New Viral Stake-to-Earn Token BTCBSC Raises $1.3M in Under a Week – Here’s Why Traders Are Backing It
Brand new stake-to-earn cryptocurrency Bitcoin BSC ($BTCBSC) is generating overwhelming hype this week as it hits the $1.3 million milestone in its presale.
Bitcoin BSC ($BTCBSC) caused FOMO amongst investors as it allows them to buy the token for under $1 – paying homage to the early days of the original Bitcoin.
With the project gaining significant momentum, experts in the community are backing it to surge once it launches on DEXs as they predict its staking system will cause a market supply shock – giving way to a rapid rise in prices.
$BTCBSC Provides Lucrative Staking Rewards With Energy-Efficient Mining
The flagship feature of Bitcoin BSC is its staking model, which is expected to alleviate sell pressure on launch and create long-term utility for holders.
The verified staking contract releases $BTCBSC tokens in line with the original Bitcoin block rewards schedule to stakers over 120 years.
Those staking $BTCBSC earn a percentage of the rewards through the energy-efficient PoS mining consensus mechanism.
Per the Bitcoin BSC whitepaper, all unsold tokens (a minimum of 14.455 million $BTCBSC) will be locked into the staking contract to provide rewards once the presale ends.
The staking pool is already live, with the project offering 0.25 BTCBSC per block in rewards. At the time of writing, stakers are earning an estimated annualized percentage yield (APY) of over 400%.
The more $BTCBSC staked in the contract, the higher the share of the block rewards.
Naturally, this APY will come down as more stakers enter the pool, but BTCBSC will still likely offer much higher rewards than other PoS staking pools, which typically present between 5% and 10%.
For those concerned about security, the smart contracts for Bitcoin BSC have been fully verified by Coinsult – a highly respected security firm in the space.
The staking feature is expected to foster a community-driven approach where the collective actions of stakers drive the prosperity of all participants.
It’s designed to incentivize long-term participation as stakers earn from the token’s passive rewards and value appreciation.
Opportunity to Buy Bitcoin Under $1 Helping to Build Presale Hype
Investors are rushing to the presale because it offers the opportunity to buy an upgraded version of Bitcoin for less than $1.
The tokenomics for Bitcoin BSC mirrors the 21 million $BTC supply.
The presale pays homage to Bitcoin’s history when it was worth $1 with 6.125 million $BTC circulating during April 2011.
Therefore, a total of 6.125 million (29%) $BTCBSC will be available in the presale – priced at $0.99.
The presale is split into two phases, with the soft cap selling $4 million tokens, with an additional 2.125 million $BTCBSC released once the soft cap is reached.
Any unsold tokens and the 14.455 million (69%) $BTCBSC remaining will be sent to the staking contract after the presale.
The final 420,000 $BTCBSC (2%) is pre-mined to be reserved for decentralized exchange liquidity.
These carefully designed tokenomics help to recreate Bitcoin’s past while leveraging the perks associated with being built on the Binance Smart Chain.
Binance Smart Chain uses the same codebase as Ethereum. Still, it offers a range of additional opportunities for $BTCBSC, such as lower transaction fees, faster confirmations, and the ability to be integrated with all decentralized applications (dApps) from the Ethereum blockchain.
Market Supply Shock Incoming?
Bitcoin BSC has gained popularity on social media due to its presale momentum and unique staking system.
The project’s Twitter surpassed 1,000 followers at the time of writing, with many more flooding into its Telegram channel.
In addition, notable influencers are starting to discuss the potential of $BTCBSC, with popular YouTuber Jacob Crypto Bury expecting a 10x return for early adopters.
Analysts predict that the staking mechanism can potentially cause a supply shock on the open market.
This is because most $BTCBSC is expected to be locked in the staking contract as investors utilize the stake-to-earn benefits.
As a result, newcomers entering $BTCBSC will be forced to pay higher prices once the token launches on DEXs like Uniswap – as few tokens will be available for purchase.
With its unique staking setup and presale momentum building, Bitcoin BSC is setting itself up as a new utility token to monitor in the coming weeks.
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