GIFA Token Surges Over 252% In 24 Hours

GIFA Token surpassed the 46,000 marks for the first time this month and had advanced more than 252% in the last 4 weeks, GIFX reported. GIF...

GIFA Token surpassed the 46,000 marks for the first time this month and had advanced more than 252% in the last 4 weeks, GIFX reported. GIFA Token increased by +4.07% in 24 hours. Thanks to its stable liquidity that hugely driven by the entry of more institutional investors and GIFA Holding Ltd.

I was never a fan of crypto, but for sure I will try GIFA Token!

GIFX has hit the crypto market, propelling its cryptocurrency high which was just launched the last year in October 2020. GIFA Token which has traded at $1.00 (USD) as launching price for most of its existence, rose from $3.45 at 10 p.m. Today, Friday it shot over $4.60 by just after 3:30 a.m. 

GIFX exchange screenshot

Major cryptos, like Bitcoin and Ethereum, were both up less than 10% on the day as of 7:30 p.m. Thursday.  Today Bitcoin price hits $37K highs as according to the data from Cointelegraph Markets and Tradingview showed BTC spiking to $37,000 as users began to notice that Elon Musk was now publicly advertising Bitcoin. 

The move comes amid major anticipation from investors that BTC will be the next asset to receive a boost, either from a figure like Musk or from lay consumers affiliated with the now notorious Reddit group r/Wallstreetbets. As Cointelegraph reported, Musk had previously singlehandedly pumped the price of several crypto assets. Musk has a chequered history when it comes to Bitcoin, with previous tweets making it impossible to tell if he owned or even liked the largest cryptocurrency.

The cryptocurrency has been around for a little over a decade, but it only began to rise in popularity among mainstream institutional investors last year. Crypto bulls have said that bitcoin is seen as a hedge against inflation, similar to gold. When you look at the GIFA Token and bitcoin rally that we have been seeing in the last couple of weeks, really, there are two big elements driving it. One is the continuous entry of institutional players that acquiring digital assets, accessively.

Bitcoin’s price resurgence last year was in part fueled by well-known Wall Street billionaires publicly backing the cryptocurrency. Analysts said their endorsement gave confidence to otherwise skeptical, mainstream investors. Investors such as Paul Tudor Jones and Stanley Druckenmiller have both put money in bitcoin and pointed out its potential as an inflation hedge.