: Firecoin Global Station
According to the information of the Firecoin Global Station, in the ladder rate, the more HTs the user holds, the more powerful the discount. For the average user, you can enjoy a minimum discount of 3.5%. At the same time, in the next quarter of HT destruction, part of the deduction of HT will also be destroyed from circulation.
Image source: Firecoin Global Station
Obviously, the more HTs a user holds, the more fee reductions they enjoy. Under the stimulation of this program, the willingness of users to hold HT is strengthened, that is, the market demand is increasing. Moreover, since it is necessary to reach a certain amount to enjoy the discount of the file, the user's position also reduces the actual circulation of HT in the market. Under the mechanism of the repurchase of fire coins every quarter, HT is deflation, demand is increasing, and the actual liquidity is reduced, which is bound to pull the price of HT.
On the other hand, FastTrack, the fast-currency channel project of Firecoin, brought good benefits to HT. At the same time, it also brought good news to the two platform coins of GT and BHT. The Firecoin Global Station announced today (22nd) that the fourth phase of the FastTrack participation project is two platform coins GT and BHT. Every time the FastTrack is voted on, the fire coins will be destroyed by HT. This time is no exception. There are about $500,000 worth of HT destroyed. For GT and BHT, regardless of the result of voting PK, two coins will be put on the fire currency global station, nothing more than a few days, a few days later. It’s going to be on the fire, and GT and BHT will naturally go up.
In fact, friends who pay close attention to GT and BHT have discovered clues a few days ago. On July 18, the two major currencies have started to rise. The GT was slightly "stubborn", rising from $0.795 on July 18 to $0.9433 in the dip, an increase of 18.65%. BHT was a sharp increase from the US$0.40 on July 18th to US$0.101, up more than 150%.
Interestingly, a recent screenshot of the GT group, "Gate.io CPO wine" said that GT will take 20% of the income for monthly repurchase and destruction, starting the day after tomorrow. However, this "good" has been rumored by the real wine.
HT keeps rising, OKB is not to be outdone. However, compared to HT, GT, and BHT, there are clear positive news to drive the rise, and OKB seems to have no special action recently. After the IEO boom, the OKB, which was once a "downturn", suddenly broke out and made many investors somewhat surprised.
In this regard, Xu Kun, vice president of OK strategy, believes that OKB is rising normally.
"(OKB rose) logic has two: First, OK's strategic layout is more clear, business logic is also more clear, supporting the fundamentals of OK; second, long-term stagflation is bound to bring rebound."
From the beginning of the year, the $5 all the way to the highest of about $40, BNB grabbed the eye in the first half of 2019. Can many platform coins be used in the second half of the year? We will wait and see.