Although the broader market was relatively subdued, the Bitcoin Minetrix presale was active, pushing the amount raised to over $10.3 million. Some supporters now believe that Bitcoin Mintrix (BTCMTX) will surpass top coins such as Bitcoin (BTC) and Ethereum (ETH) by 2024.
The project adds value to the ecosystem by integrating an equity-mining model for utilities.
BTCMTX vs BTC and ETH
Since Bitcoin and Ethereum are considered the safest (least volatile) cryptocurrencies, market participants often expect greater returns when purchasing other projects.
Newer coins typically have lower market caps and therefore have higher upside potential.
Meanwhile, the prices of Bitcoin and Ethereum are less volatile during each market cycle due to increased liquidity due to expanding market capitalization.
Bitcoin Minetrix is expected to be listed on various exchanges at a later stage. Some investors are planning to take advantage of the opportunity.
Bitcoin Minetrix’s Stake vs. Mining Model
Bitcoin Minetrix takes a new approach to one of cryptocurrency’s most pressing problems: Bitcoin mining.
This project created a cloud mining solution on Ethereum to allow users to mine Bitcoin.
No specialized hardware or technical expertise is required. This solves the problem of high start-up capital and technology requirements to start mining Bitcoin.
Bitcoin Minetrix makes it easy for anyone to get started.
To get started, users need to stake BTCMTX in exchange for receiving Bitcoin mining credits. You can then burn these credits for cloud mining power, mining BTC.
Previous cloud mining solutions were considered shady due to a series of scams.
The Bitcoin Minetrix white paper highlights this issue, explaining that cloud mining protocols would present “undue complexity” by luring investors with significant profits and then having users deposit more cash.
However, Bitcoin Minetrix believes in transparency and fairness and ensures that all transactions are recorded on chain.
Additionally, thanks to the stake-to-mine model, no cash changes hands in Bitcoin Minetrix.
Will Bitcoin Halving Affect BTCMTX?
The Bitcoin halving is associated with the start of a bull market for all cryptocurrencies.
This event, scheduled for early April 2024, will halve miner rewards, creating a supply and demand mismatch in the market.
These developments could push prices higher, and altcoins like BTCMTX could also rise thanks to the project’s correlation with Bitcoin.
The value of Bitcoin Minetrix is tied to the price of Bitcoin because Bitcoin Minetrix users receive real BTC rewards.
Bitcoin Minetrix Token Economics and Presale
Bitcoin Minetrix solves the mining problem but uses BTCMTX to capture value.
BTCMTX is key to earning rewards and can be staked, thus relieving token selling pressure.
Additionally, staking rewards are primarily paid out in mining credits rather than BTCMTX. This is different from most other staking coins that pay rewards in native tokens, which puts them under constant selling pressure.
42.5% of Bitcoin Minetrix tokens are allocated to Bitcoin mining, 35% to marketing, 12.5% to staking and 10% to the community.
Currently in the pre-sale phase, BTCMTX sells for $0.0133.
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