New cryptocurrency project Bitcoin BSC – backed by experts as one of the best BTC alternatives on the market – is nearing the end of its public presale round. The BTCBSC presale – which has a hard cap of $6.063 million – is now approaching the $5.5 million mark having gone live just three weeks ago.
If Bitcoin BSC’s presale performance thus far is any indication, the remaining $560k worth of tokens could sell out in less than a week, especially since the project has captured the imagination of crypto whales.
The admin of the Crypto Whale Pumps channel on Telegram revealed yesterday that he has purchased Bitcoin BSC tokens in the ICO.
With his strong track record of picking out lesser-known crypto gems, this announcement could drive the token’s demand amongst his 25k subscribers.
After all, Bitcoin BSC is priced at just $0.99 in its ICO, while offering similar growth prospects as Bitcoin, when the largest cryptocurrency was trading below the $1 mark in April of 2011. The token’s staking utility, along with its improved technological architecture, also sets it up for both the current bear market and the next bull run.
Bitcoin BSC’s Staking Rewards In Spotlight As Market Prepares For Unprecedented Interest Rates
JPMorgan CEO Jamie Dimon revealed yesterday that the Federal Reserve may raise the benchmark interest rate to 7%, which would almost certainly push the US economy into a recession.
The current Federal funds rate is at 5.25% – 5.50% after the central bank decided against another interest rate hike, at least for this month. However, Fed chair Jerome Powell did signal a strong possibility of more monetary tightening in the months to come.
Restrictive monetary supply will lead to more bearishness in Bitcoin – after all, BTC posted its worst quarter in a decade after the Fed raised interest rates by 0.75 bps in June of last year. Consequently, Dimon’s prediction has made investors reevaluate their strategy and pivot to tokens that offer staking utility.
While Ethereum, Cardano and Solana all offer an APY of 5% to 7%, the Bitcoin BSC staking pool is currently offering an APY of just under 100%, thus gaining strong traction amongst retail investors. Such a high staking reward allows them to beef up their profits, irrespective of the token’s price or the broader market outlook.
As a result, over 2.75 million tokens have already been staked by investors who are looking to maximise their returns.
Those purchasing the token through BNB or BEP-20 USDT will be able to avail of this utility during the presale itself – those using ETH or ERC-20 USDT will have to wait for the completion of the ICO.
The BTCBSC staking feature also pays homage to Bitcoin – investors earn their staking rewards every 10 minutes in the same way BTC miners earn their block creation rewards.
Furthermore, 69% of the total Bitcoin BSC supply has been allocated to staking rewards, which will be unlocked over a 120-year period – in short, the BTCBSC rewards will run out around the same time when the last BTC token is mined in 2140.
Why New Cryptocurrency Bitcoin BSC Could Be A Winner In The Next Bull Run
Bitcoin BSC’s on-chain staking mechanism is tailor-made for the current bear market, resulting in strong price growth after the token’s launch. After all, other “Version 2.0” tokens like BTC20 and BTC 2.0 massively outperformed Bitcoin in the short term as well.
However, the developer team behind Bitcoin BSC is also playing the long game, offering a faster, cheaper and greener version of BTC that can see tremendous growth during the next bull market as well.
The BTCBSC token is built on the BNB Smart Chain, which means that its transactions are much quicker and cheaper as compared to Bitcoin and Ethereum. Furthermore, its proof-of-stake consensus mechanism is much more eco-friendly than BTC’s proof-of-work, thanks to its low energy consumption.
The token’s BEP-20 design also offers seamless compatibility with widely-used dApps like MetaMask and Trust Wallet, which will help boost its adoption amongst new crypto investors.
Experts are clear that the next bull market is not a matter of if, but when, with bulls like Michael Saylor continuing to beef up their BTC holdings.
Popular trader Joe Parys believes that Bitcoin BSC is one of the best BTC alternatives that will also explode during the next bull run.
It is also important to remember that owing to Bitcoin’s high price of around $26,000, the largest cryptocurrency can only lead to limited returns. Even if BTC manages to hit a new all-time high of $100,000, it would only mean a 4x return for its investors.
On the other hand, Bitcoin BSC has been specially designed to replicate BTC’s meteoric rise since the early days of 2011.