Bitway Token Surges 100% on Staking Program and Binance Rewards

The Bitway token skyrocketed by over 100% in just one week, reaching as high as $0.44 on August 17th, according to data from CoinMarketCap.

The token's price increased due to the introduction of its incentivized decentralized traditional finance staking program on August 13th, which offered an 8% base annual percentage rate paid in Tether ($USDT), plus a further 4% return in platform points.

Binance Wallet's Bitway Booster Season 4 also added to the token's growth by offering over $200,000 in bonus $APR rewards, encouraging holders to deposit $BTW into supported products and bringing new attention to the token.

However, with a daily RSI of 76.85 and a wide distance between the market price and its moving averages, the token is considered overbought and vulnerable to profit-taking.