Crypto Prices Dump But Battle Infinity IBAT Gaming Coin Pumps 150% on Burn and App Milestone News
Monday, August 21, April 2023 – Crypto prices might be dumping, but fantasy sports-focused gaming platform Battle Infinity’s IBAT token has risen 150% in the past seven days.
Every day the IBAT price is making new near-term highs as momentum continues to build. At least three factors are thought to be driving the price higher.
The IBAT price continues to appreciate. At the time of writing, the IBAT token has risen 20% in the past 24 hours.
IBAT’s relative strength index (see chart below) shows continuing strong support from traders for the bullish uptrend. There is no sign of the current price uptrend being broken.
The surge is being driven by positive news flow surrounding the play-to-earn games platform.
Battle Infinity recently burnt some of its token supply and announced a major milestone on the road to the launch of its IBAT Premier League fantasy sports game.
With the fantasy league product launch in the works, IBAT is also likely to benefit from the hype as the Cricket World Cup looms.
IBAT 1-day price chart August 21, 2023, on MEXC exchange. (Courtesy TradingView)
IBAT has been trending at No.1 gainer on the MEXC centralized exchange and on top decentralized exchange trading and data site DEXTools, as shown below:
Firstly, the announcement on August 17 that 50% of the tokens allocated to the team had been burnt has certainly attracted buyers.
On the day the burn news was released, the IBAT price pumped 100%, rising from $0.000.406 to $0.0008402 in minutes.
Battle Infinity tokenomics saw 10.5% of the total token supply of 10 billion go to the team, so 1.5 billion tokens will be burnt.
Blockchain projects burn tokens by sending them to dead addresses which can only receive and cannot send, effectively removing the
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