Can the bitcoin price reach $30,000 this week? Traders buy new cryptocurrency for cloud mining

2주 ago 0 25

As of today, many crypto traders continue to worry about the future fate of bitcoin. While some are waiting for the main cryptocurrency to rise to $30,000, others are investing in a new project Bitcoin Minetrix based on Stake-to-Mine technology.

Specialists note that while the price of BTC continues to move sideways, the new project offers investors a unique opportunity to earn money. The fact is that Bitcoin Minetrix is the first fully decentralized solution with the help of which users can receive cryptocurrency. To do this, they first need to earn assets on steaking to then direct them to bitcoin mining.

Undoubtedly, all market participants are currently interested not only in the asset function itself, but also in its further impact on the industry. On the one hand, it has the potential to alleviate sales pressure at the startup. On the other, it can stimulate the long-term adoption of the coin.

The pre-sale pace of the project is also noteworthy: in just a few minutes, it attracted over $100,000 worth of investment. At the same time, the initial fundraising goal is $15.6 million. A total of 10 stages of the presale are planned, 9 of which will be accompanied by a gradual increase in the value of the asset by 10%.

Experts suggest that if this pace of selling continues, the first stage could be completed within a week – more than $300,000 has already been raised. Early investors do not waste time and put money into the promising project now, while its value is only $0.011. To keep up to date with news about Bitcoin Minetrix, it is recommended to subscribe to the developers’ official X (former Twitter) accounts, as well as join groups on Telegram and Discord.

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Bitcoin Minetrix covers two of the most popular niches – steaking and mining

According to analysts, this combination is an extremely successful move on the part of the developers. They can attract more potential investors by offering several ways of earning cryptocurrency at once.

As of today, it is known that there are currently about 383,179 BTCMTX in Ethereum-based smart contracts.

It is also reported that the cryptocurrency reward for stakers is generated over two years – about 158.5 BTCMTX per ETH block. That is, the current annualized yield percentage (APY) is 108.739%. However, it should be remembered that this figure will gradually decrease as new participants join the pool. At the same time, the exact amount of reward that stakers will receive is determined by the APY itself and the volume of the total staking pool.

BTCMTX is an affordable cryptocurrency that could replicate the success of the original bitcoin

The $BTCMTX token, which is currently selling for $0.011, has a low capitalization but is still capable of generating millions of dollars in profits for its holders. At the moment, the bitcoin price continues to show a sideways trend. The liquidity and volatility levels of the asset are also at low levels. Therefore, it is not surprising that traders have increasingly started to pay attention to alternatives to the main cryptocurrency.

Their number in the market has recently increased significantly on the background of increased demand from investors. As a rule, all such “clones” (from Bitcoin Cash to Bitcoin 2.0 and BTC20) are created precisely to provide users with new opportunities at a more favorable price.

However, Bitcoin Minetrix, unlike many other bitcoin “clones”, has a number of undeniable and important advantages. Moreover, already at the start, the project has a real field of application. Therefore, experts predict that the demand for the new Bitcoin Minetrix will only grow in the future.

Bitcoin analogs are becoming more and more popular, but BTCMTX has chances to become a leader

The recent launch of BTC20, the price of which increased 5 times shortly after listing, proved that such coins are indeed in demand on the market. Other assets of this kind have also significantly increased in price. For example, Bitcoin 2.0 rose 189% (1890 times) from the price it was at listing (see price chart below).

However, while the utility of BTC20 is provided by the steaking mechanism, Bitcoin 2.0 is slowly starting to lose its position as it has no real application. At the same time, Bitcoin Minetrix stands out favorably among competitors’ projects due to the new mining function. It is thanks to it that it can take its place among such successful assets as Bitcoin Cash (BCH) and Bitcoin SV (BSV).

These two tokens are forks of the original blockchain. Although BTCMTX is not one of them, it still has a direct connection to the Bitcoin network. The point is that the token increases its hash power, due to which the Proof-of-Work protocol functions. It is necessary to verify all transactions in the project ecosystem.

BTCMTX differentiates itself from its competitors due to tokenized cloud mining

Of course, there are many cloud mining services on the market. However, many of these platforms are created by scammers. Unlike them, BTC Minetrix offers a safe way to increase your income by operating on ERC-20 Ethereum.

Thanks to the decentralized architecture of the project, all user funds do not change hands. In return, access to the BTC Minetrix cloud platform is opened to traders based on the number of coins they have placed in staking.

In addition, the Stake-to-Mine system allows the user to determine how much hash power he or she wants to possess. This is because it is directly related to the number of credits earned, which in turn is related to the amount of BTCMTX in the staking.

The fact that Bitcoin Minetrix is developed on the Ethereum blockchain allows for many fast transactions for a small price. Coupled with smart contracts, these advantages make it possible to manage the distribution of funds among users.

In addition, Ethereum is widely regarded as the most secure smart contract platform available today. Accordingly, BTCMTX can also be considered as one of the most reliable solutions for cloud mining.

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Author: Saifedean Ammous, an expert in cryptocurrency economics.