New stake-to-earn token BTC20 raises $1.7m in a week – here’s why traders are backing it

Brand new staking cryptocurrency BTC20 ($BTC20) has generated a lot of buzz over the past week, raising over $1.7 million through its presale phase.

BTC20 ($BTC20) The presale has been an instant hit as it allows investors to buy tokens at the symbolic price of $1 – a tribute to the early days of the original bitcoin.

The project is showing no signs of slowing down, with many in the crypto community backing it to boost following its open market debut in the coming weeks.

$BTC20 Offers Attractive Staking Rewards With Energy-Efficient Setup

A key feature of BTC20 is its staking model, which allows token holders to earn rewards over time through a vested contract.

Inspired by the block rewards of the original bitcoin, the contract is designed to distribute $BTC20 tokens to stakeholders over an estimated 120 years.

according to btc20 white paperAll unsold tokens (minimum 14.95 million $BTC20) will be locked into the staking contract after the presale ends.

Token holders can stake their $BTC20 to receive recurring rewards – the more $BTC20 is staked, the higher the payout.

Naturally, this staking model offers investors a way to earn passive income by holding $BTC20 long term.

Furthermore, since this model uses a Proof-of-Stake (PoS) mechanism instead of Bitcoin’s Proof-of-Work (PoW), BTC20 aspires to provide a more energy-efficient and sustainable alternative to Bitcoin’s mining setup.

As mentioned in an article NBCExperts believe that PoS protocols can consume up to 99.99% less energy than PoW protocols – essentially making BTC20 a “green crypto” project.

Tribute to the Original Bitcoin Helps Build $BTC20 Presale Hype

btc20 The stakes-to-earnings setup has played a role in its pre-sales promotion, which has also been bolstered by the project’s strategy of paying homage to bitcoin’s history.

Just as bitcoin was priced at $1 in the early days, BTC20 aims to replicate that opportunity by allowing pre-sale investors to acquire the token at the same price point.

Many in the booming BTC20 Telegram Community I believe this could prove useful considering the growth potential of the project post listing.

Furthermore, BTC20 mirrors the original circulating supply of bitcoin at 21 million tokens.

Of these, up to 6.05 million tokens will be sold in the presale, which will be divided into two different phases.

This carefully designed tokonomics setup aims to recreate bitcoin’s roots while taking advantage of the advantages associated with being built on the ethereum blockchain.

Leveraging the Ethereum blockchain offers many benefits as it creates opportunities to integrate $BTC20 with a range of decentralized applications (dApps).

Given that Ethereum is the center of NFT, DeFi and Metaverse activity, structuring $BTC20 as an ERC-20 token allows for extreme interoperability and future utility – a factor that is contributing to the growing presale hype.

Crypto Influencers Back BTC20 To Be The Next Bitcoin

Capitalizing on the momentum from its presale success and unique staking configuration, BTC20 quickly gained popularity on social media.

Projects Twitter As of the writing of this article, the page has amassed over 1,700 followers with new ones being added every day.

Several notable crypto influencers are also discussing the potential of BTC20.

Michael Vrubel, who has over 310,000 subscribers on YouTube, uploaded $BTC20 touted as “the next bitcoin” in a video.

Additionally, prominent crypto analyst Jacob Burry also discussed BTC20 recently. Videospeculating that it is a “new crypto that could explode soon.”

Given this impressive support, many BTC20 community members are already discussing how much higher the BTC20 price could be if it is listed on the open market after the presale ends.

While it is impossible to predict, if the current hype and momentum continues, $BTC20 could experience a significant appreciation from its $1 pre-sale price, making it a coin to watch in the coming weeks.

Visit BTC20 Presale

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