Terra Classic LUNC is one of the coins that has attracted the most attention recently. Reasons for this include the 65 percent increase in value in the last week and the developments in the network. A strategic investment by Terra Classic Labs (TCL) has had a cascading impact on LUNC, sparking excitement about a potential recovery in the network.
Terra Classic Labs has made a strategic investment of approximately $500K in TerraClassicUSD (USTC), the algorithmic stablecoin associated with the Terra platform. This capital injection is seen as a confidence-boosting move that could contribute to the recent price rally.
Additionally, the Terra Classic community has rallied behind the token with collaborative efforts aimed at revitalizing these assets. The community voted on the cremation resolution in September, and the majority of the community sided in support of the cremation.
The token burning mechanism is a frequently used method in the cryptocurrency industry to manage inflation and increase token value by reducing supply. The burns on the Terra network, carried out within a week, led to an impressive price increase for both USTC and LUNC.
luncmetrics.com, a site that tracks these burns, announced that more than 1 billion tokens were burned in the last week. A total of more than 78.24 billion LUNC tokens have been burned so far, causing the circulating supply to drop to 5.8 trillion.
The rapid rise of Terra Classic can also be attributed to reports that Do Kwon, co-founder of Terraform Laboratory, should be extradited from Montenegro to the USA or South Korea. 32-year-old Kwon, who caused a multibillion-dollar collapse of the Terra network last year, was arrested in the capital Podgorica in March after escaping for months with fake passports.
LUNC’s growth is one that has defied all odds in recent times. Some analysts predict it could rise as high as 0.00090. Investors continue to search for other coins that can show such growth.
At this point, a token called Bitcoin ETF attracts attention. The pre-sale event of this token, which entered the crypto scene recently, brings together investors who want to buy Bitcoin ETF tokens.
What is Bitcoin ETF Token (BTCETF)?
While the Bitcoin ETF awaits news from the SEC for approval, the Bitcoin ETF token is designed to reward community members with this news. It is known as a new cryptocurrency project that offers users the potential to stay informed about ETFs and earn returns from them.
Aligning its fate with the progress of the Bitcoin ETF, the project positions itself as a prime investment opportunity for those looking to gain exposure to the current ETF excitement.
BTCETF Token can be purchased at the price of $0.006 in the ongoing presale. The project has a goal of reaching $10 million in pre-sales. The pre-sale is progressing quickly, raising over $1.9 million. Being able to raise this fund in a very short time raises hopes for the big goal.
BTCETF token can be purchased at a price of $0.006 in the ongoing presale. The token can be purchased with ETH, USDT, BNB and MATIC coins. Credit card has been determined as another purchasing method.
Detailed Road Map
BTCETF token combines a deflation mechanism and a dynamic tax deduction system that are compatible with key milestones in the spot ETF approval process.
For each milestone reached, the project burns 5 percent of the total supply. The project also collects transaction tax from users, which is reduced by 1 percent when these acres are reached.
BTCETF token’s roadmap identified 5 milestones. This means that 25 percent of the total supply, that is, tokens, will be burned. These milestones are as follows:
- BTCETF Token transaction volume exceeds 100 million dollars
- First Bitcoin ETF approval from SEC
- Official launch of the first Bitcoin ETF
- Bitcoin ETF assets under management exceed $1 Billion
- Bitcoin reaching a value of 100 thousand dollars
Additionally, Bitcoin ETF token holders can earn passive income by staking their tokens on the project’s website. As of this writing, those looking to purchase Bitcoin ETF tokens can earn an annual percentage yield (APY) of up to 127 percent.
The staking mechanism currently offers this rate, but as the staking pool grows, this rate will decrease. In other words, investors who benefit from high rates are early investors.
Long-Term Growth Potential
Purchasing BTCETF tokens has a transaction tax system that imposes a 5 percent tax on all transactions in its ecosystem. This tax is structured around an additional deflationary mechanism that contributes to the overall economic model of the project.
Upon completion of each milestone, BTCETF’s deflationary model adjusts by reducing the transaction tax by 1 percent. This may be one of the factors that increase users’ commitment to the project.
The project has aligned its growth with significant developments in the Bitcoin ETF industry. It was also designed to offer attractive rewards to investors by incorporating a deflationary mechanism.
Additionally, if major milestones are reached, it is expected to create great excitement in the markets and positively impact the value of the token. Well-known analysts such as Jacob Bury and Crypto Boy say that BTCETF is likely to experience a bigger rise when it enters the stock markets.
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