By BTC20 Price Can Explode 10x Today at DEX Launch After $2.4 Million Staked, 40% of Circulating Supply Locked For 107% APY
Thursday, August 10, 2023 – The BTC20 price is primed to explode in today’s listing after more than 40% of its circulating supply was locked into the staking contract in its first 17 hours of operation.
BTC20 launches on the Uniswap decentralized exchange (DEX) at 3pm UTC today, Thursday, August 10.
BTC20 staking on Wednesday was a huge success, as investors rushed to access a rich annual percentage yield (APY) above 100%.
Within 15 minutes of staking, 10% of all the tokens in circulation had been sent to the staking smart contract ($611k). As of the time of writing, $2,446,842 has been staked, according to BTC20’s official dashboard data.
As more staking continues in the run-up to BTC20’s listing, it weakens selling pressure when the token starts trading and magnifies buyers’ ability to push the price higher. All staked tokens are locked for a minimum of seven days.
10x gains in the price of the BTC20 token could be achieved on the first day of trading as the effect of its bullish tokenomics come into play.
Top YouTube Crypto analyst Michael Wrubel with 310k subscribers, predicts BTC20 could be minting what he dubs ‘the future bitcoin millionaires.’
BTC20 whales are staking… and probably providing liquidity too
Presale buyers can claim their holdings when the listing begins – 3pm UTC. Because all the tokens not sold in the presale are locked into the staking smart contract, liquidity provision must come from existing coin holders.
BTC20 token holders can decide to stake a proportion of their holding and allocate another portion as a liquidity provider, benefiting from two income streams.
Unnamed sources at BTC20 have let it be known that several whales have been identified in advance who will be providing liquidity. Liquidity providers earn 0.3% of the value of each transaction, proportional to their share of the pool.
Whales are likely to be active as both liquidity providers and liquidity takers. For instance, there is one whale who has staked $155k. It will be interesting to see whether this address is later identified as a significant liquidity provider.
https://etherscan.io/tx/0xdcd98db8c005b8931ecc4df00921ad9f8d47ef45cc705c127c323724c475f155
Those who wait to participate in staking from 3pm UTC today can use the dashboard to set the exact amount they wish to deposit.
The length of time tokens can be staked is indefinite. Yield is generated dynamically every 10 minutes, although the rewards can only be claimed at least seven days after staking.
There is no need to set the length of time you wish to stake in advance. Instead, simply withdraw your tokens when you want to end staking to claim your rewards.
This is How to Add Liquidity to the BTC20/WETH Trading Pair and Earn 0.3% Per Transaction
Adding liquidity is equally straightforward. You must provide liquidity to the BTC20/WETH trading pair, so you will need each currency in your wallet before connecting to the Uniswap V2 website.
Once connected at Uniswap, click the ‘Join a poll/Add V2 liquidity’ button. Then search for the BTC20/WETH pool by copying the smart contract address (which you can find in the ‘providing liquidity’ section of the BTC20 website – 0xe86df1970055e9caee93dae9b7d5fd71595d0e18) and then pasting it into the search bar.
After you have selected the BTC20/WETH pool, click the ‘join’ button.
Now simply enter the amount of ETH you wish to provide. Uniswap will automatically convert it to WETH (Wrapped ETH) and fill in the corresponding equivalent BTC20 amount of the trading pair.
Next, click on supply, check the details are all as you would expect, and lastly, click ‘confirm’. Wait for the transaction to confirm, and the process is complete – you have become a BTC20/WETH trading pair liquidity provider. You will earn 0.3% on every trading transaction in proportion to your share of 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 an ERC-20 token on the much greener Ethereum blockchain. BTC20 is Bitcoin on Ethereum.
The BTC20 token has the same tokenomics and issuance schedule as the original Bitcoin but turns the clock back to April 2011, when Bitcoin had a much lower supply of 6.05 million and briefly traded for $1.
Indeed, BTC20 sold 6.05 million of its tokens for $1 each in a blockbuster presale that sold out in a matter of days last week.
Presale investors had been eagerly awaiting Wednesday’s staking launch, given the prospect of massive potential yields.
Rather than tokens being issued to miners, as is the case with Bitcoin, new BTC20 tokens are issued to BTC20 owners who enter their tokens into the token’s staking contract.
The Bitcoin issuance rate was significantly higher in 2011, at around 50 per block (with each block taking about 10 minutes to complete), versus just 6.25 per block today.
Reduced Supply, Pent-Up Demand Set Stage For Explosive DEX Launch
The current depositing of nearly 2.4 million BTC20 tokens into the token’s staking contract amounts to more than 40% of the token’s overall current supply.
Holders placing their BTC20 tokens into the staking contract have done so because they are keen to accumulate the token’s impressive potential yield and do not have any intention of selling anytime soon.
That means the supply of unstaked BTC20 tokens that could be sold in the DEX launch is significantly reduced.
We all know what happens when the supply is constrained – prices tend to increase. The success of BTC20’s staking launch has set the stage for an explosive DEX launch.
And that’s before we even consider all of the FOMO demand waiting on the sidelines to scoop up the token as it debuts on exchanges.
BTC20’s presale sold out in under two weeks, and hype has continued to build over the past few days. That suggests many investors who would have liked to have gotten into the presale to secure BTC20 for $1 missed the opportunity.
Assuming they still find the token compelling, many will likely be willing to pay a premium to get hold of BTC20. Strong demand looks set to combine with tight supply to produce powerful positive price action for the BTC20 DEX launch.
BTC20 Price Can 10x Thanks to Its Strong DeFi Design
BTC20 could see an explosive start to trading on Thursday. But unlike most new token launches, BTC20 has a robust long-term value proposition that could help it 10x or more in time.
As mentioned, the token offers a compelling passive income opportunity via staking that investors are already piling in to benefit from.
The word is already spreading about the triple-digit yields on offer to BTC20 stakers, which will likely strengthen demand as Decentralized Finance (DeFi) investors amass token holdings to place in the staking contract.
DeFi market participants will also be looking to take advantage of the liquidity provision opportunity.
Other strong BTC20 selling points include the fact that the token is issued on the Ethereum network, the oldest and most secure of all existing smart-contract-enabled blockchains, and the home of the most developed and liquid DeFi ecosystem.
BTC20 could soon find itself integrated into the great variety of existing DeFi applications, which could add substantially to its long-term value.
Visit BTC20
Bitcoin on Ethereum is Green and Valuable – Block Rewards Without the Mining
The Ethereum blockchain is one of the greenest blockchains, thanks to its shift to a proof-of-stake consensus mechanism from proof-of-work nearly 12 months ago.
By comparison, Bitcoin does not support smart contract deployment and execution and is criticized for being highly energy intensive.
The Bitcoin tokenomics structure is widely known and valued – another strong selling point for BTC20 as a token that mimics the mining rewards of Bitcoin without the need to sink capital into building up hash power.
BTC20 also appeals to those who missed out on investing in Bitcoin in its early days and are looking for a second chance to get in on Bitcoin early.
All said, BTC20 has the ingredients to deliver sustained capital and income returns from its initial presale price of $1 per token and a market cap of $6.05 million.
10x gains to propel BTC20 to a market cap of just above $60 million could prove to be probably a conservative forecast.
Visit BTC20 For More Information
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
