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With Bitcoin dropping beneath the $30,000 level this week, traders are looking for alternative investments to hedge their portfolios in the short term.
A handful of alternative projects provide scope for massive growth, but it seems that Bitcoin investors are rushing to one project in particular that managed to raise $1 million in just 24 hours.
BTC20 recently crossed its soft cap limit after raising an additional $1 million in just one day, pushing the presale above $3 million.
With investors crowding into this project, find out everything you need to know about this golden opportunity that combines stake-to-earn with the brilliant Bitcoin block schedule.
Investors Flock to BTC20 as They Wait for BTC Recovery
Investors are flocking to the BTC20 presale as they wait for $BTC to recover back above $30,000 – evidenced by the fact it raised $1 million in 24 hours following the breakdown of $BTC consolidation beneath $30,000.
The flurry of investment demonstrates the increasing FOMO for $BTC20 – meaning its presale will likely sell out well ahead of schedule.
The project recently crossed the $3 million soft cap limit in fundraising and is now selling the remaining presale allocation to hit its $6 million hard cap.
BTC20 is a green ERC-20 version of Bitcoin built on the Ethereum blockchain that’s creating a groundbreaking stake-to-earn mechanism that experts believe will create a supply shock for the token and drive the value higher.
The project is rewinding the clock to April 2011, when $BTC was priced at $1 with a 6.05 million circulating supply.
Paying homage to this era, BTC20 is selling 6.05 million $BTC20 at a price of $1 – allowing investors to get in early in the upgraded version of Bitcoin at rock-bottom prices.
Sticking with the Bitcoin inspiration, $BTC20 will have a 21 million total supply, with the remaining supply being locked in the stake-to-earn contract to provide rewards for the next 120 years.
Intuitive Stake-to-Earn Mechanism Set to Create Supply Shock
BTC20 has a verified staking contract that creates a groundbreaking stake-to-earn mechanism that releases $BTC20 tokens in line with the original Bitcoin block rewards schedule.
Those staking their $BTC20 tokens can earn a percentage of the rewards through this intuitive proof-of-staking ecosystem. The more $BTC20 staked – the higher the rewards.
When the original Bitcoin blockchain confirms a new block, a number of $BTC20 tokens are released from the staking contract and distributed to stakers.
After the presale, the team will lock a minimum of 14.95 billion $BTC20 into the staking contract – meaning the entire supply will be reserved for the community.
The stake-to-earn ecosystem helps to foster a community-driven project where the collective actions of stakers drive the prosperity of all participants.
Through staking, investors will earn from the $BTC20 rewards and the increasing value of $BTC20 simultaneously.
You see, users lock their tokens into the staking contract to earn rewards. The tokens staked are removed from the open market and cannot be sold when locked into staking.
This creates an environment where there will be a supply shortage on the open market for newcomers to buy $BTC20 after the presale.
Experts believe this will cause the price of $BTC20 to surge by more than 20x as traders will struggle to buy tokens at the $1 presale price.
Overall, this intuitive staking ecosystem incentivizes long-term participation and reinforces the community spirit behind the project.
Soft Cap Reached After $1 Million Floods into Fundraising in 24 Hours.
🔹Welcome to the world of $BTC20 – The Revolutionary Staking Token 🚀💫
🌐A groundbreaking PoS #Crypto token built on #Ethereum!
🔥 We pay homage to the original #Bitcoin while introducing a passive income-staking mechanism that empowers our community of #Cryptoenthusiasts.💰 pic.twitter.com/gB18L4awfR
— BTC20 (@BTC20Token) July 18, 2023
The presale for $BTC20 is split into two parts. The first phase sold 3 million $BTC20 tokens at $1 each to hit a $3 million soft cap.
The recent flurry of investment as BTC investors searched for better alternatives has caused $BTC20 to hit its soft cap – meaning the project will definitely launch in the coming weeks.
Now, the BTC20 presale will sell an additional 3.05 million $BTC20 to hit the $6.05 million hard cap.
The fundraising is designed to lay the foundation for further development, marketing, and strategic partnerships to grow the ecosystem.
Overall, it’s unsurprising to see the BTC20 presale selling so fast. The groundbreaking stake-to-earn mechanism creates ideal tokenomics for investors, helping them to earn substantial gains, with the majority of $BTC20 being locked away for staking.
With less than half of the presale supply remaining, investors will need to be quick to get positioned at the $1 price or face the parabolic price surge once $BTC20 hits exchanges and buy at higher prices.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
