An alternative form of Bitcoin, called BTC20, is set to launch on the Ethereum blockchain, generating a lot of excitement among industry experts. BTC20 shares the same tokenomics design as the original Bitcoin, with a maximum supply of 21 million tokens and a similar issuance schedule. However, unlike Bitcoin, BTC20 operates on the energy-efficient proof-of-stake Ethereum blockchain, making it much more environmentally friendly.
In addition to its green credentials, BTC20 offers several advantages over Bitcoin. Being built on the Ethereum network allows for faster transaction times and immediate access to the extensive ecosystem of Decentralized Finance applications. This gives BTC20 greater utility compared to its predecessor.
Moreover, BTC20 is being touted as a superior investment opportunity. When it launches on Ethereum-based decentralized exchanges (DEXs), it will have a market cap of only around $6 million. Given the significant hype surrounding the project, it is expected that the market cap will quickly rise beyond this initial valuation.
Another enticing feature of BTC20 is its potential for passive income. With the same tokenomics as Bitcoin, but with the issuance clock set back to 2011, stakeholders can benefit from the higher issuance rate by staking their tokens. BTC20 token staking recently went live, attracting over 1.35 million tokens from presale investors. The current yield offered is approaching 200% per year, as displayed on BTC20’s official staking dashboard. It is worth noting that a whale investor has deposited 155,000 BTC20 tokens (worth $155,000) into the staking contract, further adding to the project’s momentum.
As the DEX listing on Thursday approaches, it is expected that more presale investors will deposit their tokens into the staking contract. This will help alleviate potential sell pressure during the DEX launch and may cause the BTC20 price to increase rapidly.
For those interested in purchasing BTC20, they can find the official token on Uniswap by pasting its contract address, which can be verified on Etherscan. By connecting their wallet to the DEX on the Ethereum network, investors will be able to buy BTC20 with their ETH.
It is important to note that cryptocurrency investments, including BTC20, carry a high level of risk. This article is for informational purposes only and does not constitute investment advice. There is a possibility of losing all invested capital.
