• Crypto prices are generally down, but Battle Infinity’s IBAT token has risen 150% in the past seven days.
• The surge is being driven by the announcement of a 50% token burn and news of an upcoming milestone for the platform’s fantasy sports game.
• IBAT has been trending as No.1 gainer on both centralized and decentralized exchanges.
Crypto Prices Dump But Battle Infinity’s IBAT Price Pumps
Crypto prices might be in a slump, but one project is proving that there can still be positive news amidst the bearish sentiment: fantasy sports-focused gaming platform Battle Infinity’s IBAT token has seen a remarkable 150% price increase over the last seven days.
What is Driving IBAT’s Price Pump?
The rally appears to be driven by a combination of three factors: the recent announcement that 50% of team tokens have been burnt; the forthcoming launch of their fantasy sports game; and anticipation around this year’s Cricket World Cup. The relative strength index (RSI) also shows no signs that traders’ enthusiasm for IBAT will wane any time soon.
IBAT Trending at No.1 Gainer Across Exchanges
IBAT has been making headlines as it continues to trend as No.1 gainer on both centralized exchanges like MEXC, and decentralized exchange trading and data site DEXTools . These kinds of rankings often serve to further bolster buying momentum behind such projects.
Battle Infinity Token Burn Details
Battle Infinity had allocated 10.5% (or 1 billion 500 million tokens) to its team, with these now being sent to dead addresses which can only receive but not send them – effectively removing them from circulation forever and boosting scarcity for all other holders. This move alone triggered a 100% pump on August 17th as soon as traders heard about it, sending the price from $0.000406 to $0.0008402 within minutes!
Upcoming Milestone Launch
As well as burning their supply, Battle Infinity also recently announced they’re nearing completion on their major milestone release – their fantasy sports game called ‘IBAT Premier League’. With this launch looming ever closer, investors seem keen to get involved before what could potentially prove to be another major price jump!