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The Bitgert (BRISE) cryptocurrency soared in value in the second half of August, as the development team announced plans to launch a decentralised operating system. Several cryptocurrency exchange listings have followed in September, although the BRISE price has retreated in line with bearish sentiment on the broader markets.
What is the BRISE token and how does it work? How many BRISE tokens are there in circulation?
If you’re considering investing in the Bitgert crypto project, it’s important to understand who the biggest BRISE coin holders (known as whales) are, as their trading activity can influence the price. That, in turn, can affect the value of your investment. In this article, we take a look at the circulating supply of BRISE tokens.
What is Bitgert’s BRISE coin?
Bitgert bills itself as a “crypto engineering organisation”. It has built the high-speed Bitgert blockchain, which can process more than 100,000 transactions per second (TPS) but charges negligible gas fees.
Gas fees, which miners and stakers charge to process transactions, can run into the hundreds of dollars on blockchains like Ethereum. On Bitgert fees are as low as $0.00000001 per transaction
Bitgert was initially launched on the Binance blockchain in July 2021 and used Binance’s native BNB coin to pay rewards to holders of the bitrise token. The BRC20 blockchain launched in February 2022, with BRISE as its native coin.
Bitgert’s anonymous development team is building a scalable ecosystem with projects spanning decentralised applications (dApps) including decentralised finance (DeFi), non-fungible tokens (NFTs) and Web3.
The ecosystem includes Bitgert Audit for blockchain security, the BRISE Swap decentralised exchange (DEX), the multicurrency BRISE dApp Wallet and staking. There is a blockchain bridge in development to enable users to transfer assets from the BNB blockchain to the Bitgert blockchain.
The bitrise coin price has outperformed most other cryptocurrencies in 2022, soaring by 82.7% since the start of the year while the likes of bitcoin and ether have shed around 58.5% and 61% respectively.
BRISE soared by 232% in the second half of August to $0.000001181, as investors responded to Bitgert news including the potential for the token to be listed on major crypto exchanges Coinbase and Binance.
On 22 August, Bitgert announced its plan to develop an operating system.
⚡️ MEGA ANN: Bitgert to develop it's own first ever decentralized operating system, That is focussed on user privacy, security, speed, stability, and accessibility
— Bitgert - $BRISE (@bitgertbrise) August 22, 2022
Stay tuned..#BRISE #BITGERT pic.twitter.com/KBCiTcubDm
BRISE staking on Bitgert Chain went live on 13 September following an alpha testing phase launched on 7 September.
Bitgert announced listings on several Tier 2 and 3 crypto exchanges, such as Citex and Catex on 15 September, Phemex on 14 September and BitWell on 13 September, with Coinstore to come. The Biconomy exchange will list BRISE on 20 September.
BitKeep announced on 15 September that it has added Bitgert to its list of supported mainnets, enabling users to store and swap BRC20 tokens in their Bitkeep wallet and giving them “a convenient means for token transaction, DApp ecosystem participation and more”.
The developments and the sharp price rally have attracted cryptocurrency whales looking for staking rewards and investment returns.
How many BRISE tokens are there now and who owns the most? Let’s go through a breakdown of the Bitgert coin’s ownership.
What is BRISE coin’s circulating supply?
How many BRISE tokens are there? BRISE has a maximum supply limit of 1 quadrillion tokens. There were 395.69 trillion BRISE tokens in circulation at the time of writing on 16 September, according to data compiled by CoinMarketCap. This gave BRISE a market capitalisation of $247m, ranking it as the world’s 225th largest cryptocurrency by value.
Smart contracts on the Bitgert chain include a buyback mechanism, so that each BRISE transaction incurs a 12% processing fee. Of that 12%, 5% is used to buy back and burn tokens from the liquidity pool, 4% is used for staking rewards and 3% is used for marketing. This automated liquidity control aims to reduce the number of BRISE tokens in circulation and support the price over time.
Data compiled by cryptocurrency wallet tracker CryptEye showed that a total of 57.294% of the BRISE supply has been burned since 19 May 2022, including 49.6bn coins worth $29.7m in the past three months.
Who owns the most BRISE?
How many bitgert are there in the wallets of the biggest whales?
There were 167,203 holders of the bitrise token at the time of writing, up by 9% in the past three months. There were around 149,000 BRISE holders in late May.
The largest BRISE wallet is a “special null address that is currently being used to burn $BRISE coins, this address is not created by the Bitgert development team. It is part of blockchain mainnet and is used to burn other coins as well,” according to CryptEye. The wallet accounts for the 572.94 trillion BRISE coins, accounting for 57.294% of the total circulating supply, that have been burned so far.
So, what about the remaining 427.06 trillion coins, 42.706% of supply? The second largest wallet, which is on Binance, holds more than 78.5 trillion BRISE coins, valued at around $48.85m at the current bitgert price. The coins account for around 18% of circulating supply.
The third largest wallet holds 22.4 trillion coins, accounting for 5.25% of circulating supply, while the next two largest wallets each hold more than 17trn coins.
Why is the ownership concentration among whales – the wallet addresses with the largest crypto holdings – important for retail investors to know?
Large BRISE coin holders can have a substantial influence over the price if they sell their holdings, increasing supply on the market, or make large purchases, reducing supply. That can in turn affect the value of your investment.
However, ownership distribution of a cryptocurrency is only a small part of the picture and should not be the main reason for your decision to invest.
Whether BRISE is a good investment for you will depend on your investing goals, trading strategy, risk tolerance, and the size of your portfolio. It is essential that you do your own research before making any investment or trading decision. And never invest or trade money you cannot afford to lose.
FAQs
How much is Bitgert worth?
Bitgert’s BRISE coin was trading around $0.0000006 at the time of writing, giving it a market capitalisation of $247m and ranking it as the 225th largest cryptocurrency by value.
When was BRISE coin launched?
BRISE coin was launched in July 2021, initially on the Binance blockchain. Bitgert launched its own blockchain in early 2022, with BRISE as its native coin.
What is the total supply of BRISE?
BRISE has a maximum supply limit of 1 quadrillion tokens. There were 395.69 trillion tokens in circulation at the time of writing on 16 September, according to data from CoinMarketCap.
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