4 reasons for the increasing bitcoin selling pressure – investors are looking for alternatives

The platform also offers a P2E game, which both introduces a social element to the project and improves interaction between community members. Most importantly, however, is the opportunity to earn SPONGE V2 tokens, which adds another layer of utility to this meme coin.

Building on the success of the Sponge token, SPONGE V2 aims to expand its market reach and holder base. The team’s ambitions include listing on major exchanges such as Binance and OKX, which could significantly increase the token’s visibility and value. Additional perks:

• V1 coins are permanently blockchained, which shows the team’s focus on the sustainability and growth of the cryptocurrency.
• Current staking rewards are as high as 254% per year.
• Sponge V2 is targeting a community that already exceeds 30,000 fans of the coin.

Meme Kombat

Meme Kombat (MK) is an ERC-20 standard token pre-sale that offers a new paradigm in the meme coin niche. The project brings together all iconic characters in one arena where players can watch fights and bet on the outcome.

In the first season, the fighters include 11 memes such as Baby Doge, Milady, Kishu, Floki and others. More characters and betting options will be added in the future.

There are 60 million MK tokens available in this pre-sale, with a total supply of 120 million coins. Moreover, the founding team has kept none of this volume for themselves: 30% will go to steaking and battles, 10% to DEX liquidity and 10% to player rewards. The presale is almost complete, but investors can still have time to buy the coin before it is listed. The pre-market value of the coin is $0.279.

In summary, Meme Kombat is a project with great potential, as it combines key elements that could bring success to the new MK altcoin. These include passive income from steaking and active income from betting, as well as the appeal of the world’s most famous and recognized meme tokens. Features:

• Ecosystem offers a reward of 121% APY.
• The founder can be seen on LinkedIn, which promotes transparency – another area where this token shows its potential.
• There are side markets and bets on specific actions to make the battles more exciting and increase the chances of earning for participants.

Why has bitcoin’s selling pressure intensified?

Investors with over 1,000 Bitcoin (BTC), also known as whales, have increased their selling pressure on the market. This is evidenced by the latest data from the Glassnode portal shared by its analyst.

The behavior of traders of various sizes indicates that there is currently little demand for bitcoin, while supply prevails. However, the asset is recovering and has risen 11% in the last week.

Analyst firm Kaiko points out that the selling pressure is a result of the sell the news strategy. This concept implies buying an asset before the expected event and selling it in order to take profit after its occurrence, even if it is positive. So the pullback followed the launch of exchange-traded funds (ETFs) in the U.S. investing in this cryptocurrency.

Secondly, the anticipation of ETFs stimulated investor demand right up until their launch, when widespread profit taking occurred in the market.

Finally, sales are affected by the bitcoin halving, which will occur in as little as 3 months. During January, miners transferred about 571,000 BTC to exchanges. They are selling stocks for two reasons – to make a profit by taking advantage of the high BTC price, and also in order to buy newer and more efficient equipment.

Wrapping up

• Bitcoin Minetrix, SPONGE V2 and Meme Kombat are investment alternatives that can be considered as viable options in the face of falling BTC price.
• The pre-sale token value has a deflationary mechanism – it rises as the project reaches fundraising milestones.
• Thanks to quickly gaining investor support at the end of the presale, the tokens are listed on leading exchanges, after which they begin to show profits again.