Biconomy is one of the major movers of the day. The cryptocurrency had established its all-time high at the beginning of December at a price level of $21.87. It subsequently fell by more than 70% from its ATH and had stayed in the single-digit range ever since. However, bullish momentum appears to be picking up for the token once again. At the time of writing, the cryptocurrency stands at a price level of $5.70. The price has increased by more than 15% in the past twenty-four hours while the daily trading volume has also increased by 30%. The daily high and low stands at $6.29 and $4.78 respectively. The cryptocurrency stands at a market rank of #166. 

What is Biconomy?

Biconomy is geared towards the revolution of the internet, Web 3.0. It is essentially a multi-chain relayer protocol aimed at improving the onboarding as well as the transaction experience on decentralized applications. The infrastructure of the platform is designed to enable users to make transactions on blockchains without the need of any technical expertise or knowledge. 

As the cryptocurrency market surged to new heights during 2021, cryptocurrency adoption has been increasing at an incremental pace. However, there are still many bottlenecks in the market as the daunting process of investing in the crypto market may cause many potential investors to shy away from the market. One of the goals of the network is to smoothen out all of the hurdles that exist in the adoption of cryptocurrencies. The objective of Biconomy to make decentralized applications more convenient and easier to use is in line with its goal of boosting the adoption of cryptocurrencies. Through the processes put in place by the network, new entrants into the market can make transactions easily. 

Future outlook 

Biconomy regards itself to be the Web 3.0 genie. It handles gas, transaction management and bridges for users so they can maximize their gains from the market by making the most efficient transactions possible. As Web 3.0 is considered to be the future of the internet, the platform is at an advantage as it will gain through the success of the new internet. This gives the network a bullish future outlook. According to the estimates of Digital Coin Price, the cryptocurrency is expected to be operating at a price level of $9.44 in a year’s time while the five-year projection places it at $17.