- Within a week of its launch, Bitecoin has become one of the most talked about projects, gaining 85,000,000% in a week.
- Bitecoin is a BSC-based rebase project that rewards its $BITC holders with 2% bitcoin.
- The project has already been listed on PancakeSwap, CoinMarketCap, and CoinGecko.
- Bitecoin has revealed plans to launch iOS and Android apps with exclusive functionalities in the future.
Bitecoin is a special token that offers 2% BTC rewards and rebase functionality. As a rebase token, the circulating supply of $BITC will automatically adjust (increasing or decreasing) according to fluctuations in its price.
This means that, after buying $BITC, they may increase or reduce in number, but the value will remain the same. Although Bitecoin has only been available for a short time, having launched on January 10th, the project has caught the attention of many, and rightfully so.
The rapid price rise of Bitecoin has been one of the major reason for its recent popularity. Within a week of its launch, Bitecoin ($BITC) had amassed over 85,000,000% in gains, making it one of the most profitable starts of any crypto asset to date.
Over the last week, the price of Bitecoin has risen from $0.000000001 to $0.03233 at the time of this writing. Shortly after its rapid price rise, Bitecoin dropped by close to 50% on January 17th, but quickly recuperated, raking in additional gains.
The seven day price chart for Bitecoin ($BITC). Source: Coinmarketcap
Over the last 24 hours, Bitecoin has gained 420% in value, topping the list of best crypto performers once again. The rebate token is currently trading at $0.03233. Bitecoin has a self-reported circulating supply of 610,000 $BITC.
The 24 hour price chart for Bitecoin ($BITC). Source: Coinmarketcap
As a new token that is still in its early stages, the market cap of Bitecoin ($BITC) is not yet being tracked.
In addition to being a rebase token, Bitecoin will be giving 2% Bitcoin rewards to all $BITC holders. According to its roadmap, all users need in order to be eligible to receive BEP-20 Bitcoin rewards is to hold $BITC in their wallets.
The Bitecoin whitepaper puts its expected token supply at 1,000,000,000,000,000, with the token distribution for $BITC being as follows:
- Marketing – 5%
- Development team – 5%
- Burn – 39%
- Presale – 30%
- Pancake Liquidity Pool – 21%
Setting its minimum buy at 0.1 BNB, and maximum purchase at 1 BNB, the presale of Bitecoin was filled just 40 minutes after its opening, making it one of the fastest events of the crypto space.
Since its launch on January 10th, Bitecoin has been officially released on PancakeSwap V2. Additionally, its applications to have $BITC listed on CoinMarketCap and CoinGecko were approved on January 11th and 13th, respectively.
The next project on the Bitecoin roadmap is the launch of its v1.0 dApps rewards platform. According to the roadmap, Bitecoin intends to release its rewards platform with MetaMask and WalletConnect.
The next phase in the development of Bitecoin itself involves the release of its mobile app. Although Bitecoin revealed that it would be launching iOS and Android apps with exclusive functionalities, an expected release date has not yet been stated.
On the Flipside
- While claiming to be a game-changing crypto project, Raj A Kapoor, founder of India Blockchain Alliance, opines that the project is unsustainable.
- Kapoor notes that “Partaking in token sales and supporting compliance is a good concept, but their white papers do not clearly articulate this.”
Despite being a newly launched project, Bitecoin has caught the interest of a number of people. Twitter user, @paddy_9939 had this to say about the project:
Another user, Kush Katakia, wrote this about Bitecoin:
Bitecoin has zoomed 8,57,63,221% over the past 1 week. The currency has turned an invt of Rs 1,000 into a mind-boggling Rs 85.76 cr in 1 week. The penny token has witnessed a rally of 19,650% in the last one day as it zoomed to $0.0006462 from $0.000003271 in the last 24 hours.
— Kush Katakia (@kushkatakia) January 17, 2022
Why You Should Care
Bitecoin launched with a new initiative and has already raked in respectable gains. By incentivizing $BITC token holders, Bitecoin has developed a model in which all investors are given a persuasive reason to buy and hold $BITC.
Please note this should not be considered investment advice. Investment in projects should be made only after personal research.