Bitcoin Minetrix Launches on Uniswap, Announces 10% Token Burn as $BTCMTX Price Set to Soar
In a groundbreaking move, the revolutionary bitcoin cloud mining token Bitcoin Minetrix ($BTCMTX) has made its debut on DEXs after successfully raising $14 million in a presale. As a result, industry experts are anticipating a significant surge in its price, especially with the recent announcement of a token burn and the possibility of a buyback campaign.
At precisely 4pm today, Bitcoin Minetrix declared a token burn of 400,000,000 tokens, which accounts for 10% of the total supply of 4 billion. This burn is scheduled to take place tomorrow (Wednesday, May 1st) at 8am UTC. Speculation suggests that a buyback initiative may follow the burn, aiming to drive the price even higher. Although the details of the potential buyback campaign remain unknown, token holders are excited about these initiatives that will provide support for the price.
Today’s announcement is believed to be just the beginning of a series of token burns that will occur regularly, possibly on a monthly basis.
During the presale, $BTCMTX was initially priced at $0.011 per token. However, due to profit-taking triggered by unwarranted fear, the token is currently trading at a discounted price. The unexpected drop in the bitcoin price that coincided with the launch is also considered a contributing factor to the token’s softness.
As of now, liquidity worth $887,000 has been locked for 11 months in the Uniswap decentralized exchange V3 pool, offering additional protection for market participants. This commitment demonstrates the team’s long-term dedication. Furthermore, nearly 25% of the total token supply is staked, which helps alleviate downward pressure. Staked tokens earn an estimated annual reward of 52%.
At the time of writing, the Bitcoin Minetrix token is being traded at $0.0071, indicating the establishment of a price floor. This level is expected to attract buyers as the project’s value proposition becomes more visible.
It is anticipated that the halving cycle will create a supply shock that will drive up bitcoin prices. Consequently, bitcoin-related coins like $BTCMTX, which have exposure to the BTC mining ecosystem, are likely to experience a rise in value.
The next update from the Bitcoin Minetrix team will focus on the project’s roadmap, including announcements regarding cloud-mining partners. With the presale successfully concluded, the platform will now enter its building phase. Although specific details about the new roadmap have not been disclosed yet, investors are particularly interested in learning more about the mining partners.
The recent halving of bitcoin rewards has emphasized efficiency and capital investment, intensifying competition in the mining sector. This development works in favor of Bitcoin Minetrix as it gains access to competitively priced partners.
Bitcoin Minetrix stands out in the market due to its unique offering. By tokenizing the cloud mining business, it eliminates fraud and lack of transparency in mining contracts. The stake-to-mine protocol gives token holders complete control over their mining activities. They can stake tokens to claim cloud mining credits based on the proportion of their stake in the pool.
No other product compares to Bitcoin Minetrix, which explains its significant investment appeal. Unlike meme coins that offer short-term gains, Bitcoin Minetrix provides a real-world utility and a solid use case. Through its stake-to-mine protocol, investors have the potential to earn a passive income stream and secure substantial capital returns. Patient medium and long-term investors can look forward to high ROI in the future.
Please note that investing in crypto is a high-risk endeavor, and this article is for informational purposes only. It does not constitute investment advice, and there is a risk of losing all invested capital.