{"id":438198,"date":"2023-09-11T16:28:21","date_gmt":"2023-09-11T16:28:21","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=438198"},"modified":"2023-09-11T16:28:21","modified_gmt":"2023-09-11T16:28:21","slug":"bitcoin-price-faces-strain-amid-268m-ftx-sales-while-bitcoin-bsc-crypto-presale-surpasses-1-million-mark","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-faces-strain-amid-268m-ftx-sales-while-bitcoin-bsc-crypto-presale-surpasses-1-million-mark","title":{"rendered":"Bitcoin Price Faces Strain Amid $268m FTX Sales, While Bitcoin BSC Crypto Presale Surpasses $1 Million Mark"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Bitcoin price is languishing around $25,000, but <\/span><a href=\"https:\/\/insidebitcoins.com\/visit\/bitcoinbsc\" rel=\"nofollow\"><span style=\"font-weight: 400;\">Bitcoin BSC<\/span><\/a><span style=\"font-weight: 400;\"> has other ideas as it blasts past $1 million in presale contributions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&lsquo;Bitcoin on BNB Smart Chain&rsquo; coin Bitcoin BSC ($BTCBSC) has received contributions of $1,088,549 as it hit its quarter milestone in less than a week and speeds toward its target total of $3,960,000, despite bearish ructions in the broader crypto market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">News emerged last week that the bankruptcy court was likely to allow failed exchange FTX to sell down its crypto holdings to go some way toward making creditors whole again.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Among the top coins under selling pressure are Solana, Bitcoin, and Ethereum, as FTX looks to unload $200 million worth of crypto weekly.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of April this year, the new team at FTX had discovered $3.4 billion in crypto assets held by the bankrupt exchange allegedly run as a personal piggy bank by CEO Sam Bankman-Fried.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">FTX&rsquo;s Bitcoin stash, valued at $263 million, is in the mix to be sold. It could be that FTX can line up several big over-the-counter deals that do not affect the price of the coins it is selling, which would devalue the holdings it wants to sell later.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Still, it is unlikely that all the FTX sales, which are due to start as soon as this Wednesday, can be kept off the spot markets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The harmful impact of the FTX collapse in November last year is yet to dissipate, but some areas of the crypto market remain unaffected and continue to thrive &ndash; Bitcoin BSC, take a bow.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">FTX is expected to receive approval to liquidate the following assets on September 13th.<a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a> $685,000,000<a href=\"https:\/\/twitter.com\/search?q=%24FTT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$FTT<\/a> $529,000,000<a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> $268,000,000<a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> $90,000,000<a href=\"https:\/\/twitter.com\/search?q=%24APT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$APT<\/a> $67,000,000<a href=\"https:\/\/twitter.com\/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$DOGE<\/a> $42,000,000<a href=\"https:\/\/twitter.com\/search?q=%24MATIC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MATIC<\/a> $39,000,000<a href=\"https:\/\/twitter.com\/search?q=%24BIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BIT<\/a> $35,000,000<a href=\"https:\/\/twitter.com\/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$TON<\/a> $31,000,000<a href=\"https:\/\/twitter.com\/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$XRP<\/a> $29,000,000<\/p>\n<p>They had $3.4&hellip; <a href=\"https:\/\/t.co\/ydEohN23EX\">pic.twitter.com\/ydEohN23EX<\/a><\/p>\n<p>&mdash; Crypto Rover (@rovercrc) <a href=\"https:\/\/twitter.com\/rovercrc\/status\/1700575710484541843?ref_src=twsrc%5Etfw\">September 9, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Bitcoin BSC: The Safe Haven You&rsquo;ve Been Seeking<\/h2>\n<p><span style=\"font-weight: 400;\">In recent weeks a noteworthy trend has emerged that has seen version 2 of the original coins being launched. Such coins first popped up in arguably less severe corners of the crypto world.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We&rsquo;ve seen Pepe 2.0, Dogecoin 2.0, Shiba Inu 2.0, and Bitcoin 2.0 come and go.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A meme coin called HarryPotterObamaSonic10Inu (HPOS10I) that cheekily appropriated the ticker BITCOIN jumped in with its version of &lsquo;bitcoin&rsquo; too. At its height, the coin gained 66,000% on its listing price. Those gains have since shrunk to 15,000% &ndash; but that&rsquo;s still an enormous profit for early buyers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the bullish price action is not found in the actual Bitcoin market, plenty is going on in the Bitcoin derivative and clone markets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Alongside the stratospheric gains of HPOS10I are the successes of the longstanding forked derivatives of Bitcoin, like Bitcoin Cash, Bitcoin BSV, Bitcoin Gold, and many others we could name.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For instance, Bitcoin Cash has consistently outperformed Bitcoin since late August.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Yet, remarkably, there is a trend within this trend that catches the eye. A recent crop of version 2 coins has adopted a staking feature as one of their unique selling points. BTC20 is one such coin, and Bitcoin BSC is another.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While Bitcoin flounders, <\/span><a href=\"https:\/\/www.dextools.io\/app\/en\/ether\/pair-explorer\/0xd50c5b8f04587d67298915e099e170af3cd6909a\"><span style=\"font-weight: 400;\">BTC20<\/span><\/a><span style=\"font-weight: 400;\"> at the start of this week was trading up 35% since its launch barely a month ago &ndash; a significant feat given the general deterioration in market conditions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although it hasn&rsquo;t yet reached the 500x gain of HPOS10I, BTC20 did touch an all-time intraday high of $5.9 in its first week after listing on the decentralized exchange Uniswap for a return of nearly 7x.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If Bitcoin is a relatively safe haven when altcoins are hemorrhaging value as the FTX fears mount, then alternative coins with increasing staking utility look like they are the even safer option.