Bitcoin on Ethereum Coin BTC20 Price Pumps 600% 48 Hours After Launch, Heading for $100m Market Cap
Bitcoin on Ethereum Coin BTC20 has seen its price explode 600% 48 hours after launch, with 10x gains imminent. As crypto traders start to pile into the hot coin, it is on course to hit a market cap of $100 million.
The BTC20 stake-to-earn coin mirrors the tokenomics of Bitcoin and is currently priced at $4.06, up more than 300% after listing for $1; the price has already briefly touched $6 for a 600% return, setting a marker for the near-term price target today.
Meanwhile, at the last count, 3,930,621 tokens of the 6,050,000 in circulation have been staked, amounting to 65% of the circulating supply, according to the latest BTC20 website real-time dashboard data.
The remaining tokens of the 21 million total supply are locked for paying out rewards – the annual percentage yield is currently 66.97%.
BTC20 simulates the block rewards on Bitcoin from 2011, which stood at 50 BTC per block produced. BTC20 rewards accrue every 10 minutes and can be claimed a minimum of seven days after first staking. Staking began operation last Wednesday at 3pm UTC.
After a lunch day that saw the BTC20 price establish a solid floor at $1, likely due to the stability that its yield-bearing tokenomics provide, it began to gird high yesterday and then exploded in parabolic fashion.
Deep-pocketed whales are entering the market. One such buyer, with a wallet valued at nearly $2 million, has started building a position in BTC20, which is presently a modest sum of $6,049.
Such buyers will no doubt keep entering the market on near-term dips as they look to gains that could reach as high as 100x for a $1 billion market cap.
https://etherscan.io/tx/0xe62dc8d6299d3b41a77cd079c53c8ff99a20d3891af8b1a02ba8859d6e500ec3
Since yesterday (Saturday) afternoon in
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