The price of bitcoin (BTC) has risen sharply since the start of the year and especially days after the banking crisis in the United States. Specifically, bitcoin strengthened as the Silicon Valley Bank (SVB) went bankrupt in mid-March. On April 27, the First Republic Bank’s crisis rumors unfolded, driving bitcoin and crypto prices even higher.
On this basis, analysts expect a sharp recovery of crypto prices in the months to come. Already, Balaji Srinivasan, former chief technology officer (CTO) of Coinbase, a crypto exchange, posted on Twitter, saying:
“The current situation is similar to the 2008 financial crisis, but regulators allowed banks to hide their literal insolvency until one guy figured it out. As this situation worsens, the USD will continue to fall, and BTC prices will exceed $1m within 90 days.”
Although it is almost impossible for this scenario to pan out, many experts, including ARK Invest CEO Cathie Wood, remain bullish of what lies ahead.
Geoff Kendrick, head of digital asset research at Standard Chartered, said BTC could reach $100,000 by the end of 2024 and that “the winter of the cryptocurrency market is over.”
Which coins stand a chance in 2023?
There are also predictions that the current upward momentum will weaken if a new macroeconomic variable emerges, sparking a rally. Nonetheless, present movements suggest that the markets are ready to edge higher. Henrik Zeberg, a macroeconomist, claimed that the altcoin season is already here.
With this emerging, NvirWorld (NVIR) surpassed the likes of ripple (XRP), cryptogpt (GPT), and babydoge in April 2023, claiming the top spot in MEXC’s spot search volume. This trend has only accelerated with CNN, one of the world’s largest media outlets, introducing the global donation project of NvirWorld on April 27.
NvirWorld is a blockchain-focused company that creates and manages various blockchain platform services on the layer-3 mainnet, helping propel web3.
Currently, NvirWorld operates services such as a non-fungible token (NFT) marketplace, NvirMarket; decentralized finance (DeFi) platform, N-hub; a hybrid, decentralized exchange (DEX), INNODEX; and more. It is also preparing to launch a play-to-earn (P2E) game, SUGAR FLAVOR, and an online social casino game in Q2.
NvirWorld’s services are operated based on Ethereum and Solana blockchains. However, the layer-3 mainnet using a patented technology will be unveiled in Q4.
Through a burning mechanism NvirWorld’s native currency, NVIR, like the system used in Ethereum, a smart contracting platform; is burned as Gas fees. Its structure also continuously increases scarcity, making NVIR deflationary. NVIR is undervalued at spot rates, considering its developing ecosystem of products and reliance on patented technology.
Furthermore, what attracts more attention to NvirWorld is its patented technologies built before the mainnet launch.
NvirWorld strives tirelessly for corporate social responsibility (CSR) management to improve awareness of the blockchain industry from a macro perspective and expand its base. It has been conducting public interest activities such as NFT donation campaigns.
Recently NvirWorld signed an official contract with World Vision, one of the world’s largest non-governmental organizations (NGOs), to promote global donation projects.
What is the outlook for NvirWorld?
NvirWorld is differentiated from other blockchains looking at what it wants to bring to the table.
NvirWorld will launch various services, expanding its ecosystem before the mainnet launch in Q4. With a focus on potent markets such as NFTs, DeFi, DEX, P2E, and online social casinos, the project will likely scale its ecosystem, especially upon launching new platform services in Q2.
As NvirWorld’s ecosystem grows, there is a keen interest in how activating the new services in the weeks ahead and the mainnet launch may impact the NVIR, a coin using a “deflationary” structure where coins are burned on the mainnet based on activity.
Jin-sook Lee, the CEO of NvirWorld, said:
“We planned and executed the NvirWorld project to become a company that represents blockchain beyond Ethereum, and we are still moving forward to achieve our goal. The time has come for what we have built up to shine. That will be our turning point to grow into a company that leads the web3 era.”
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