BB (BounceBit) rose by 42.19% in 24 hours.

Gate News Bot news, on August 8, according to CoinMarketCap data, BB (BounceBit) is currently priced at 0.14 USD, up 42.19% in the last 24 hours, with a peak of 0.15 USD and a low of 0.09 USD. The current market capitalization is approximately 98.4 million USD, an increase of 29.2 million USD compared to yesterday.

BounceBit is a CeDeFi infrastructure project designed to provide high-yield products, re-staking use cases, integration of real-world assets ( RWA ), and CeDeFi as a service, making high-yield opportunities accessible to everyone. The BounceBit chain is a PoS Layer 1 network secured by both BTC and $BB, achieving full EVM compatibility by leveraging the security of Bitcoin. By designing liquidity custodial tokens ( LCTs ) and collaborating with CEFFU, users can earn actual interest from CeFi and utilize LCTs for re-staking and on-chain DeFi mining.

Important news about BB recently:

1️⃣ Strategic cooperation reached with Franklin Templeton BounceBit has established a strategic partnership with Wall Street asset management giant Franklin Templeton to jointly launch a new product, BB Prime. This product integrates Franklin Templeton's tokenized money market fund FOBXX, aiming to create a CeDeFi structured product that combines basis arbitrage with government bond yields. This collaboration signifies a deep integration of traditional finance and decentralized finance, with the potential to bring more institutional users and liquidity to BounceBit.

2️⃣ Launch a large-scale token buyback program BounceBit has announced the launch of the BB token buyback plan, supported by over $10 million in protocol revenue. This initiative aims to strengthen the long-term value support of the BB token, demonstrating the project team's confidence in the token's value. A large-scale buyback may reduce the circulating supply in the market, thus creating upward pressure on the BB price.

3️⃣ Enhanced On-Chain Treasury Yield Strategy By integrating with Franklin Templeton's tokenized money market fund FOBXX, BounceBit strengthens its on-chain treasury-backed yield strategy. This move combines traditional financial products with DeFi functionalities, providing users with more diversified and stable sources of yield, and is expected to attract more users to participate in the BounceBit ecosystem.

From a technical perspective, the price of BB token has risen significantly in the short term, which may be related to these positive fundamental news. However, investors should remain cautious and pay attention to the potential risk of a pullback.

This message is not intended as investment advice; investors should be aware of market volatility risks.