Bitrock Crypto and Network Analysis – Should You Buy $BITROCK?

Bitrock is an Ethereum IBFT 2.0 proof-of-authority (PoA) layer-2 side chain that made its debut in July 2023. The network features a high-speed, cost-effective, and scalable infrastructure with a two-second block time and near-zero gas fees. At the center of the Bitrock ecosystem, you’ll find the network’s native token: $BROCK. This native token has an ERC-20 version with the ticker BITROCK. Only two weeks after its launch, BITROCK had already experienced an impressive 4,200% rally. The big question is, will the Bitrock crypto token continue its upwards trajectory? Or is it already too late to invest in $BITROCK? If these questions pique your curiosity, join us in this article as we explore the ins and outs of the Bitrock ecosystem!

Updated 30th July 2023 at 21:29

To kick things off, we’ll start by exploring the Bitrock crypto network. From there, we’ll dive into the intricacies of the BROCK token. Lastly, we’ll show you how to make accurate BITROCK token predictions with Moralis Money – the industry’s leading on-chain trading indicator. 

If this sounds exciting, join us as we jump straight into the Bitrock crypto network! 

Exploring the Bitrock Crypto Network – What is Bitrock? 

Bitrock is an Ethereum IBFT 2.0 proof-of-authority (PoA) side chain. The network stealth-launched in July 2023 without private sales, pre-sales, or venture capitalists backing the project. After rigorous testing, Bitrock initially launched its live testnet. Only three days after, the mainnet followed. 

Graphic art illustration of the Bitrock crypto blockchain

Bitrock features a scalable, cost-effective, and high-speed infrastructure. On top of this, the network additionally plans on delivering a unique multi-chain swap or decentralized exchange (DEX). 

Furthermore, the multi-chain swap lets users trade cryptocurrencies directly on their native chains. They can do so without needing to use an exchange native to those currencies, pay gas fees in native tokens, or hold native tokens at all. Instead, all this is handled through Bitrock’s multi-chain DEX, and the gas is equalized from the other chains and paid in BROCK. 

What’s more, within the near future, users will be able to bridge their ERC-20 BITROCK token to native BROCK via an upcoming bridge developed in conjunction with Sphynx Labs. 

However, with a recent launch, the Bitrock network has a long way to go. According to their documentation, Bitrock plans to further develop the network to test the limits of what an Ethereum L2 solution can attain in convenience, speed, scalability, and cost-effectiveness! 

What is the Bitrock Blockchain? 

The Bitrock network is up and running with both its mainnet and testnet. It’s currently publicly accessible, and here’s an overview of Bitrock’s blockchain networks: 

Bitrock Blockchain Networks
Network Name:Bitrock MainnetBitrock Testnet
RPC URL:https://connect.bit-rock.io
Chain ID:71717771

So, what are the benefits of building on the Bitrock blockchain? 

  • Fast, Secure, and Scalable: The Bitrock blockchain is designed with scalability, security, and speed as three fundamental principles. Furthermore, Bitrock boasts an impressive two-second block time.
  • Low Gas Fees: For all BTR-20 transactions, gas fees are near-zero. 
  • EVM-Compatibility: The Bitrock blockchain is an EVM sidechain that supports all EVM applications and byte code. Consequently, it’s possible to leverage EVM tooling like MetaMask, Truffle, etc., when developing on Bitrock. 

Bitrock Crypto Roadmap 

The Bitrock crypto network has a clear roadmap consisting of five separate phases. At the time of writing, it has passed through the first initial three. Here’s an overview of the Bitrock crypto roadmap: 

  • Phase 1: Building the team, role assignment, socials setup, and testnet development. 
  • Phase 2: Testnet development, faucet, testnet launch, website launch, and socials live. 
  • Phase 3: Bitrock launch on Ethereum, staking launch, marketing campaign, and community building. 
  • Phase 4: Mainnet release, Twitter and Telegram AMAs, tier 1/2 CEX listings, DEX release, and marketing campaign two. 
  • Phase 5: Press releases, marketing articles published, partnerships with a marketing agency, and more. 

Now, with an overview of the Bitrock blockchain and its roadmap, let’s take a closer look at the network’s native token: $BROCK! 

