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MUBI (Multibit) Token Price & Latest Live Chart

2024-01-12 16:18:50

0.098683 USDT

Discover the latest MUBI price with FameEX's MUBI/USD Price Index and Live Chart. Keep up-to-date with the current market value and 24-hour changes, as well as delve into Multibit's price history. Start tracking MUBI price today!

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What is MUBI (Multibit)?

MUBI, short for MultiBit, is a pioneering platform in the cryptocurrency domain, specifically designed to bridge two of the most significant blockchain networks: the Binance Smart Chain (BSC) and the Ethereum network. This integration has set a new standard in the realm of cross-chain interactions by enabling seamless transfers between BRC-20 and ERC-20 tokens. MUBI focuses on increasing the liquidity and accessibility of BRC and ERC tokens. By providing a dual-sided bridge, MUBI facilitates the easy movement of tokens across different networks, thereby enhancing cross-chain interoperability. This feature is crucial for the broader adoption and utility of blockchain technology, as it allows for more fluid and efficient token exchanges across diverse blockchain ecosystems.

MUBI has been instrumental in transforming the landscape of cryptocurrency exchanges. It eliminates the need for intermediaries, making token transfers more transparent, fast, and reliable. Through its innovative approach, MUBI addresses several challenges in the crypto world, such as reducing transaction costs and delays associated with traditional cross-chain solutions. Therefore, MUBI stands as a game-changer in the crypto space, bridging the gap between two of the most influential blockchains. Its contribution to enhancing liquidity, interoperability, and user experience in the crypto market is significant, positioning it as a pivotal tool for users and developers alike in the blockchain community.

How does MUBI (Multibit) work?

MUBI operates by enabling users to transfer BRC20 tokens to a specific address, signifying the intent to bridge these tokens onto the Ethereum Virtual Machine (EVM) network. Once the transfer is confirmed, the system initiates a minting process on the EVM network, creating an equivalent number of ERC20 tokens.

The process between BRC-20 to ERC-20 token, source:

Users simply need to transfer their BRC-20 tokens to a special BRC-20 address. Once the transfer is verified, these tokens can be minted on the EVM network. The MultiBit protocol will then periodically retrieve tokens from this special BRC-20 address and securely transfer them to a unified cryptocurrency cold wallet.

・Dual-Sided Bridge Functionality

The dual-sided bridge functionality of MUBI is a standout feature. It allows for a two-way transfer from the Bitcoin network to the Ethereum network and vice versa. This bidirectional capability ensures continuous liquidity and accessibility of tokens across these networks. Additionally, MultiBit’s dual-sided bridging feature facilitates token transfers from the EVM network back to the Bitcoin network. When users withdraw tokens, MultiBit destroys an equivalent amount of tokens on the EVM chain and transfers the corresponding value from the secure cold wallet to the user’s account. Beyond bridging to the Ethereum and BNB networks, MultiBit also supports token transfers to the Polygon and Arbitrum networks.

・Promoting Cross-Chain Interoperability

MUBI's bridging capabilities significantly promote cross-chain interoperability. It enables users to effortlessly move tokens between the Bitcoin and Ethereum networks in a secure environment, thereby enhancing the overall utility and efficiency of blockchain technology.

・User Experience and Security

MUBI prioritizes a secure and user-friendly experience. The platform ensures the integrity and reliability of the token transfer process, catering to users who seek to bridge their assets across different blockchain ecosystems without compromising on safety.

MUBI (Multibit) market price & tokenomics

The MUBI has increased in value by as much as 1140% since its launch, positioning it as a potentially significant ERC-20 token following the hype of Ordinals (ORDI) coin. 

MUBI, MultiBit's native token, launched in November 2023. The MUBI, a BRC-20 token, has recently gained value, garnering significant attention in the cryptocurrency market. There are two main uses for MUBI:

・Governance: Holders of MUBI tokens are granted governance rights within the MultiBit platform. They can participate in decision-making processes, including voting on proposed platform upgrades, new token introductions, adjustments to fee structures, and other critical governance issues. This feature empowers the community to actively shape the future direction of MultiBit.

・Staking for Rewards: Users can stake MUBI tokens to earn rewards, either as ERC-20 or BRC-20 tokens, on the MultiBit platform. This staking mechanism allows participants to contribute to the platform’s liquidity and security while receiving additional token rewards in return. It offers an avenue for users to generate passive income proportional to their stake amount.

The total supply of MUBI is 1 billion, with 950 million tokens currently in circulation. The development team proposes an initial Fully Diluted Valuation (FDV) of 400,000 USDT at the time of the token's issuance. The distribution of tokens is as follows:

  • 11.25% of the tokens, offered to influencers’ whitelist offerings at the same price as the public offering

  • 78.75% of the token supply available for public sale

  • 5% allocated to Decentralized Exchange (DEX) liquidity, and locked in

  • 5% allocated to the team, locked in for six months, and then released incrementally over a period of two years

As of now, MUBI (Multibit) is ranked #294 by CoinMarketCap with market capitalization of $128,824,772 USD. The current circulating supply of MUBI coins is 950,000,000.

Why do you invest in MUBI (Multibit)?

Investing in MUBI can be an attractive option for several reasons. Firstly, the platform's innovative bridging technology addresses a critical need in the cryptocurrency market by facilitating seamless cross-network transfers. This unique capability sets MUBI apart in the blockchain space, offering a novel and practical solution to the challenges of interoperability and liquidity. The ability to easily move assets across major blockchain networks like BSC and Ethereum not only enhances user experience but also opens up new possibilities for token utility and applications.

Moreover, the potential market growth for platforms like MUBI is significant. As the cryptocurrency sector continues to evolve, the demand for efficient cross-chain solutions is expected to rise. MUBI, being at the forefront of this innovation, is well-positioned to capitalize on this growing demand. The platform's emphasis on reducing transaction costs and delays further adds to its appeal, potentially attracting a larger user base. This increase in users and use cases could lead to greater demand for MUBI's services and, by extension, its token, making it a compelling option for investors looking to diversify their portfolios in the burgeoning crypto market.

Is MUBI (Multibit) a good Investment?

Determining whether MUBI is a good investment requires a careful analysis of several factors. The world of cryptocurrency investments is inherently volatile and speculative, making it essential for potential investors to assess their risk tolerance and investment goals before committing capital. MUBI's role as a facilitator of cross-chain transactions places it in a niche yet increasingly important sector of the blockchain ecosystem. As such, its success is closely tied to the broader adoption and development of blockchain interoperability.

Investors should also conduct thorough due diligence, examining MUBI's market performance, developmental roadmap, and the overall stability and growth of the cryptocurrency market. It's important to consider the underlying technology's robustness, the team behind MUBI, and the platform's ability to adapt to the rapidly evolving blockchain landscape. While MUBI presents a unique investment opportunity within the crypto space, it should be approached with a balanced view of its potential profits and risks.

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