The cryptocurrency market is currently maintaining an upward trajectory, increasing by 0.21% to reach $1.18 trillion. Despite the overall bullish attitude, the scene sees a mix of cases, raising questions over the sustainability this surge. One such case is the PEGASUS token, skyrocketing upwards a thousandfold in a day, gaining significant investor interests. On the other hand, we also have an ERC-20 token, BTC20, drawing strong waves in the cryptosphere due to its promise to invoke the spirit of Bitcoin’s rise while incorporating modern smart contract functionalities.
The Pegasus Sniperbot project has managed to attract considerable attention, even though it’s relatively new to the industry. The blockchain protocol works as an automatic sniper bot that gives investors timely access to new projects, reducing their vulnerability to rug pulls – sudden refusal of the creator to continue with the project during an ICO. The Pegasus team believes this innovative feature is the solution to seize first-mover advantages leading to improved profits.
The token is currently trading at $0.56, witnessing an uptrend of 158.46% in the last 24 hours after reaching an all-time high of $0.7048. It’s capitalizing on these gains while still displaying strong bullish signals. However, it’s not all sunshine and roses for Pegasus. Despite verification and a 100% community trust, it’s bogged down by a heavy 5% tax on both buying and selling, making it one of the high-priced tokens newest to the market.
Meanwhile, BTC20 is carving a name up for itself by reinventing the Bitcoin magic. Intended as a homage to the early Bitcoin days, this smart contract token entices investors who missed the initial Bitcoin rise. With BTC20, investors can witness repeating history due to the token’s design mirroring that of Bitcoin. From its selling price of $1 to a planned quantity of 6.05 million tokens, this recent launch is reminiscent of Bitcoin in its early days.
BTC20 offers much more than a mere trip down memory lane. It couples the functionality of the Bitcoin network with the advanced features of Ethereum’s blockchain. It also comes with a hard cap limit of 21 million tokens, just like Bitcoin, making it deflationary from the beginning. Plus, the ability to earn passive income through staking is an added benefit for token holders.
One of the main points of contention here is the contrast of these two entities: one rocketing to a high market cap due to uncertain reasons while the other is pursuing the path of mindful design to provide a tangible benefit to its holders. Such a landscape raises questions about which path leads to a prosperous future, but it’s fascinating to see this play out in the Crypto world.
Source: Cryptonews
