Why did BTS Coin Surge (Is BTS Coin Valuable in 2021)?
Why did BTS coin surge recently? According to data from ChainThinkTank, as of 3
Why did BTS coin surge recently? According to data from ChainThinkTank, as of 3 PM today, Bitcoin has surpassed $38,000.
In the past 24 hours, the “BitcoinStandardHashrateToken” trading pair has increased by more than 400%, from 0.005 on January 13th to a current increase of over 30%. On the other hand, “BitcoinCash” (BSV) has experienced a significant decline and is currently priced at 0.018 BTC.
So, why did BTS coin suddenly plummet? Let’s analyze it together with the author (WeChat: o-daily):
1. BTS is a decentralized currency protocol.
2. It can be exchanged 1:1 with other fiat currencies.
3. It does not require any central authority to manage its wallet.
4. Its value is determined by the community.
This makes BTS a safer and more trusted cryptographic network because users can transfer funds and assets without using third-party custody services.
5. It has anonymity and privacy.
6. Since the project team did not specifically work in the blockchain field, its goal is not to replace existing technological solutions. Therefore, the vision of this project is to establish a new global payment system.
7. BTS has a fixed issuance of 10 billion and is released every 10 minutes.
8. BTS will be used as a unit of account for storing and distributing digital certificates.
Is BTS Coin Valuable in 2021?
Recently, the market value of Bitcoin has surpassed Ethereum, becoming the most valuable cryptocurrency at present. However, its development speed has significantly accelerated in the past few years. With the rise in price and the increasing participation of investors, more and more institutions are starting to buy in, and BTS is also being accepted and pursued by more people.
According to the latest statistics, as of the close on November 16th, the BTS coin price has fallen by about 80% from its all-time high in early January. At the end of December 2020, the price of BTS coin once dropped to around $2 and at the end of 2019 dropped to around $4. But now it has risen above $50,000 again, which means its market share has doubled!
In this case, if Bitcoin is considered the most important financial asset in the world, then Bitcoin Cash, Ripple, and Tron are also projects worth looking forward to. Since the beginning of 2019, they have been in a “death spiral” as they try to hedge inflation risks (such as halving) by selling part of their reserves. However, recently, due to the continuous rise of BTC and ETH and the decrease in price, some people have allocated their investment portfolios to these cryptocurrencies, including some large funds such as MicroStrategy and private wealth management companies.
In addition, except for Bitcoin, the total issuance of most digital tokens is still less than 100 billion, and only a few small-scale companies hold these cryptocurrencies. Despite this, although they may still dominate most of the market share, it is difficult for them to maintain their price trend in the short term, so they may not exist in the long run and may be supported by other exchanges or platforms.
However, we should note that there is not much news about Bitcoin in the current market, or there are not many information about Bitcoin that can be disseminated to people’s lives, and there are often negative news at certain times. In fact, as the world’s largest blockchain network, Bitcoin has attracted a lot of attention. But at the same time, the Bitcoin community is also working hard to deal with such incidents:
End of 2020: Bitcoin broke through $20,000 for the first time; 2021: The second BTC exceeded 80 million in circulation; Q1 of 2022: The third batch of BTC reached a total of 30,000 addresses; global central banks announced the launch of digital currency Libra… These factors are driving the development of the entire industry.
Since 2019: BCH hard fork upgrade, EOS development team proposal, and so on… Various news keeps coming out…
Did the bear market in 2019 make many people think that BTS is a bubble? Maybe it’s because people didn’t understand this term at that time and thought it was a scam, but didn’t know why it was like this. In fact, to some extent, Bitcoin does not really have real utility, right? Of course not, after all, Bitcoin does have real use cases now.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/22844/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
DeFi Loan Agreement OpenLevel Launches Pledge Loan Service and Will Post Secondary Airdrop on Arabic
On April 18th, according to official Twitter, the decentralized lending and margin trading agreement OpenLevel announced that it has launched a pledge lending agreement on Arbitrum
-
AI Technology Reshaping Society: Sam Altman’s Opinion
On March 17th, Sam Altman, CEO of OpenAI, said that artificial intelligence (AI) technology will reshape society. He believes that AI poses dangers, but it is also the greatest technology ever developed by humans. OpenAI CEO: AI technology will reshape society, and regulators and all sectors of society should participate in the release and testing of ChatGPT as much as possible Analysis based on this information:Sam Altman, CEO of OpenAI, emphasized on March 17th that artificial intelligence (AI) technology is currently reshaping our society. Although it contains numerous risks, he still saw AI as the greatest technology ever developed by humans. The world is currently witnessing major technological advancements. One of the most innovative and disruptive technologies is artificial intelligence. AI is becoming more accessible and applicable in various industries, ranging from healthcare, education, manufacturing, and transport, among others. It has been challenging the conventional approaches while exploring novel solutions. However, AI technology comes with many risks, as pointed out…
-
Succinct Labs Launches Ethereum Interoperability Protocol Telepathy Based on zkSNARKs
On March 17th, Succinct Labs announced the launch of the Ethereum interoperability protocol Telepathy based on zkSNARKs. This protocol allows developers to leverage the security of the Ethereum Lightweight Client Protocol to achieve untrusted communication from Ethereum to other chains. Currently, the protocol has been launched on the main network and a Demo has been released for user experience. Succinct Labs Launches Ethereum Interoperability Protocol Telepathy Based on zkSNARKs Analysis based on this information:Succinct Labs, a blockchain technology company, has announced the launch of a new Ethereum interoperability protocol called Telepathy, which is based on zkSNARKs. This protocol is designed to allow developers to use the security of the Ethereum Lightweight Client Protocol to achieve untrusted communication from Ethereum to other chains. The protocol has been launched on the main network, and a Demo has been released for users to test the technology. Interoperability is a critical issue in the blockchain space, as many different blockchain networks exist and they…
-
Web3.0 Application Demo Day to Showcase Latest Blockchain Innovations in Hong Kong
On March 26, it was announced that the \”Web3.0 Application Demo Day\” event, co hosted by Wanxiang Blockchain Lab and HashKey Group, and supported by Cyberport, will be held at the
-
Revolut Groups Over 100 Tokens Based on Corresponding Underlying Technologies
On April 7th, it was reported that Revolut, a digital banking application headquartered in the UK, has grouped over 100 tokens based on corresponding underlying technologies.
