Bitcoin Minetrix ($BTCMTX), a revolutionary bitcoin cloud mining token, recently launched on DEXs after raising $14 million in a presale. The token price is expected to soar following the announcement of a 400,000,000 token burn, which amounts to 10% of the total supply of 4 billion. Speculation suggests that this burn may be followed by a buyback campaign to increase the price further. This news is anticipated to be the first of many token burns scheduled over a set duration, potentially on a monthly basis.
The initial price of $BTCMTX was set at $0.011 during the presale, but the token is currently trading at a discount due to profit-taking triggered by what the team refers to as “unwarranted FUD.” The drop in the price of bitcoin, which has decreased by 2.5% to just over $61,000, coinciding with the launch, is believed to have contributed to the softness in the $BTCMTX price. Despite this, liquidity worth $887,000 has been locked for 11 months on the Uniswap decentralized exchange V3 pool, providing security for market participants.
Nearly a quarter of the total supply of 4 billion $BTCMTX tokens remains staked, earning an estimated annual reward of 52%. This staking activity helps reduce downward pressure on the token price. Currently trading at $0.0071, the $BTCMTX token is stabilizing and poised to attract buyers as the project’s value proposition gains visibility. The upcoming halving cycle is expected to create a supply shock that will drive bitcoin prices higher, benefiting coins like $BTCMTX with exposure to the BTC mining ecosystem.
Following the conclusion of the presale raise, the Bitcoin Minetrix team is entering the building phase of the project, with updated details on the roadmap pending release. Investors are eagerly awaiting news about cloud-mining partners, especially in light of the recent halving of bitcoin rewards, which has increased competition in the mining sector. Tokenizing the cloud mining business offers significant advantages over peer competitors, such as transparency in mining contracts and stake-to-mine protocols that allow token holders control over their mining activities.
Investors have shown strong support for Bitcoin Minetrix due to its unique product offering and real-world utility within the mining sector. The stake-to-mine protocol not only provides the potential for a passive income stream but also enables investors to lock in substantial capital returns. As the platform continues to evolve, long-term investors stand to benefit from significant ROI potential. Disclaimer: The cryptocurrency market is high-risk, and this article is for informational purposes only, not investment advice. There is a risk of losing all invested capital in the crypto market.
