Binance Chain’s users’ long awaited desire for a premier store-of-value token, to rival Bitcoin (BTC), has now been realized. The Bitnance (BTN)” token presale launched Thursday, the 21st of March.
The live initial coin offering can be viewed on Bitnance.net. The $BTN token costs $0.357 (cents) or just under 36-cents each.
This new cryptocurrency will be a solution for Bitcoin seekers, who prefer the extremely low cost trading fees of Binance Chain. Buy-sell transactions on the BC [formerly BSC] averaged $3.70 in 2023.
In comparison, Bitcoin-Blockchain transaction fees averaged an industry high of $39 per buy-sell action.
Bitnance will be the second low supply, deflationary token launched this year, set to rival Bitcoin, on a rival to its native blockchain. It’s an ongoing trend, looking to offer cryptocurrency traders an alternative to BTC that will have ‘patches’ for flaws found in Bitcoin.
According to the official website and ICO, there will be a total of 7.75-million Bitnances sold during the presale. Overall, there will be a finite supply of only 10.5-Million tokens minted [ever]. This is exactly half the supply of Bitcoin, which has a total token supply of 21-million coins.
Unlike Bitcoin however, Bitnance will be 100% community oriented; This means all tokens will be sold through fair-opportunity trading. The founder of this new SOV token for Binance Chain nor developers involved will be gifted free tokens.
Founder of Bitcoin, Satoshi Nakamoto, is scaring investors on the other hand as it’s recently been noted that he kept 1-million tokens of the 21M supply. The massive stash was kept in various ‘secret’ wallets and would have a value of over $64-Billion-dollars today.
Such a massive amount of tokens can allow Satoshi to influence the value of BItcoin (BTC) at any moment he chooses. A massive sell-off could reshape the integrity of the cryptocurrency’s brand and overall price.
Beyond this, the Bitcoin-Blockchain has several issues, including the actual ‘gas fees’ or cost for completing buy-sell transactions. New tokens like Bitnance (BTN) and Mollars (MOLLARS) are giving crypto-traders an exit from those incurable flaws.
Mollars (MOLLARS) token, another SOV token with similar qualities to Bitcoin, will launch on crypto exchanges in May of this year. It’s going to be the premier store-of-value token for the Ethereum-Blockchain. Thus far, over 2-million tokens were sold via its ICO as ERC-20 network users flock to the SOV opportunity on their favorite blockchain.
The logical reasoning for these new deflationary tokens is to offer traders options, on the same blockchain they are already heavily invested. While Bitcoin has the biggest brand of all cryptocurrencies, other networks have become more effective and useful than the original crypto-coin.
The Bitnance token presale will end on October 12th of this year or when all 7.750-billion ICO tokens have been sold.
The first tokens are expected to be sold within the week as market focuses shift back to presales and ICOs from Bitcoin’s bullish trends.
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