The latest cryptocurrency to capture the attention of the crypto market is Bitcoin ETF Token ($BTCETF). As the name implies, the token taps into the growing optimism and euphoria around the potential Bitcoin Spot ETF approval.
But it’s not a meme coin that just makes use of a crypto trend. The token comes with stake-to-earn and burning mechanisms which reward investors as the market gets closer to ETF approval and the Bitcoin price to $100,000.
The presale of $BTCETF tokens was launched this week. Within hours of going live, it has raised $34,994 out of its targeted $420,000. The growing excitement around the ETF approval translates to FOMO for the project.
$BTCETF is expected to sell out in a few days as more investors learn about the project and understand its intrinsic as well as speculative potential.
Lower initial market cap, higher returns
Bitcoin is a sensible investment with spot ETF approvals on the horizon and bitcoin halving due next year. However, the ROI from the world’s largest cryptocurrency is likely to be limited to 100% to 200%.
Thanks to its large market cap, Bitcoin is a saturated asset.
Despite the massive relevance of the Bitcoin ETF approval, the BTC price will be unable to capitalize on the unprecedented hype building up.
This is where Bitcoin ETF Token steps in. The new token’s low initial market cap leaves a large room for growth for early investors and allows them to get good exposure to the events unfolding.
Although most of the market is predicted to climb the charts on the approval, Bitcoin ETF Token is looking at substantially higher potential profits. Being a project that solely relies on Bitcoin ETF approval, it strategically positions itself at the forefront of the crypto mania that is gaining momentum.
Users can keep track of the latest developments in Bitcoin ETF approval from the official website of Bitcoin ETF Token.
VISIT BITCOIN ETF TOKEN WEBSITE
Built on a robust foundation
As mentioned above, Bitcoin ETF Token is not a meme coin. It has a robust vision and roadmap that sustains its long-term price action.
The most interesting aspect of the project is its roadmap with pre-determined milestones. On crossing these, a portion of the token supply will be burned, kindling a strong price action that further fuels the FOMO.
The burning mechanism takes advantage of the inverse relationship shared by price action and supply through scarcity.
The milestones will be underpinned by real-world events tied to the success of ETF approval and the price action of Bitcoin. Here are five milestones that will initiate a 5% burn of the token’s supply:
The bitcoin derivative has a total supply of 2.1 billion (2,100,000,000). Out of these, 25% will be burnt over time.
Explaining the first Milestone for #BTCETF! 1️⃣
$100M Trading Volume: The first recognition of BTCETF’s market presence!
When total trading hits $100M, 5% of the token supply will be burned.
Transaction tax also drops from 5% to 4%.
Powerful times ahead for #BitcoinETF. 🚀 pic.twitter.com/fu2YWaGiEI
— BTCETF_Token (@BTCETF_Token) November 5, 2023
Staking encourages holding
Bitcoin ETF Token comes with a staking mechanism that increases the potential returns of early investors. On the one hand, it allows the project to limit the number of tokens in the market, thus supporting its price action. On the other, it allows investors to grow their investment over time at attractive APYs (annual percentage yields).
Staking is also a good tool to generate community activity, taking advantage of the supply and demand dynamics. The project has set aside 25% of the total token supply for staking rewards. The APY has yet to be announced.
Sell tax discourages selling
While the stake-to-earn mechanism encourages the holding of $BTCETF tokens, the integrated sell tax discourages selling. Both support the price appreciation of the token.
The built-in sell tax is applied every time a $BTCETF investor sells their tokens. The tax rate varies as the project crosses a new milestone as listed above. It starts at 5%. With each new milestone, it is brought down by 1%. And once all five milestones have been crossed, it is taken off.
The tokens withheld as tax will be burnt automatically.
The system is implemented to tackle the pump-and-dump scheme that new crypto projects often fall prey to. Since early investors face a 5% tax, they are encouraged to HODL until the last milestone.
Once Bitcoin reaches $100,000, investors won’t be required to pay any tax.
Limited-time discount for early investors
Investors who buy $BTCETF tokens in the first stage of the presale are eligible for a steep discount from the launch price of $0.0068.
In the current presale stage, investors can grab the token for just $0.005. The presale, divided into 10 stages with a gradual price increase, has a small hard cap of $5 million.
Investors need to act early to secure the token for the best deal before the presale ends. Although Stage 1 is scheduled to be live for five days, it is likely to sell out earlier due to the growing momentum around the project.