Bitcoin on Ethereum Coin BTC20 Price Surges 600% in 48 Hours After Launch, Aiming for $100m Market Cap
Bitcoin on Ethereum Coin BTC20 has experienced an incredible surge of 600% just 48 hours after its launch. With its current momentum, it is expected to reach a market cap of $100 million. This stake-to-earn coin closely follows the tokenomics of Bitcoin and is currently priced at $4.06, marking a more than 300% increase from its initial listing price of $1. Some traders have even witnessed the price briefly reaching $6, yielding a 600% return and setting a high near-term price target.
The circulating supply of BTC20 currently has 3,930,621 tokens staked out of the total of 6,050,000 tokens. This means that 65% of the circulating supply is already staked. The remaining tokens are locked for rewards, with an annual percentage yield (APY) of 66.97%.
Whales Eager to Buy BTC20 as It Approaches $1 Billion Market Cap
Deep-pocketed whales are entering the market, with one buyer holding a wallet valued at nearly $2 million and starting to accumulate BTC20 at a modest sum of $6,049. These buyers are expected to continue entering the market whenever there are short-term dips, as they anticipate gains that could potentially reach up to 100x, resulting in a $1 billion market cap.
BTC20 Dominates DEXTools Rankings, FOMO Begins
BTC20 has been trending in the top 10 on decentralized exchange (DEX) data and trading sites, such as DEXTools, since yesterday afternoon. In fact, BTC20 has already secured the No.1 spot on DEXTools as fear of missing out (FOMO) intensifies. The number of token holders has surged to 3,922, and the 24-hour trading volume has exceeded $3 million. Additionally, the locked liquidity on Uniswap V2 has reached $347k.
Anticipating 10x Gains as First Stakes Unlock
Based on the 4-hour price chart analysis, BTC20 is expected to experience a 10x gain by the seventh day of trading, which falls on Wednesday, August 16. This is also the day when the first stakers will have the option to unlock their coins. Market participants will closely monitor this milestone to observe how token holders respond, considering that a significant portion of the circulating supply is currently locked due to staking.
Factors Driving the BTC20 Price Higher
Several factors contribute to the upward movement of the BTC20 price:
- High Annual Percentage Yield (APY): The attractive APY offered by BTC20 is expected to attract more buyers. If the number of stakers or the amount staked decreases, the APY will increase, enticing additional passive income investors to purchase and stake the token. The BTC20 team plans to introduce an easy-to-use “buy and stake” button next week.
- Increase in Visibility: BTC20’s continuous presence on popular crypto data sites, including Coinmarketcap and CoinGecko, is anticipated to draw attention from hundreds of thousands of potential buyers, raising awareness and driving demand.
- Potential Exchange Listings: While there are currently no official plans for exchange listings, BTC20 may still be listed on top centralized exchanges (CEXs) due to its increasing trading volume and popularity. CEXs like OKX and Binance are more likely to list BTC20 if its trading volume and number of token holders continue to grow.
- Marketing Efforts: BTC20’s marketing team is expected to ramp up their efforts to further boost the token’s price. Collaborations with influential figures in the crypto community, digital marketing campaigns on popular industry sites, and active engagement on platforms like Telegram and Twitter will help create a sense of FOMO.
The Rise of Staking Version 2 Coins – XRP20 Coin as the Next Potential Performer
Following the success of BTC20, other coins are exploring the staking trend. One such coin is XRP20, currently in its presale phase. Although not affiliated with Ripple or XRP, XRP20 draws inspiration from those projects. It offers staking rewards and is predicted by YouTube experts to yield 10x returns for early investors.
With a deflationary burn mechanism in place, XRP20 is expected to attract prospective buyers. The coin has already raised $2.3 million toward its $3.6 million hard-cap target, and its run rate is anticipated to accelerate as investors in the low-cap crypto arena take notice of BTC20’s success and search for similar opportunities.
Disclaimer: Cryptocurrency investments involve high risk, and this article should not be considered as investment advice. Please be cautious and only invest what you can afford to lose.
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