Altcoins Talks - Cryptocurrency Forum

Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: electronicash on January 26, 2024, 09:18:25 PM

Title: SOVRYN a DeFi platform for bitcoin
Post by: electronicash on January 26, 2024, 09:18:25 PM

(https://i.imgur.com/eNTxV2i.jpeg)
ccto

this token rose up to more than 100% while last week it was just $0.49. i was fascinated by how it suddenly bounce up and create a buzz just yesterday.  but before this, its ATH was actually more than $70 back in 2021 so its crazy how they got so low.

it was said the recent rally was because the team introduces BitcoinOS aiming to solve smart contracts and scaling solutions. so would you trust this token to go beat its ATH in the next bull run? 

Quote from: https://www.globenewswire.com/news-release/2024/01/26/2818056/0/en/Sovryn-Introduces-BitcoinOS-Enabling-Developers-to-Build-on-Bitcoin.html
BitcoinOS is set to resolve any limitations posed by Rootstock's sidechain technology, paving the way for a more expansive and interconnected ecosystem. This development is not just a leap forward for Sovryn but a monumental stride for the entire crypto industry, offering developers an unprecedented chance to create and innovate directly on Bitcoin, the world's most secure blockchain.
Title: Re: SOVRYN a DeFi platform for bitcoin
Post by: TomPluz on January 28, 2024, 03:08:27 PM


I am happy to see a post about Sovryn here in the forum. I actually got some SOV as I participated in its bounty in the other forum years ago...and though I really got discouraged with the current price all because I think when i got them it reached a high $20 and right now it is more than $1 which is actually a recent big jump from its normally $.30-.50 price range. I just realized that it made something that made people notice of and this can be good news for all of us holders of SOV. Unlike some other dead projects, Sovryn really got professionals working behind the scene and I am sincerely hoping that there can come a time when it would revisit its last ATH.
Title: Re: SOVRYN a DeFi platform for bitcoin
Post by: MrSpasybo on January 28, 2024, 05:07:04 PM
Quote from: electronicash on January 26, 2024, 09:18:25 PM
this token rose up to more than 100% while last week it was just $0.49. i was fascinated by how it suddenly bounce up and create a buzz just yesterday.  but before this, its ATH was actually more than $70 back in 2021 so its crazy how they got so low.

it was said the recent rally was because the team introduces BitcoinOS aiming to solve smart contracts and scaling solutions. so would you trust this token to go beat its ATH in the next bull run?
x8 compared to the bottom, a really strong recovery. I hope SOV will return to Fibo 0.618 ~ $4.5.

(https://www.tradingview.com/x/CNte5NtW/)

In the future, I cannot predict whether this project will continue to grow strongly and bring the SOV token price to a new ATH. Temporarily, Layer-2 and Inscription on Bitcoin will receive more attention than Defi on Bitcoin. At least, the project Twitter (https://twitter.com/SovrynBTC) is still very active, showing that the team is still devoted to the platform.
Title: Re: SOVRYN a DeFi platform for bitcoin
Post by: electronicash on January 28, 2024, 08:49:17 PM

Quote from: TomPluz on January 28, 2024, 03:08:27 PM


I am happy to see a post about Sovryn here in the forum. I actually got some SOV as I participated in its bounty in the other forum years ago...and though I really got discouraged with the current price all because I think when i got them it reached a high $20 and right now it is more than $1 which is actually a recent big jump from its normally $.30-.50 price range. I just realized that it made something that made people notice of and this can be good news for all of us holders of SOV. Unlike some other dead projects, Sovryn really got professionals working behind the scene and I am sincerely hoping that there can come a time when it would revisit its last ATH.

among the defi project that was launched in 2020, this one survives.i heard it touches $80 as its ATH inside the Sovryn platform. but its true also that it must be very disappointing to see how low it had gone in the bear market. just imagine how much you could have bought back if you just sold and buy them at the right time.

it has a long way to go before it could reach to that $80 again but zooming out to the monthly chart, the price could actually go beyond that 0.78 ( $13)  looking at that fibo above. 

Title: Re: SOVRYN a DeFi platform for bitcoin
Post by: Evgenklm on February 02, 2024, 09:33:31 PM
The project started off very well; I remember the token price was quite high, but something went wrong. I never quite understood it. I believe many held SOV in their wallets, and after its depreciation, it was disappointing. I even participated in the IDO on the platform, where my investments also turned into something similar in value. I don't understand what happened to the project, even though they started off well.
Title: Re: SOVRYN a DeFi platform for bitcoin
Post by: joniboini on February 03, 2024, 07:32:53 AM
Quote from: Evgenklm on February 02, 2024, 09:33:31 PM
I even participated in the IDO on the platform, where my investments also turned into something similar in value. I don't understand what happened to the project, even though they started off well.
If there's one thing I learned from the crypto market, it is that hype or fast progress is necessary if you want your token price to survive the harsh bear market or simply people dumping your tokens. I've seen more than two projects with interesting ideas but failed to reflect it on their price because many people don't understand them. Some also argued that ideas that are easy to understand are necessary so that degens people will help you pump and maintain your token price. On the other hand adoption, as in being used by multiple projects is also key to pumping your token price. It wouldn't surprise me if a good project has a cheap token just because they don't market themselves heavily. Probably not a bad thing for the team if it allows them to build a good platform that will be used by many in the near future though.
Title: Re: SOVRYN a DeFi platform for bitcoin
Post by: bhadz on February 03, 2024, 08:28:19 AM
I have seen this project had a bounty on bitcointalk. I don't know that it's like this but when times like this that we're approaching to bitcoin's halving and likely having another bull run. Most projects like this that can be seen from the pit could go up higher dependent to the market's situation. With this, it can be the momentum of sov and the devs should focus and keep on working on its ecosystem to gain more traction.