EVM Chains like Polygon, Avalanche, and Ethereum see massive outflows to Bitcoin Spark

Bitcoin Spark is brewing dust as investor interest in BTCS spreads across various blockchain networks. Notably, Ethereum Virtual Machine (EVM) chains such as Polygon, Avalanche, and Ethereum have experienced outflows, with a growing trend of capital flowing towards an emerging asset, Bitcoin Spark

Polygon (MATIC)

The SEC’s classification of Polygon as a security caused a significant drop in its trading value, with Polygon MATIC Price registering a low of $0.58. In an effort to adapt to the regulatory challenges, the creators of Polygon (MATIC) rebranded, although some analysts believe the rebranding is an attempt to circumvent SEC regulations and boost the appearance of Polygon’s (MATIC) price performance. 

AVAX Price prediction

Avalanche is a blockchain platform designed as an Ethereum alternative, emphasizing scalability and fast transactions. Its native token, AVAX, serves various purposes, including paying fees, securing the network, and acting as a unit of account. Launched in 2020, Avalanche aims for near-instant transaction finality and high TPS. It uses a unique consensus mechanism, allowing AVAX holders to govern the coin creation rate through voting. Transaction fees vary and are burned, reducing token supply over time. Despite recent price fluctuations, AVAX Price prediction considers it a promising long-term investment. However, outflows are evident in favor of Bitcoin Spark. 

Is ETH a good investment?

The Ethereum network is a leader in the DeFi sector, offering secure execution of smart contracts for financial transactions. It enables the creation and trading of NFTs and supports various dApps. While Ether (ETH) supply is technically unlimited, the Ethereum “Merge” slows token creation, possibly leading to deflation as more ETH is burned than created annually. As a result, the circulating supply of ETH decreased between January and July 2023. Ethereum’s price stagnation at around $1,800 contributes to investors diversifying into the new project, Bitcoin Spark. In addition, Ethereum’s network congestion and high gas costs have led developers to explore alternatives.

Bitcoin Spark (BTCS)

Bitcoin Spark is a cutting-edge initiative striving to remedy Bitcoin’s high transaction costs and moderate the mining process. Bitcoin Spark uses an all-new blockchain technology called “Proof-Of-Process” (PoP). PoP combines proof of stake and proof of work mechanisms. The platform leverages smart contracts and fast transaction speeds while also democratizing mining through computational power rentals, making it accessible to all.

Bitcoin Spark revolutionizes mining reward distribution, avoiding linear increments based on computational power. This strategy mitigates the mining dominance of a few entities. BTCS’s revenue-based system ensures sustainable and reduced mining rewards as revenue inflows grow, ensuring self-sufficiency and profitability for participants. 

Bitcoin Spark deploys a user-friendly application compatible with various operating systems like Android, Windows, iOS, Linux, and Mac OS. It operates in a secure virtual environment, ensuring safe transaction processing and preventing interference with other phone capabilities or files. The software is smart enough to adjust its processing power according to the user’s needs. Additionally, the app doubles up as a crypto wallet.

Bitcoin Spark App

BTCS will launch its ICO on August 1, with an initial price of $1.50. Early BTCS adopters will enjoy a 20% bonus, presenting an opportunity for potential gains of over 800% on their investment. BTCS will launch at $10, and one can only imagine being able to buy Bitcoin when it was only 1$. 

Wrap up 

Bitcoin Spark’s entry has triggered significant outflows from EVM chains and gives credibility to a promising new blockchain platform, Bitcoin Spark’s innovative approach, including its unique proof-of-process system and additional revenue sources, has captured the attention of investors and participants in the cryptocurrency market.

Learn more on Bitcoin Spark here:-

Website: https://bitcoinspark.org/

Buy BTCS: https://network.bitcoinspark.org/register

Mark Peterson

Mark Peterson has been following the crypto market for the past seven years. As a crypto news journalist, he has recently joined our team. He regularly delivers the most recent happenings of the crypto space. He enjoys writing poems and exploring various crypto trading platforms in his spare time.

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