The ERC-20 token, better known as BTC20, is causing an internet frenzy. It’s aggressively outpacing both Pepe coin and bitcoin in Google Trends searches. Furthermore, it has amassed over $3.4 million in its presale in just nine short days, making it a standout performer in the digital currency market. Investors are intrigued by the concept of owning bitcoin on the Ethereum blockchain at bitcoin’s original 2011 price: a mere $1.
An enticing yield potential up to 520%, an innovative play on the Bitcoin derivative, and the opportunity to capitalize on the Bitcoin bull cycle are a few factors drawing buyers to BTC20. As a bonus, it boasts ecological benefits and other advantages that come from being situated on Ethereum, an industry-leading commercial and decentralized application layer. By comparison, regions such as Germany and parts of Europe show a higher search interest in BTC20 than Pepe coin during active trading sessions.
BTC20, however, isn’t just about garnering attention; there’s substance behind the hype. In an effort to “turn back the clock” on Bitcoin prices, BTC20 has multiple benefits that set it apart: it resides on the Ethereum blockchain, making it more environmentally friendly; it has a high staking yield; and comes with access to the world of Decentralized Finance (DeFi).
The project has already garnered attention from more than 2,600 Twitter followers and 1,500 telegram group members, and featured in various crypto news outlets. With this trajectory, BTC20 pre-sale could hit its target of over $6 million in just a few days, potentially triggering an explosive launch on decentralized exchanges (DEXs) due to accumulated demand and fear of missing out.
Beyond gaining recognition and growing investment, BTC20 is promising a considerable passive income opportunity. Its issuance schedule mimics that of Bitcoins since 2011, with high yield returns for staked tokens, potentially reaching 520%. Although high yields, in turn, may entice more investors and subsequently dilute the staking yield, the allure of lucrative BTC20 yield should encourage investors to hold their tokens longer, minimizing any substantial price drops.
Notably, BTC20 has been dubbed the eco-friendly version of Bitcoin. The transition of Ethereum to a proof-of-stake consensus mechanism has drastically reduced its energy consumption, making anything built on the Ethereum blockchain–including BTC20–much more energy-efficient.
BTC20 is opening its doors to a highly developed decentralized finance (DeFi) ecosystem, courtesy of the smart-contract-enabled Ethereum blockchain. While Bitcoin lacks any notable DeFi ecosystem due to its more simplistic blockchain, this integration gives BTC20 token holders much more operational flexibility.
With all its promising features, this high-risk asset class could be one of the hottest pre-sales of 2023. The potential of it following Bitcoin’s trajectory–up 29,000% since its 2011 price–offers immense investment potential. Even at the minimum, influencers predict a 10x potential for BTC20, proving it’s a project worth watching and potentially investing in. However, as with any other crypto asset, investment entails risk and could potentially result in the loss of capital.
Source: Cryptonews
