New staking cryptocurrency BTC20 ($BTC20) generated significant buzz last week, raising $1.7 million through its presale phase.
The presale of BTC20 ($BTC20) was an instant hit because it allowed investors to buy tokens at the symbolic price of $1 – an homage to the original Bitcoin in the early days.
With the momentum around the project showing no signs of slowing down, many in the crypto community are backing it to pump once it makes its open market debut in the coming weeks.
$BTC20 Offers Huge Staking Rewards with Energy Efficient Setup
The marquee feature of BTC20 is its staking model, which allows token holders to earn rewards over time through a vesting contract.
Inspired by the original Bitcoin block rewards, this contract is designed to distribute $BTC20 tokens to stakers for approximately 120 years.
According to the BTC20 whitepaper, all unsold tokens (minimum of 14.95 million $BTC20) will be locked in the staking contract once the presale ends.
Token holders can then stake their $BTC20 to receive recurring rewards – the more $BTC20 staked, the higher the payout.
Naturally, this staking model provides a way for investors 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 aims to provide a more energy-efficient and sustainable alternative to the Bitcoin mining setup.
As noted in an article from NBC, experts believe that PoS protocols can consume up to 99.99% less energy than PoW protocols – essentially making BTC20 a “green crypto” project.
Honoring the Original Bitcoin Helps Build $BTC20 Presale Hype
BTC20’s stake-to-earn setup plays on its presale hype, which is also reinforced by the project’s strategy of paying homage to Bitcoin’s history.
Just as Bitcoin’s price was $1 in its early days, BTC20 aims to replicate that opportunity by allowing presale investors to acquire tokens at the same price point.
Many in the fast-growing BTC20 Telegram community believe it will be fruitful, given the project’s potential for post-listing growth.
Additionally, BTC20 mirrors Bitcoin’s original circulating supply of 21 million tokens.
Up to 6.05 million of these tokens will be sold in the presale, divided into two separate stages.
This carefully designed tokenomics setup aims to recreate the roots of Bitcoin while benefiting from the benefits associated with building the Ethereum blockchain.
Using the Ethereum blockchain offers many benefits as it creates opportunities for $BTC20 to be integrated into a range of decentralized applications (dApps).
Since Ethereum is a hub for NFT, DeFi, and metaverse activity, structuring $BTC20 as an ERC-20 token allows for massive interoperability and future functionality – something that has contributed to the growing presale hype.
Crypto Influencers Turn to 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.
The project Twitter The page has grown to over 1,700 followers at the time of writing, with new people flooding in every day.
Many famous crypto influencers have also discussed the potential of BTC20.
Michael Wrubel, who boasts over 310,000 YouTube subscribers, uploaded a video describing $BTC20 as “the next Bitcoin.”
In addition, the famous crypto analyst Jacob Bury also mentioned BTC20 in a recent video, thinking that it is a “new crypto that could explode soon.”
Due to this influencer’s backing, many BTC20 community members are talking about how high $BTC20 could go once it is listed on the open market after the presale.
Although it is impossible to predict, if the current hype and momentum continues, $BTC20 could experience a lot of appreciation from the $1 presale price, making it a sign to watch in the coming weeks.
Visit the BTC20 Presale
Disclaimer: The above article is sponsored content, it was written by a third party, and is intended for promotional purposes only. It does not represent the opinions or views of CryptoPotato, and none of it should be considered financial advice. Readers are strongly advised to check the information independently and carefully. Investing in cryptocurrencies carries the risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the highlighted content above.
Readers are also advised to read the entire CryptoPotato disclaimer.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% discount on Binance Futures fees first month (terms).
PrimeXBT Special Offer: Use this link to register and enter the code CRYPTOPOTATO50 to receive $7,000 on your deposits.