More

    Unibright (UBT) price soars after DeFi staking and enterprise-level partnerships

    As Bitcoin (BTC) and Etheruem (ETH)  gain legitimacy in top financial circles that will eventually help digital currencies mainstream, projects that offer enterprise-level blockchain solutions are also gaining attention from the corporate sector and investing class.Sold as one of the next technological breakthroughs that will revolutionize the current digital landscape and usher in a new era of decentralization, businesses and corporations have already shown immense interest in how blockchain technology can be integrated into their operations to help save money and increase efficiency. One project that has a focus on enterprise-level blockchain solutions is Unibright (UBT), which has seen its price grow more than 350% in 2021, going from $0.39 on Jan. 1 to an all-time high of $1.72 on Feb. 19. UBT/USD 4-hour chart. Source: TradingViewThree reasons for the recent breakout in the price of Unibright (UBT) are the release of its enterprise solution Baseledger, big-name partnerships that have proven real-world use, and increasing trading volumes taking place as the result of DeFi integrations and tokens begin to be removed from circulation. Enterprise-level blockchain need privacyUnibright was originally developed with the goal of bringing blockchain technology and contracts to the business sector by offering enterprise-level solutions that take into consideration the privacy needs of companies that cannot have all of their operations conducted on a public ledger. The project is part of Baseline Protocol, an open-source initiative that is designed to connect traditional systems together and notarize data on public mainnets like Ethereum (ETH). This is done by combining advances in cryptography and messaging with blockchain in order to deliver secure and private business processes at a low cost.On Feb. 25, Unibright released a whitepaper for Baseledger, which is described as offering “a public, council-governed blockchain” that utilizes a proof-of-stake consensus mechanism that “enables low and fixed costs, high and guaranteed performance, data privacy compliance, multi-chain-coordination and off-chain integration by design.”According to the project’s website, enterprises will use UBT tokens to access blockchain-based business integration products and workers will be able to stake the token in order to earn rewards for doing work on the network, such as node operation and deployment. Partnerships point toward growing demandUnibright’s recent partnerships and integrations have also been a source of optimism as the project has big-name companies like Coca-Cola now looking to integrate blockchain solutions into their vast supply chains. On Feb. 23 it was announced that CONA services signed a partnership with Salesforce for real-time tracking. CONA Services provides IT services for all Coca-Cola suppliers and bottlers, and was also revealed to be partnered with Unibright in August 2020 in an effort to develop enterprise blockchain applications that created a “Coca-Cola Bottling Harbor.”At the most recent earnings call for Coca-Cola, chairman and CEO James Quincey detailed how their bottling investment group helped to further improve operating margin performance. Integrations with companies like Salesforce and Coca-Cola are a foothold into gaining access to a wider market as more companies learn how blockchain implementation can help in reducing operating costs and improving efficiency. Record trading volume and DeFi exposureTrading volume for UBT surged from an average of $3 million per day to more than $18 million on Feb. 19 as its price established a new all-time high when the first teaser about the upcoming release of the Baseledger whitepaper was announced. Following the initial surge, trading volume pulled back to a daily average of $5 million but this is noticeably higher than the prior weeks.UBT has also benefited from integrations with popular decentralized exchanges such as Uniswap and it was most recently added to QuickSwap exchange, a layer-2 DEX built on Polygon (MATIC).UBT rallied by 40% after the QuickSwap listing on Feb. 28 and now that an increasing number of tokens are being removed from circulation and locked into DeFi liquidity pools, investors expect the price to rise higher.

    Related articles

    Comments

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Share article

    Latest articles

    Newsletter

    Subscribe to stay updated.

    bitcoin
    Bitcoin (BTC) $ 41,459.00
    ethereum
    Ethereum (ETH) $ 2,581.80
    tether
    Tether (USDT) $ 0.996859
    binance-coin
    Binance Coin (BNB) $ 338.70
    cardano
    Cardano (ADA) $ 1.35
    xrp
    XRP (XRP) $ 0.755202
    usd-coin
    USD Coin (USDC) $ 0.998734
    dogecoin
    Dogecoin (DOGE) $ 0.207333
    polkadot
    Polkadot (DOT) $ 17.99
    binance-usd
    Binance USD (BUSD) $ 0.998491
    uniswap
    Uniswap (UNI) $ 22.35
    bitcoin-cash
    Bitcoin Cash (BCH) $ 545.40
    chainlink
    Chainlink (LINK) $ 22.61
    litecoin
    Litecoin (LTC) $ 145.54
    solana
    Solana (SOL) $ 35.08
    wrapped-bitcoin
    Wrapped Bitcoin (WBTC) $ 41,467.00
    matic-network
    Polygon (MATIC) $ 1.08
    stellar
    Stellar (XLM) $ 0.286312
    ethereum-classic
    Ethereum Classic (ETC) $ 51.94
    theta-token
    Theta Network (THETA) $ 6.06
    vechain
    VeChain (VET) $ 0.089299
    internet-computer
    Internet Computer (ICP) $ 42.21
    dai
    Dai (DAI) $ 0.999252
    okb
    OKB (OKB) $ 19.66
    filecoin
    Filecoin (FIL) $ 55.23
    compound-usd-coin
    cUSDC (CUSDC) $ 0.022065
    terra-luna
    Terra (LUNA) $ 11.31
    tron
    TRON (TRX) $ 0.065351
    cdai
    cDAI (CDAI) $ 0.021526
    monero
    Monero (XMR) $ 240.93
    aave
    Aave (AAVE) $ 326.27
    eos
    EOS (EOS) $ 4.08
    compound-ether
    cETH (CETH) $ 51.82
    ftx-token
    FTX Token (FTT) $ 35.04
    cosmos
    Cosmos (ATOM) $ 12.95
    amp-token
    Amp (AMP) $ 0.070923
    pancakeswap-token
    PancakeSwap (CAKE) $ 16.43
    the-graph
    The Graph (GRT) $ 0.696454
    crypto-com-chain
    Crypto.com Coin (CRO) $ 0.128356
    shiba-inu
    Shiba Inu (SHIB) $ 0.000006
    neo
    NEO (NEO) $ 43.69
    leo-token
    LEO Token (LEO) $ 3.03
    algorand
    Algorand (ALGO) $ 0.855713
    bitcoin-sv
    Bitcoin SV (BSV) $ 143.64
    maker
    Maker (MKR) $ 2,991.12
    klay-token
    Klaytn (KLAY) $ 1.05
    celsius-degree-token
    Celsius Network (CEL) $ 6.15
    tezos
    Tezos (XTZ) $ 3.08
    iota
    IOTA (MIOTA) $ 0.899841
    avalanche-2
    Avalanche (AVAX) $ 13.55