Crypto Rallies as Grayscale Wins Lawsuit Against SEC, a Landmark Decision for Cardano and Bitcoin Spark
The recent win of global asset manager Grayscale has sparked the crypto industry with a banger. The Security and Exchange Commission denied an ongoing Bitcoin exchange-traded fund (ETF) application filed by Grayscale investment firm.
Nevertheless, the court had an alternative opinion to the SEC, suggesting that the BTC ETF would play a vital role in the investment sector. Venture capitalists and retail investors would participate in crypto without accumulating any virtual currency. Cardano and Bitcoin Spark are the dominant digital platforms that lure entrepreneurs into blockchain technology.
What you'll learn 👉
Is Cardano a good investment?
Cardano, which has been operating in the digital currency market longer than numerous digital currency initiatives as well as various exchanges, has proven itself to be an excellent choice for a good investment over a prolonged period by virtue of its vision, collaborative efforts, international commercial applications, and devoted audience on the web. However, great potential lies in an upcoming project called Bitcoin Spark.
What is Bitcoin Spark?
Bitcoin Spark is a new decentralized platform categorized as a Bitcoin alternative. The project uses a proof-of-process mechanism in conducting operations. The network’s currency is BTCS, which acts as a gas token for transacting. The decentralized platform is set to counter problems within Bitcoin’s community in a more improved version.
GrayScale Lawsuit Paves the Way to Bitcoin Spark
The decentralized ecosystem has emerged among the leading technological innovations in the current generation. Bitcoin Spark is the new inaugurant in the niche. The platform seeks to improve the operation in the blockchain ecosystem. The project has an all-new validation mechanism, proof-of-process, blending proof-of-stake and proof-of-work into a future-proof package.
The double consensus mechanism facilitates easier operations and makes the platform lightweight to support mining activities for low-powered devices. Validators are rewarded for partaking in the project development when they mine and provide processing power to the platform.
Investors seeking to put their money into an upcoming crypto project should look into Bitcoin Spark. The digital network has similar tokenomics to that of Bitcoin. The native token for the platform, BTCS, is utilized to reward community members who contribute to the project’s progress. BTCS also acts as a gas token. It has a maximum supply of 21 million. The total token supply is divided into two: mining rewards (16.45 million), mined for a minimum of 120 years, and launch supply of 4.55 million.
The launch supply has already been allocated to the initial coin offering, team tokens, pre-network launch exchanges, and liquidity pools. The project is currently in phase 4 of the presale, where each BTCS is purchased at a cheaper rate of $2.25. Users will get a 10% bonus for each BTCS purchased. They will also have 489% capital gains during the launch period set to take place on 30th November.
Bottomline
The case concerning Grayscale and SEC has showcased the immense potential for the survival and adoption of the cryptocurrency industry. The ecosphere will have tremendous adoption as large-scale and small-scale investors begin trading the Bitcoin ETFs.
Bitcoin Spark’s entrance will generate massive waves to the ledger technology due to its new, improved features. Improving functionalities such as scalability, interoperability, and reduced transaction costs will create enormous traction in the financial universe.
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