What is the Bitrock Token (BROCK) 

BROCK is the native token of the Bitrock network and has an ERC-20 version with the ticker $BITROCK. BITROCK was minted on the 12th of July, 2023. Within only two weeks of its launch, the Bitrock crypto had already experienced a 4,200% price rally, giving early investors some impressive returns!

The ERC-20 BITROCK token is the focus of this article; however, as users will be able to bridge BITROCK to the network, converting them into native BROCK, we’ll explore this token and its utility further, as it can help understand the value of BITROCK.

price data, ratings, and alpha metrics of the Bitrock crypto token page from Moralis Money

BROCK Tokenomics 

The BROCK tokenomics is designed to facilitate a sustainable, viable, and fast-growing ecosystem. The token has a total supply of 100,000,000 and implements a 4% tax on both buy and sell transactions. 1% of this tax is distributed to the protocol’s liquidity; meanwhile, the remaining 3% is allocated toward further development of the network: 

Tokenomics distribution pie chart of the BROCK token

BROCK Use Cases 

The BROCK token has multiple use cases, and here are three prominent examples: 

  • Gas Fees: First and foremost, as the native currency of Bitrock, the BROCK token is used to pay for gas on the network. Consequently, it plays an essential and acts as the backbone for the entire Bitrock ecosystem. 
  • Staking: The Bitrock crypto network also features a staking protocol keeping the network safe and secure. The protocol has a lock-up period of only seven days, and, according to their website, staking BROCK can reward users with an impressive 90% annual percentage yield (APY). What’s more, Bitrock also features a flexible reward time and an emergency withdrawal tax of 25%.
  • Investment Opportunity: Lastly, as with any other cryptocurrency, the BROCK token also presents a potential investment opportunity.  

Nevertheless, with a better understanding of the native currency BROCK, let’s move our attention to the ERC-20 token BITROCK. In the next section, we’ll show you how to make a BITROCK token price analysis! 

BITROCK Token Price Analysis

From this point on, we’re going to be leveraging Moralis Money – the ultimate blockchain analytics tool. Moralis Money uses irrefutable blockchain data in real-time, delivering it to you in an understandable and actionable format. As such, with this tool, it has never been easier to make accurate price predictions and find up-and-coming crypto

Title: BITROCK Token Price Analysis by Moralis Money

We’ll use two methods to make a BITROCK token price analysis: technical analysis and blockchain analytics. Thanks to the power of Moralis Money, we can leverage this industry-leading crypto scanner for both! 

Note: In the preceding subsections, we’ll show you how to analyze the price of the Bitrock crypto using TA and blockchain analytics. However, these two methods are time-sensitive and rely on real-time data. And when you read this, the information is probably already outdated. As such, use Moralis Money and the methods yourself to determine whether or not the Bitrock crypto is worth investing in when you’re reading this. 

Technical Analysis (TA)

One way to analyze the price of the BITROCK token is to leverage TA. With TA, you can look at trading charts and several technical indicators to determine how the price of any digital asset will develop. 

One of the central features of Moralis Money is the various token pages. On these pages, you’ll find real-time trading carts where you can apply multiple technical indicators. To find these charts for the BITROCK crypto, head over to the $BITROCK token page

GIF image showing technical analysis of the Bitrock token

There are hundreds of technical indicators to look at, and we won’t be able to cover them all. Instead, we’ll give you a brief example of how you can spot potential crypto breakouts for the BITROCK token. 

Breakouts occur when the price of an asset either exceeds the resistance level or drops below the support level. You can add resistance and support levels to a price chart to spot these trends. This is what it can look like: 

Support and resistance levels of the Bitrock crypto coin

As the chart illustrates, the price of the BITROCK token has struggled to move above the $0.1534 threshold but remains over $0.1141. When the price moves above or below one of these levels, the BITROCK token might experience a breakout. As you can see in the image above, it looks like the token is about to move above the resistance level, which might indicate that a price increase is coming. 

However, this isn’t certain, and in a case like this, it might be better to wait to ensure that the breakout doesn’t result in a fakeout. If you’d like to learn more about this, check out our article on the #1 crypto breakout scanner.

Note: This is just an example of a technical indicator. It would result in a more detailed and comprehensive TA if you looked at some others as well.

