BITCI, the local token of the crypto exchange Bitci, which has an important position in the Turkish crypto money market and has managed to make its name known globally, showed an eye-catching performance after the developments regarding the stock market and altcoin project and delighted its investors.
Bitci accelerates its steps in the crypto market
cryptocoin.comAs you follow, last week, the Turkish crypto exchange Bitci made an important decision regarding the FAN tokens traded on the exchange. Bitci CEO Ahmet Onur Yeygün submitted the proposal to end the FAN Token /BITCI parity to the votes of the stock market users. When the aforementioned offer was over 70% in favor of the delist, Bitci announced that the BITCI parity was closed as of 16.02.2023. However, he stated that transactions will continue in FAN Token / TL parity so that customers do not suffer.
This decision of Bitci was evaluated positively by the vast majority of users. It is considered that this decision is largely behind the pump of BITCI, the local token of the stock market, in the last days.
However, the cryptocurrency exchange continues to progress in listing. Bitci announced on February 17 that it added JASMY/TRY, GAL/TRY, VRA/TRY parities to its list. In addition, on February 18, it opened MASK/TRY, ACH/TRY, ATA/TRY parities to users. Thus, Bitci has shown that its customers are on the way to expand their trading opportunities in Turkish Lira parity.
Altcoin announces token burning and airdorp events
After the exchange terminated the transactions in the FAN Token / BITCI parity, how BITCI will affect the use cases, the performance of the token came to the fore. Bitci CEO Ahmet Onur Yeygün told users who expressed their reservations about this issue that the stock market plans to take various steps in this regard. Yeygün gave information about the exchange’s token burning and airdrop incentives in her posts yesterday. Within the scope of token burning, Yeygün made the following statement:
Dear friends. We made a new burn for BITCI. We promised this as well. Below you can see the number of burns according to the new prices. Also, when this planning is finished, we will switch to a new model. We will do periodic burning from circulation every 3 months. Regardless of the price, burning will be done from circulation every 3 months. The amount of this burn will increase with the price multiplier, but there will definitely be a burn. I will also share the details with you.
Also, Ahmet Onur Yeygün talked about an airdrop event and shared the following statement:
BITCI investors will definitely receive airdrops from all the offerings made in the Bitci Exchange according to the number of tokens they hold. These airdrops will vary according to the number of BITCI designed and held specifically for the project. It will receive airdrops according to its rank.
Yeygün said that the old burning schedule was canceled and the new plan would be implemented. He also stated that burns will be one-time at each target price.
Altcoin price performance
All these developments have also expanded the following of the altcoin project. BITCI reached 54,402 followers and entered the top 500 on CoinMarketCap. Most importantly, the altcoin price performed impressively. It jumped more than 50% from $0.004766 to $0.006899 on the day. Despite a slight pullback at press time, the altcoin is trading at $0.006824, up about 40% on a daily basis.
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