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That probably explains why more than $1 million has flowed into the Bitcoin BSC presale from crypto investors seeking to diversify their portfolios and preserve capital.<\/span><\/p>\n<p>https:\/\/twitter.com\/Bitcoinbsctoken\/status\/1700902012005629992<\/p>\n<h2>Leveraging Bitcoin BSC Staking: Making Your Coins Work for Passive Earnings<\/h2>\n<p><span style=\"font-weight: 400;\">Staking provides token holders with a way of earning token rewards in proportion to how many coins of the total pool they deposit into a staking smart contract and the time they choose to stake for.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This staking feature will deliver price support while offering both positive capital returns and income yield to network participants.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin BSC staking is live now, even before the coin lists on the decentralized exchange PancakeSwap.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The attractiveness of Bitcoin BSC staking lies in its transparent structure, unlike the complex algorithms underpinning protocols like Terra Luna, which imploded, giving staking a lousy name.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Read the <\/span><a href=\"https:\/\/bitcoinbsc.io\/assets\/documents\/whitepaper.pdf\"><span style=\"font-weight: 400;\">Bitcoin BSC whitepaper<\/span><\/a>; it clarifies<span style=\"font-weight: 400;\">&nbsp;where the tokens to pay the rewards come from. Set out in its tokenomics is the stipulation that 69% of the total token supply is allocated to reward distributions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Like BTC20, Bitcoin BSC mimics the block production of the original Bitcoin. It rolls back to 2011 when bitcoin was priced at around $1 &ndash; hence, the price of $BTCBSC is set at $0.99.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It has the same block production rate as bitcoin, which means the rewards will cease in 120 years. The rewards a staker receives depend on their share of the overall staking pool and the time the coins are staked.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Out of the total supply of 21 million, <\/span><span style=\"font-weight: 400;\">6,125,000<\/span><span style=\"font-weight: 400;\"> tokens are up for grabs in the presale, with the rest to be released over the next 120 years.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To date, more than half a million (see screenshot below) $BTCBSC has been deposited into the staking smart contract by token owners.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The annual percentage yield is currently a massive 447%, although that percentage will steadily decline as more coins are added to the pool.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Again, similarly to bitcoin, new blocks are produced every 10 minutes.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With $BTCBSC, which runs on the BNB Smart Chain, the yield is paid out over 120 years, in line with Bitcoin block confirmations. Altogether, 69% of the total token supply is allocated to distribute as rewards.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There&rsquo;s a 7-day withdrawal lock on staked coins. To start earning yield before the presale ends, purchasers must pay with BNB.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can monitor how many token holders are staking by visiting the real-time <\/span><a href=\"https:\/\/www.bitcoinbsc.io\/en\/dashboard\"><span style=\"font-weight: 400;\">Bitcoin BSC staking dashboard<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stay up-to-date with all project news by following the <\/span><a href=\"https:\/\/twitter.com\/Bitcoinbsctoken\"><span style=\"font-weight: 400;\">X (formerly Twitter)<\/span><\/a><span style=\"font-weight: 400;\"> account and joining the <\/span><a href=\"https:\/\/t.me\/Bitcoinbsctoken\"><span style=\"font-weight: 400;\">Telegram channel<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2>Additional Reasons to Opt for Bitcoin BSC Over Bitcoin<\/h2>\n<p><span style=\"font-weight: 400;\">Staking is not the only advantage BTCBSC has over Bitcoin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">First, $BTCBSC uses a proof-of-stake protocol, which means it runs on a much more scalable blockchain that is cheaper and more efficient to transact on. $BTCBSC is a green version of Bitcoin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Then there&rsquo;s the fact that $BTCBSC is built on the BNB Smart Chain. That design decision means that transaction fees are less than $0.10, compared to around $10 on Bitcoin and approximately $20 on Ethereum, depending on network conditions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Transaction fees are not just cheaper. They are way faster, too. $BTCBSC transaction speeds are less than 5 seconds compared to 10 minutes for Bitcoin, BCH, and BSV.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finally, all the advantages flow from it being an application layer, unlike Bitcoin. The BNB Smart Chain runs applications of all sorts, which means there is a limitless horizon of possible future development for Bitcoin BSC.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A relatively small investment now in Bitcoin BSC could quickly turn into 5x or even 100x gains. But because of staking, you don&rsquo;t have to fixate on immediate improvements because you know you can deposit and earn a sizeable yield as passive income.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin BSC is one of the most tempting value propositions in crypto today. Buy with BNB, ETH, or USDT. The minimum purchase amount is $10.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">The Bitcoin price is languishing around $25,000, but Bitcoin BSC has other ideas as it blasts past $1 million in presale contributions. &lsquo;Bitcoin on BNB <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/bitcoin-price-faces-strain-amid-268m-ftx-sales-while-bitcoin-bsc-crypto-presale-surpasses-1-million-mark\" title=\"Bitcoin Price Faces Strain Amid $268m FTX Sales, While Bitcoin BSC Crypto Presale Surpasses $1 Million Mark\">[&#8230;]<\/a><\/div>","protected":false},"author":1872,"featured_media":438202,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[],"class_list":["post-438198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - 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