Bitcoin price on Ethereum BTC20 exploded 600% 48 hours after launch, with 10x gains imminent. As crypto investors start to take an interest in the trending currency, it is on its way to reaching a market capitalization of $100 million.
The BTC20 stake-to-earn token mirrors bitcoin tokenomics and is currently priced at $4.06, up more than 300% after being listed at $1; the price has already briefly touched $6 for a return of 600%, which is a benchmark for the short-term price target today.
At last count, 3,930,621 tokens out of the 6,050,000 in circulation have been staked, representing 65% of the circulating supply, according to the latest data from the BTC20 site's real-time dashboard.
The rest of the 21 million tokens are blocked for reward payout – the annual return percentage is currently 66.97%.
BTC20 simulates Bitcoin's 2011 block rewards, which were 50 BTC per block produced. BTC20 rewards accumulate every 10 minutes and can be claimed at least seven days after the first wager. Staking began last Wednesday at 3 p.m. UTC.
After a lunch day that saw the price of BTC20 establish a solid floor at $1, likely due to the stability its yield-bearing tokens provide, it rose yesterday and then exploded in a parabolic fashion.
Whales Buy BTC20, Target $1 Billion Market Cap.
Whales with full pockets enter the market. One such buyer, whose portfolio is valued at nearly $2 million, started taking a position in BTC20, currently at a modest $6,049.
These buyers will no doubt continue to enter the market on near-term declines, with the prospect of gains that could reach up to 100 times the $1 billion market capitalization.
The number of token holders increased to 3,922, 24-hour trading volume exceeded $3 million, and liquidity locked on Uniswap V2 reached $347,000.
On the Uniswap V3 (BTC20/SDEX) pair, where liquidity providers can charge higher fees than the 0.3% of the V2 pair, the liquidity pool has reached $369,000, and the 24-hour trading volume is $661,000.
Impressively, 87.89% of liquidity on Uniswap V2 has been locked, so there is no need to worry about the project being a rug pull.
On the contrary, BTC20 ($Bitcoin20) is gearing up to be the first Bitcoin derivative coin launch of the year, edging out BTC 2.0 and HPOS10I (which has the "BITCOIN" ticker on Uniswap).
BTC20 is on track for 10x gains before the first rewards are unlocked – more stakers will come on board
On the 4-hour price chart, the price trajectory indicates a 10x gain by the seventh trading day, Wednesday, August 16, when early stakers can unlock their tokens.
Market participants will watch this key milestone closely to see how token holders fare, given that most circulating supply is tied to staking.
However, to take full advantage of the return potential of the API, one needs to wager for 12 months. Considering that many people likely went into staking based on a long-term commitment to the project, it's fair to estimate that many will continue to hold on to their coins for profit. Passive income.
Of course, others will be concerned about capital preservation and want to take profits on their initial outlay while letting some of their tokens continue to earn.
Token holders who wish to continue staking simply leave their tokens in the intelligent staking contract, and the smart contract automatically accumulates rewards until the staking ends.
Here are other factors pushing the BTC20 price higher – Listing on CMC and CEX
If some are entirely uninterested in the issue, buying demand, supported by several factors, should largely compensate for this disinterest.
First, the attractiveness of the APY will attract more buyers to BTC20. If the total number of stakes and the amount staked decreases, the API will increase, attracting more passive investors to buy and bet on the token. Indeed, it indicates that it will introduce an easy-to-use "buy and stake" button next week.
Second, the most giant advertisement for a coin is its price history and prospects. In this regard, BTC20 will attract more and more buyers as the currency continues to be popular on the most popular crypto data sites.
As for data sites, BTC20 will soon be listed on major crypto sites Coinmarketcap and CoinGecko. At that point, hundreds of thousands of other market participants will learn about the coin's existence and its benefits and start buying it and adding it to their watchlists.
Which CEX will be the first to list BTC20? LBank, OKX, Binance?
A third factor is the prospect of a centralized stock exchange listing. Although the team claims that no listing plan is in the works, at least according to the communications on the Telegram group, the CEX still needs to list the coin on its own back.
Due to the fierce competition between CEXs, their teams keep a close eye on market developments to spot the coins that are on the rise and attract significant trading volume BTC20 is one such coin.
The trading volume on Uniswap stands at around $4 million for the last 24 hours. Now that the coin is popular on sites such as DEXTools, and will no doubt soon be listed on CMC and CG, volumes are likely to explode, and the price will resume its parabolic curve as new money pouring in, which does fail to elicit the Commission's approval.
The greater the trading volume and the number of token holders, the more likely significant CEXs, such as OKX and Binance, will list the token.
Marketing will kick into high gear to help the BTC20 price hit $10
Besides its solid tokenomics an
Cryptocurrency analyst and 310,000 YouTube subscriber Michael Wrubel once predicted that BTC20 will start mining millionaires. We should look forward to BTC20 officials beginning to work with even more prominent players in the coming days.
So far, the marketing has been perfect. BTC20's positioning in the market as "Bitcoin on Ethereum" is for everyone who hasn't been able to take advantage of Bitcoin's various rises since its inception, which is a lot of people.
Token holders can expect a growing digital marketing campaign in the cryptocurrency industry, targeting popular sites such as CMC, DexTools, and Dexscreener and banner ads on popular news sites.
Telegram alpha groups are also starting to stir, and expect the crypto Twittersphere to explode with mentions of BTC20, which will boost FOMO around the new token.
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