Thursday, August 10, 2023 – BTC20 price looks set to explode after more than 40% of its circulating supply has been locked in the staking contract during its first 17 hours of operation.
BTC20 will be launched on the decentralized exchange Uniswap (DEX) todayThursday, August 10, 3 p.m. UTC.
BTC20 staking on Wednesday was a huge success as investors rushed to benefit an annual return (APY) greater than 100%.
In just 15 minutes after the start of staking, 10% of all tokens in circulation were sent to the staking smart contract (i.e. $611,000). At the time of writing, $2,446,842 has been staked, according to official BTC20 dashboard data.
By continuing staking in preparation for the listing of BTC20, selling pressure is reduced when the token starts trading, thus strengthening the ability of buyers to drive up the price. All staked tokens remain locked for at least seven days.
Of the potential gains of 10x on the price of the BTC20 token could be realized from the first day of trading, thanks to the impact of its bullish mechanisms of tokenomics.
Well-known crypto analyst on YouTube, Michael Wrubel, with his 310,000 subscribers, predicts that BTC20 could create what he calls “future bitcoin millionaires”.
BTC20 Whales Participate in Staking and Arguably Provide Liquidity
Presale buyers can collect their holdings when trading starts at 15:00 UTC. Since all tokens not sold during the presale are locked into the staking smart contract, the supply of liquidity must come from existing token holders.
BTC20 holders can choose to stake some of their tokens and allocate another party as a liquidity providerthus benefiting from two sources of income.
Anonymous sources within BTC20 revealed that several whales had been identified in advance as providing liquidity. Liquidity providers earn 0.3% of the value of each transactionin proportion to their share of the pool.
Whales are likely to be active at a time as liquidity providers and as liquidity takers. For example, a whale staked $155,000. It will be interesting to see if this address is then identified as a significant liquidity provider.
Those waiting to participate in staking from 15:00 UTC today can use the dashboard to set the exact amount they wish to deposit.
The period during which tokens can be staked is indeterminate. Yield is dynamically generated every 10 minutes, although rewards cannot be claimed only after at least seven days of staking.
There is no need to define in advance how long you want to stake. Instead, simply withdraw your tokens when you want to end staking to claim your rewards.
How to add liquidity to the BTC20/WETH trading pair and earn 0.3% per trade
Adding liquidity is just as simple. You need to provide liquidity to the trading pair BTC20/WETHwhich means you will need both currencies in your wallet before logging into the website.Uniswap V2.
Once connected to Uniswap, click on the button “Join Pool/Add V2 Liquidity”. Next, search for the BTC20/WETH pool by copying the smart contract address (which you can find in the “liquidity supply” section of the BTC20 website – 0xe86df1970055e9caee93dae9b7d5fd71595d0e18) and then pasting it into the search bar.
After selecting the BTC20/WETH pool, click on the “join” button.
Simply enter the amount of ETH you wish to provide. Uniswap will automatically convert it to WETH (ETH wrapped) and will complete the corresponding equivalent amount in BTC20 for the trading pair.
Afterwards, click on “Provide”, check that the details are as expected and finally, click “Confirm”. Wait for the transaction to be confirmed and the process will be complete – you have become a liquidity provider for the BTC20/WETH trading pair. You will earn 0.3% on each trading transaction in proportion to your share in the liquidity pool.
Why BTC20 is such an exciting value proposition – it’s “Bitcoin on Ethereum”
BTC20 is an exciting new version of Bitcoin launched as a ERC-20 token on the Ethereum blockchain, renowned for its greater ecology. BTC20 represents Bitcoin on Ethereum.
The BTC20 token has the same token structure and issuance schedule as the original Bitcoin, but it dates back to April 2011 when Bitcoin had an offer. much lower 6.05 million and briefly traded at $1.
Indeed, BTC20 has sold 6.05 million of its tokens at $1 each in a blockbuster presale that sold out in a matter of days last week.
Pre-sale investors were eagerly awaiting the start of the face-off on Wednesdaygiven the prospect of massive potential returns.
Instead of tokens being issued to miners, as is the case with Bitcoin, new BTC20 tokens are issued to BTC20 owners who place their tokens in the token staking contract.
Bitcoin issuance rate was significantly higher in 2011at around 50 per block (each block taking around 10 minutes to complete), compared to just 6.25 per block today.
Diminished supply and pent-up demand set the stage for an explosive launch on the DEX
The current deposit of almost 2.4 million BTC20 tokens in the staking contract accounts for more than 40% of the current total token supply.
Holders placing their BTC20 tokens in the staking contract did so, as they are eager to accumulate the impressive potential return of the token and have no intention of selling in the near future.
This means that the unstaked BTC20 token supply that could be sold at launch on the DEX is significantly reduced.
We all know what happens when supply is limited – prices tend to rise. The successful launch of BTC20 staking set the stage for an explosive launch on the DEX.
And this, even before we take into account any demand for FOMO who is waiting in the wings to buy the token when it first appears on the exchanges.
BTC20 presale has ended sold in less than two weeks, and the craze has continued to grow in recent days. This suggests that many investors who would have liked to participate in the presale to get BTC20 to $1 missed the opportunity.
Assuming they still find the token attractive, many will likely be willing to pay extra to get BTC20. Strong demand seems destined to combine with limited supply for generate a sharp rise in prices when BTC20 launched on the DEX.
BTC20 price may increase 10x thanks to its strong DeFi design
BTC20 could get off to an explosive start when it goes into trading on Thursday. However, unlike most new token launches, BTC20 presents a strong long-term value proposition that could allow it multiply its value by 10 or more in time.
As mentioned earlier, the token provides an opportunity compelling passive income through stakingwhich is already encouraging investors to invest in it to benefit from it.
Word is already spreading about the triple-digit returns offered to BTC20 holders who participate in staking, thus probably increasing the demand as decentralized finance (DeFi) investors accumulate tokens to place in the staking contract.
DeFi market participants will also look to take advantage of the liquidity provision opportunity.
Other strong assets of BTC20 include the fact that the token is issued on the Ethereum networkthe oldest and most secure of all smart contract-enabled blockchains in existence, as well as home to the most developed and liquid DeFi ecosystem.
The BTC20 could soon be integrated into the wide variety existing DeFi appswhich could significantly add to its long-term value.
Visit the BTC20 website
Bitcoin on Ethereum is Green and Precious – Block Rewards Without Mining
The Ethereum blockchain is one of the blockchains the most ecologicalthanks to its switch to a proof-of-stake consensus mechanism instead of proof-of-work almost 12 months ago.
In comparison, Bitcoin does not support the deployment and execution of smart contracts and is criticized for its high energy consumption.
Bitcoin’s tokenomics structure is widely known and appreciated – another strong selling point for BTC20 as a token which mimics the mining rewards of Bitcoin without the need to invest capital in increased hashing power.
BTC20 is also attracting those who missed the opportunity to invest in Bitcoin in its early days and looking for a second chance to enter the Bitcoin market early.
However, BTC20 has the ingredients to deliver sustainable capital and income returns from its initial price. presale of $1 per token and a market capitalization of $6.05 million.
10x gains to propel BTC20 to a market capitalization of just over $60 million could turn out to be a probably conservative forecast.
Visit BTC20 for more information
This article does not represent investment advice in any way. The information provided here should not be used as the basis for making financial decisions. Investing in cryptocurrency involves risk and can lead to significant losses. You should only invest what you can afford to lose and do your own research before making any investment decisions.