Revol -
UBS Group considers acquisition of Credit Suisse with regulatory support
According to reports, after Credit Suisse Group announced that it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group is reportedly considering acquiring the banking giant. However, UBS requires regulatory support to prevent any losses it may incur when acquiring Credit Suisse. According to unnamed sources familiar with the matter, UBS Group, the world’s largest private bank, hopes regulators will uphold the transaction. Source: UBS is considering acquiring Credit Suisse and requesting regulatory support for the transaction Analysis based on this information:The announcement by Credit Suisse Group that it plans to borrow 50 billion Swiss francs from the Swiss National Bank has brought about rumors of a possible acquisition by the UBS Group. The world’s largest private bank is enthusiastic about taking over Credit Suisse, but is seeking regulatory support to avoid any financial losses that may arise from the acquisition. According to sources familiar with the matter, UBS Group’s interest in acquiring Credit Suisse is…
-
A Beginner’s Guide to Trading Cryptocurrency on FTX, Tether, and Uniswap in Hungary
12:00-21:00 Keywords: Hungary, FTX, Tether, Uniswap
Overview of important developments on the evening of March 31
Are you interested in trading cryptocurrency in Hungary? If yes, t -
Bankruptcy lawyers and consultants charged FTX $30 million in fees in February
According to reports, according to the latest compensation report submitted to the bankruptcy court, lawyers and consultants received over $30 million in fees from FTX in February,
-
What is BitShares (BitShares NBS)?
What is BitShares? What is BitShares? The stock code is BTCC.Stocks are a way of
-
Massive Crypto Transaction and Its Implications
It is reported that according to the Twitter user\’s Bit ember monitoring, 15 minutes ago, 0x927b024a75a4f286f63cc38db3fc0d6f2c45feb0 multi-signature address tr…
-
Understanding the Transfer of ARBs to Wintermute Trading Addresses
According to reports, Lookonchain monitoring data shows that $50 million of ARBs have been transferred to addresses related to Wintermute Trading (market makers), possibly in prepa
-
Beware of the BingChatGPT Token Scam
According to reports, PeckShield monitoring data shows that there have been dozens of newly created BingChatGPT tokens, three of which seem to be honeypot scam…
-
Binance Closes BNB Smart Chain Recharge Coins for Upgrade
According to reports, Binance officially stated that the BNB Smart Chain (BEP20) recharge coin has now been closed. The expected duration is 30 minutes – after the upgrade is compl
-
Impossible Cloud raises $7 million in seed round financing
It is reported that the decentralized cloud platform Impossible Cloud completed US $7 million of seed round financing, and HV Capital and 1kx led the investmen…
-
Ripple CEO Applauds EU’s Wise Approach to Cryptocurrency Regulation
According to reports, with the passage of Cryptocurrency Market (MiCA) legislation by the European Parliament, Ripple CEO Susan Friedman recently praised the EU\’s progressive appro
-
El Salvador’s Bitcoin Purchase Triggered Over 62% Price Surge
According to a report from Bitcoin Magazine, since El Salvador announced the start of purchasing one BTC per day, the price of BTC has increased by more than 62%. BTC prices have risen by more than 62% since El Salvador announced the start of purchasing one BTC per day Analysis based on this information:El Salvador, a Central American country, made a historic move in June 2021 by becoming the first country in the world to adopt Bitcoin as legal tender. According to a report from Bitcoin Magazine, the country announced the start of purchasing one Bitcoin (BTC) per day as part of its reserve assets. Surprisingly, since then, the price of BTC increased by more than 62%. The news of El Salvador’s adoption of Bitcoin created waves in the global crypto market, and the price surge was noticeable. El Salvador’s Bitcoin acquisition plan had a significant impact on the market, and the country’s move to use crypto as a parallel…