Bread (BRD) Price up 740% today after crypto wallet startup BRD was acquired by Coinbase

BRD formerly known arsenic Breadwallet is an open-source cryptocurrency bundle with a elemental and unafraid mode to store your bitcoin. Its inferior token, the BRD token, is going parabolic aft the quality that it was acquired by Coinbase.

BRD token terms was up by 740% by the clip of penning and it is gathering momentum each second.

BRD acquisition by Coinbase

Earlier contiguous BRD announced its acquisition by Coinbase to enactment with the speech to bring decentralization to much users globally.

BRD CEO Adam Traidman and co-founder Aaron Voisine said:

“Nothing volition alteration successful the BRD wallet app and arsenic always, your funds are harmless and secure. In the future, BRD wallet users volition person an optional migration way to self-custody with Coinbase Wallet.”

Breadwallet was launched arsenic an app successful 2014 to marque crypto custody much accessible to regular people. Recently, Bloomberg recognized Bitcoin arsenic 1 of the champion ostentation hedge assets astatine the moment.

Currently, the wallet is serving implicit 10 cardinal users globally with further features for holding BRD tokens wrong their wallet. BRD is simply a inferior token that is utilized to reward users that interact with the app. However, this token worth is wholly determined by the marketplace forces.

Why is the BRD token terms rising?

According to information from CoinmarketCap, BRD token terms surged much than 740% wrong hours of Coinbase acquisition news.

On Wednesday the CEO said that immoderate company’s squad members volition beryllium moving to Coinbase to proceed moving for crypto wallets and this volition assistance accelerate web3 adoption.

In 2020, BRD had made respective affirmative steps similar updating its wallet successful June it updated its wallet compatibility to let retention of Hedera Hashraph’s HBAR token.

In September the workplace partnered with Elliptic, Ciphertrace, unbound Tech, and Chainalysis to assistance its information integration level supply custody solutions.