Disclosure: This article does not represent investment advice. The content and materials appearing on this page are for educational purposes only.
Liquidity has started to flow into lower market cap coins as ethereum Express gains just under 30% in 24 hours while most of the top 10 altcoins are in the red.
Meanwhile, the newly launched bitcoin Minetrix is also making headway, reaching $5.5 million in ongoing pre-sales. Will this rally be like ethereum Express?
ethereum Express pumps after BRC-20 announcement
ethereum Express is a blockchain that aims to become a “faster, more secure, and cheaper Layer 1 network” and leverages the ethereum Virtual Machine (EVM).
The network offers tools such as a self-built browser called ETEscan, a decentralized exchange (DEX), a native wallet, and ERC-20 bridges.
It is also listed on some notable centralized exchanges including LBank, MEXC, and Bitget.
The project launched in September and initially rallied but quickly sold out, as seen in the price chart below.
However, a team announcement Dec. 5 catalyzed a new wave of hype, fueled by enthusiasm for incoming liquidity from the BRC-20 ecosystem.
BRC-20 is a token standard on the bitcoin network. It offers greater functionality and multiple BRC-20 tokens have reached a market capitalization of over $1 billion before listing on top-tier exchanges.
The ethereum Express announcement said: “We will launch the broadcast of registrations on our ETE chain in two weeks, with a total amount of 2100, and each broadcast consumes 10,000 WETE.”
The price of ETE rose from $0.0124 to $0.135 in the following days.
Then, after a brief pullback, it started pumping again, fueled by activity on the HTX exchange.
HTX is running a competition called PrimeVote, which uses a list voting mechanism that allows users to choose their favorite project to include on the exchange.
ethereum Express recently noted which occupies first place in its category, indicating that it could soon be listed on the prominent exchange.
the team too secured a partnership with UZX DAO Exchange to forge a “co-governance community, fostering a truly open, transparent and community-driven decentralized blockchain ecosystem.”
Another project focused on a transparent and decentralized blockchain infrastructure is bitcoin Minetrix. It is a staking cryptocurrency for mining whose pre-sale is ongoing.
bitcoin Minetrix pre-sale rises above $5.5 million
crypto-news.care/” target=”_blank” rel=”noopener”>bitcoin Minetrix allows users to mine bitcoin in the cloud.
Customers don't need specialized hardware or technical knowledge to get started, making it beginner-friendly and bringing value to the bitcoin network.
It works by users staking BTCMTX in exchange for bitcoin mining credits. They can burn these credits to gain cloud mining power, which translates to free bitcoin.
BTCMTX's central role means there will be demand, while supply will be limited as most tokens will be locked for staking.
This has generated interesting price predictions from analysts.
Small Cap Gem Hunter Jacob Bury and No Bs cryptocurrencies Expect BTCMTX to recover.
bitcoin Minetrix, unlike other cloud mining solutions, focuses on decentralization and transparency.
This eradicates the risk of cloud mining scams as money does not change hands throughout the process; Users simply stake their tokens on the blockchain.
Another advantage is that it is built on top of ethereum, so users can start from an ethereum-compatible wallet like MetaMask. This makes it much more accessible, strengthening its potential user base.
Disclosure: This content is provided by a third party. crypto.news does not endorse any products mentioned on this page. Users should conduct their own research before taking any action related to the company.