Bitcoin ETF Token ($BTCETF) has crossed the $100K milestone in its hot presale.
At the time of writing, the presale count was $122,636. It comes as a pleasant shock to the crypto community since the project has just launched.
The presale is gaining momentum as the BTC price reaches for $37K and predictions turn wildly bullish. Currently, $BTCETF is selling for a fixed price of $0.005 in the first stage of the presale.
The price will increase soon.
What you'll learn 👉
What is Bitcoin ETF Token?
Bitcoin ETF Token is a new cryptocurrency project that gives users high exposure to the growing sentiments around ETF approvals.
But there’s more to the project than hype. Stake-to-earn, burning, and tax systems are integrated into its working mechanics. Bitcoin ETF Token can be also classified as a DeFi project, as a result.
It combines hype and utility in a creative approach, which explains the growing traffic to the presale.
Analysts and traders are coming forward with bullish price predictions for Bitcoin ETF Token as the project’s social media visibility grows. For example, Jacob Bury, known for his low-cap hunts, predicts $BTCETF to climb 10X on its launch.
Multiple factors in favor
A key factor that has worked in favor of Bitcoin ETF Token is its timely launch. The presale taps into the positive sentiments in the market toward the Bitcoin ETF applications that are likely to be approved in a few months.
According to analysts, they could bring trillions of dollars in liquidity to the market. If the assets get approval in Q1 2024 as anticipated, established assets like BTC, ETH, ADA, and MATIC, to name a few, will reclaim their all-time highs.
The high market relevance of the event channels to the price action of $BTCETF.
Each development in the approval of Bitcoin ETFs will help the token kindle price surges. The massive upside potential that lies in the name can’t be understated.
The roadmap of Bitcoin ETF Token features predetermined milestones that coincide with the journey of Bitcoin ETFs and the bitcoin price action.
Another interesting fact to note is the various DeFi mechanisms that have been put into play to support the token’s price action.
For example, the stake-to-earn system will favor the holding of the token with the promise of attractive rewards. A sizable 25% of the total token supply is set aside for staking rewards. It also promotes early investment in the project, thus expediting community building, as the APY goes down with more participants joining the pool.
The earlier an investor joins the pool, the higher the APY. Presale investors can start earning staking rewards on their purchases right away. The APY was 1853% at the time of writing.
There are more DeFi features that help the token sustain its value even after the initial momentum subsides.
Burning schedule and sell tax aligned with Bitcoin trajectory
The stake-to-earn module allows the project to limit the supply of $BTCETF in the open market temporarily with the promise of attractive rewards. The system incentivizes holding.
The burning mechanism, on the other hand, cuts down 25% of the supply of the token permanently from the market. It is implemented from time to time, as shown above.
To further discourage pump-and-dump schemes and ensure a sustainable price action, the project has implemented a sell tax. It begins at 5% and decreases by 1% as the project hits new presale milestones.
All tokens withheld as tax are burnt automatically. The tax will be removed once the token hits the fifth milestone when the BTC price closes a daily candle above $100,000.
More than just a hype
Bitcoin ETF Token doesn’t plan on being just a meme coin that takes advantage of market trends. It focuses on providing utility as a means to underpin its market relevance and, in turn, price action.
The official Bitcoin ETF Token website features aggregated news and updates from around the web related to Bitcoin ETFs, their approval, and bitcoin.
1 day left in the presale stage
The presale of Bitcoin ETF Token is structured to favor early investments. The earlier an investor joins the presale, the lower the price and the higher the staking APY.
There is just one day left in the current presale stage, which is priced at $0.005 per token.
From Friday, investors will have to pay a higher price for the token. The presale supports purchases in ETH, USDT, and bank cards.
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