By Ogechi Nnadi Mbama
Top cryptocurrency staking network, MyCointainer, will list TerraBit’s native token, CREDIT, before the CREDIT 2.0 swap.
TerraBit is gearing up ahead of an upcoming hard fork in August. The hard fork will bring significant changes to the cryptocurrency. Updates expected include masternodes, desktop mining, and DAO governance.
Also, a swap is scheduled for existing users as the cryptocurrency moves to CREDIT 2.0. Ahead of this swap, TerraBit has been increasing adoption and integration of the CREDIT token.
CREDIT will be listed on MyCointainer, a cryptocurrency wallet, and staking platform. CREDIT will join other currencies like BNB, WAVES, BAT, and BTC on the MyCointainer platform. This addition will allow MyCointainer users to store CREDIT and stake the token. Recently, other platforms have been adding support for CREDIT.
Bitforex and Catex are the latest to list CREDIT with a CREDIT/USDT trading pair available for traders. At the time of writing, CREDIT is trading with a 24hr trading volume of $40,970 and a market cap of $325,225. The coin has a maximum supply of over 70 billion coins.
CREDIT 2.0 And Possible Effects On Token Value
The number of coins in circulation will decrease drastically after the swap. The swap will exchange old CREDIT for newly minted at a ratio of 1000:1. This means that for every 1000 coins that exist now, only 1 will exist after the swap.
The TerraBit team is hopeful that the decrease in supply will cause an appreciation in price. The team expects the sharp decline in supply will leverage existing demand to create a dynamic that increases the value of coins.
Further, masternodes will require a collateral of 50,000 CREDIT, locking more funds away from active circulating supply.
TerraBit continues to provide cryptocurrency payment services for users in South Africa, Nigeria, and Venezuela. Users in these countries can buy cryptocurrencies directly with FIAT on the Terra mobile app.
Also, TerraBit allows users to earn passive income through web staking and masternodes after the hardfork.
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Originally by BitcoinAfrica