Blockchain Analytics 

In combination with TA, another way to analyze the price of the BITROCK token is blockchain analytics. Blockchain analytics is the process of collecting, identifying, interpreting, and visualizing the publicly available info stored on a blockchain network. Doing so can give insight into user behavior, transactions, and other aspects of a network. This helps you understand historical and current events in real-time. 

The most challenging part of this approach is acquiring the data you need. This is why professional traders leverage blockchain analytics tools like Moralis Money

With Moralis Money’s various token pages, you get seamless access to a bunch of on-chain data that can help you determine the overall sentiment toward a cryptocurrency. For instance, this is what it looks like for the BITROCK token:

This is the BITROCK crypto’s token page, and it contains a bunch of data, including the current price, the price charts we used in the previous section, security information, and alpha metrics such as changes in net volume, holders, experienced buyers, and liquidity over time. 

With this information, you can base your investment decisions on irrefutable and dynamically updated data. For instance, if Net Volume increases, it indicates that buy pressure is growing. Or if Net Experienced Buyers are growing, it suggests that other experienced buyers are buying the token.

So, make sure to check out the $BITROCK token page yourself for the crypto’s current alpha metrics to make your own real-time assessment and price analysis!

Should You Buy the BITROCK Crypto Token? 

We can’t straight up tell you whether or not you should buy the BITROCK token. This has to do with the highly volatile nature of the crypto market. Even if we were to do a more comprehensive TA and use blockchain analytics to give you an answer today, it might not be the same tomorrow. As such, it would be disingenuous to give you a recommendation. Moreover, this is also why you should be careful to trust static lists of token recommendations. 

Instead, we urge you to do your own research and leverage both TA and blockchain analytics yourself to determine whether or not BITROCK is a suitable investment for you and your altcoin trading strategy. We especially recommend you use blockchain analytics as it’s one of the best and most reliable ways to make accurate crypto predictions since it’s based on irrefutable, real-time on-chain data! 

How to Buy the BITROCK Crypto Token 

If you decide you wish to get a bag of $BITROCK, you have several options. Just use the “Market” section on CoinGecko or CoinMarketCap page for that token. There, you’ll find a list of all CEXs and DEXs that offer the relevant training pair, including the trading volume. As such, you can easily pick a market that best suits your goals.

In case you decide to buy Bitrock tokens, use the above instructions to find a DEX or CEX that has a sufficient trading volume for that crypto.

If you go with a DEX, then you’ll need a hot Web3 wallet (e.g., MetaMask), which you’ll need to connect to the platform. Next, you’ll be able to select the trading pair and execute the on-chain transaction.

The process of using a CEX is arguably even simpler. After all, once you have your account ready and funded, it is rather straightforward: simply visit that token’s trading pair and execute the trade. However, keep in mind that whenever you use CEXs, you are not in full control of your cryptos. “Not your private key, not your crypto!”

Summary: Bitrock Crypto Analysis – Should You Buy the BITROCK Token?

In today’s article, we explored the Bitrock crypto network and the BROCK token. In doing so, we learned that the Bitrock blockchain is an Ethereum IBFT 2.0 proof-of-authority (PoA) side chain that debuted in July 2023. What’s more, we also found out that the BROCK native token also has an ERC-20 version with the ticker BITROCK. BITROCK was minted on the 12th of July, 2023, and in its two initial weeks, it already experienced an impressive 4,200% price rally! 

In addition to exploring the Bitrock network and the tokens, we also showed you how to conduct BITROCK price analysis using Moralis Money – the industry’s #1 on-chain indicator! 

Moralis Money leverages blockchain data in real-time, giving your true market alpha. And in this tutorial, we only scratched the surface of Moralis Money. With features such as Token Explorer, Token Alerts, and Token Shield, you can easily find the most undervalued crypto to maximize your gains.

If you’d like to learn more about Moralis Money and how these features work, check out our guide on three crypto trading tips

Also, if you’d like to maximize the value of Moralis Money, consider subscribing to the Moralis Money Pro plan. In doing so, you get access to a private Discord server, premium education, narrower timeframes for all metrics, and much more: 

If you’d like to try out Moralis Money, you can now use the interactive widget below. Apply a premade filter, or create a new one from scratch by picking and choosing between the metrics of your choice:
WRITTEN BY David Olsson
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