ShibArmy is marching away from their base. The massively popular memecoin Shiba Inu (SHIB) token is down nearly -40% over the last 6 months. And while it’s up 53% on the year, the ‘dogecoin killer’ holders aren’t holding their breath or tokens. A horde of users have left the $SHIB behind to move into the token presale offer of Bitnance, a new bep-20 alternative to Bitcoin.
The rush of Shiba Inu token traders moving into the $BTN token’s initial coin offering has sent the presale to over 52,000 tokens sold.
Far from the end goal, the BEP-20 token is just ‘revving up’ in sales it appears. And aside from Shiba Inu traders it’s also because the official presale page just added Ethereum & USDT as accepted forms of payment.
What is Bitnance Token Presale & Why Are Traders Buying In?
Bitnance’s ICO launch [see here] comes on the heels of two other major cryptocurrency brands being affiliated to a BTC alt-coin.
Coinbase announced it’s launching a wrapped Bitcoin, “$CBBTC” or “Coinbase BTC.” The tokenized store-of-value is meant to help amplify the ecosystem of the world’s biggest cryptocurrency. It’s not exactly competition but it will give the popular crypto exchange more benefits from its users that want to own BTC.
Mollars (MOLLARS) token, which is a store-of-value token on the Ethereum-Blockchain, is the first ERC-20 project of its kind and has been thriving for months. A rival for Bitcoin but a way for Ethereum-Blockchain’s crypto traders to access a store of value for lower fees, Mollars has been increasing in value at a faster pace than Bitcoin for nearly a month now.
Bitnance is the BNB-Chain’s first tokenization of similar nature to these. The new $BTN token will offer the same exclusivity and anti-inflation power as Mollars and Bitcoin, but on the blockchain of the world’s biggest crypto exchange.
Crypto Traders See The Likelihood of a +30% ROI on Bitnance
Shiba Inu (SHIB) and BEP-20 token holders could be rushing to this project simply for listing day gains.
Currently Bitnance (BTN) is being sold in its presale stage for $0.357 [cents]. A scan of the token’s whitepaper reveals it will be listed on exchanges for $0.465 [cents]. The difference between the discounted ICO price of today and listing day is a positive return on investment of +30% for investors.Simple terms, a $1000 investment would return investors $1300, which is a $300 gain.
How many use BNB-Chain and BEP-20 tokens?
However, it’s the long term hold that should have traders captivated.
The BNB-chain and BEP-20 ecosystems are huge. Binance.com crypto exchange has over 170-million users. The Binance Blockchain daily has reached nearly 1.8M daily active address just this month, August 2024. If the branding of Bitnance becomes strong with these audiences, the extremely low 10-million token supply could sell out and go into a parabolic shift upward in value.
In comparison, Bitcoin has had only 81-million users. The Binance exchange, which opens a door to all BEP-20 tokens, has over double the number of users and growth potential.
This is why holding tokens like Bitnance is important for many traders. The “long game” could be far more profitable than the listing day yields of +30%.
A realistic ROI yield for 1 year could be as high as +530%, which would mean a token price of $2.25.
How many crypto wallet addresses hold Bitcoin?
The market analyst site Glassnode reports Bitcoin, which is currently worth $59,326 USD, can be found in over 1.3-million addresses. The market cap of the coin is $1.17-Trillion dollars.
This could mean each user is given the high power crypto an increase in value of $0.046 [cents] and contribute about $900k to the market cap by average; though many of the largest investors have hundreds of millions of dollars in BTC, offsetting that average balance by far.
However, these averages could be applied to Bitnance in a non-formal format.
Bitcoin’s total token supply is 21-million coins.
Bitnance Could Generate Long Term Profit Yields As High As +12,288%
Using this data, one could apply that ‘per user value’ to Bitnance (BTN) and assume if only 1,000 addresses actively use BTC, at the same average on market cap as $BTC, it could reach US$46.36 in value; a staggering 12,288% profit yield.
Such numbers may seem odd to novice investors and inexperienced but this tends to happen each year within crypto. Brands like Shiba Inu (SHIB), Bonk Inu (BONK), Kaspa (KAS), Pepe (PEPE), and even Bitcoin (BTC) itself satter such yield margins. They gained investors as high as +15,000,000% ROI yields, with Bonk Inu & Kaspa being this year; stud investments of 2024.
But of course, only time can bring clarity on Bitnance’s (BTN) true potential post presale. Listing day yields of +30% are enough to most wise investors as precious metals like gold, have rarely even seen that much of an ROI in less than 2 years.
Bitnance (BTN) Token Looks To be a Utility For Investors Wanting to Fight off Fiat Currency Inflation
Beyond the profit grabs however, there is also the growing trend of investors moving towards store-of-value tokens like Bitnance. This is to fight off the loss of value in fiat currencies. As the almighty dollar woes continue and inflation soars, traders who may prefer the BEP-20 network or simply like to trade for spot opportunities, could be soon begin to buy into the $BTN token presale to stave-off fiat currency inflation and reap crypto moon shot yields.
All of these ‘trendy’ patterns are simply hypotheses for now. If the Bitnance token presale reaches the milestone of 5,000 addresses having completed purchases however, which Shiba Inu (SHIB) traders can do alone, the listing day could be a headline that will make all procrastinators wish they had grabbed the latest store-of-value token.
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Coingape Staff
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
