Ethereum ETFs outperform Bitcoin, but new listing BitNance offers an alternative

As ethereum ETFs gain traction and bitcoin loses momentum, investors are turning to new and emerging tokens.

It’s been a month since ethereum ETFs were launched and current data shows that ethereum is gradually making inroads in the ETF space. Meanwhile, bitcoin ETFs have lost some of the momentum they initially had. However, in terms of numbers, bitcoin still has the upper hand with $49 billion in assets, while ethereum ETFs have only managed around $7 billion.

However, despite all this momentum, the btc price has fallen even further over the past 24 hours, reaching $59,377 at press time. This drop is prompting investors to venture into new, unexplored corners of the crypto space. Among the new entrants is an interesting new low-supply token: BitNance.

BitNance (BTN) is a store of value token that runs on the BNB Smart Chain (BSC). It has a supply of 10 million tokens, of which 5.6 million have been allocated for pre-sale. 2.75 million are reserved for centralized exchanges and the rest of the supply will be used as initial liquidity on listing day. This gives early investors and adopters a chance to increase their profits before it is sold to the general public.

The current pre-sale price of a token is set at $0.357. However, the expected price once the token is listed on exchanges is projected to be $0.465.

While some projects explore dynamic supply mechanisms to weather market fluctuations, BTN takes a more conservative approach, capping the supply at less than 11 million coins. This is similar to the original bitcoin whitepaper design and is an effort to establish long-term stability despite the market’s notorious volatility. For this reason, there are several analysts calling BTN the new “bitcoin on the Binance blockchain.”

But this is not the only reason for this comparison. Like bitcoin, it is a fully decentralized network that allows investors to trade and make transactions without a central authority. BitNance’s founders have given up control over contracts. Also, like bitcoin, BitNance aims to be not only a cryptocurrency, but also a store of value and a hedge against inflation.

With BitNance reporting 60,000 tokens sold in its pre-sale, this new coin is on the radar of analysts and investors. The BitNance team also hints that there could be a crypto product with BTN as the native currency during the last days of its pre-sale.

All of this shows that the BitNance project is certainly exciting. But only time will tell if it is worth it. New projects, especially those with a small supply like BTN, can be very volatile. Investors should be especially cautious when parting with their money.