The value of TrueUSD (TUSD), a stablecoin pegged to the US dollar, deviated from the $1 parity and fell to $0.985 on January 15. The departure of TrueUSD’s exchange rate from a fixed value triggered an increase in trading activity on the Binance platform.
According to the data obtained from the transaction page of the stock exchange, there was a net inflow of 301.54 million dollars to TUSD in the last 24 hours, while there was an outflow of 147.77 million dollars. As a result, there was a $142 million shortfall in the overall flow.
Numerous market analysts attributed the sell-off initiated by large-scale investors and influenced by market forces to the depreciation of TUSD. While the market was in panic, investors also began to direct their assets to other projects. As Bitcoin halving approached, Bitcoin-themed coins came to the fore. At the forefront was a new project, the cloud mining platform Bitcoin Minetrix.
Bitcoin Minetrix, the Project That Opens Cloud Mining to the Public
Bitcoin Minetrix, whose pre-sale has recently started, has attracted great attention in the crypto market. The project successfully raised over $8.6 million thanks to heavy purchases of Bitcoin Minetrix tokens during the pre-sale.
Bitcoin Minetrix (BTCMTX) is expected to experience potentially significant growth thanks to its unique Stake-to-Mine system that rewards users for holding cryptocurrencies. The platform ushers in a new era in the industry by bringing a revolutionary approach to cryptocurrency mining with its Stake-to-Mine configuration.
The early success of Bitcoin Minetrix’s presale is mainly attributed to its innovative configuration that lowers the barriers to cryptocurrency mining. Individuals who own BTCMTX, the project’s cryptocurrency, have the opportunity to engage in staking activities in exchange for cloud mining capabilities to mine Bitcoin. This eliminates the exorbitant costs associated with hardware and electricity typically associated with BTC mining. Thus, it enables more investors from all over the world to participate in the process.
Bitcoin Minetrix’s Stake-to-Mine protocol incentivizes long-term holding of BTCMTX by offering staking payouts currently at a 75 percent annual return. For this reason, more than 553 million tokens are currently locked, thanks to those who purchased and staked Bitcoin Minetrix tokens.
Significantly, as the number of tokens staked increases, the returns offered will decrease. This means that early joiners will gain the biggest advantage from Bitcoin Minetrix’s concept.
Bitcoin Halving Provides Opportunity for Significant Growth in BTCMTX
Bitcoin Minetrix’s strong pre-sale result indicates that the project is likely to face increased demand in 2024 and beyond. This is expected to be driven by favorable conditions resulting from Bitcoin’s upcoming halving event and growth forecasts for the rapidly expanding cryptocurrency mining industry.
The Bitcoin protocol goes through the process of reducing the supply issuance rate by half every 210 thousand blocks, which attracts great attention from the financial community. It is said that the halving event, which is expected to take place in April, will cause a decrease in the entry of new BTCs into circulation. It is estimated that this may have an upward effect on its price.
As Bitcoin’s value increases, the process of mining its blocks is becoming increasingly contentious and financially rewarding. Therefore, it seems that individuals who purchase Bitcoin Minetrix tokens and choose to invest their tokens in cloud mining capacity may observe an increase in the value of their dividends after the halving event occurs.
Additionally, the expected growth in the cryptocurrency mining industry is expected to attract a wider audience who may be interested in the features offered by Bitcoin Minetrix. The expected influx of new participants in the mining industry is likely to accelerate the adoption of Bitcoin Minetrix’s functions.
Bitcoin Minetrix’s Successful Pre-Sale Draws All Attention
There is increasing speculation about Bitcoin Minetrix’s potential to become one of the best-performing cryptocurrencies this year and experience an acceleration in value once it is listed on exchanges. Because Bitcoin Minetrix has proven its capacity to attract huge interest from investors, raising more than $8.6 million during its pre-sale. After the pre-sale ends, the only way to purchase BTCMTX will be through centralized or decentralized exchanges, where the interaction between supply and demand will determine its availability.
If demand continues or increases after listing, BTCMTX is likely to experience a significant price increase due to its limited supply. An examination of the cryptocurrency market shows that some recently launched tokens have experienced significant increases of over 100 percent in short periods of time in the last few weeks. Some crypto experts who like the Bitcoin Minetrix project also say that if market conditions continue to improve, Bitcoin Minetrix could benefit from a similar increase in purchasing activity.
Investors Predict Bitcoin Minetrix Will Overtake Ethereum in 2024
In many ways, Bitcoin Minetrix is similar to the Ethereum of the late 2010s. Because it is claimed that the project is on the verge of presenting a groundbreaking concept. Given the huge momentum behind the pre-sale, some traders think Bitcoin Minetrix could be poised to outperform Ethereum next year.
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