Growth is detrimental to the success of altcoins. Altcoins need to adapt to changing environments with new technology to remain relevant and outperform competition from other altcoins and new start-ups. Investors have the challenge of finding these start-ups before everyone does to take advantage of discounted prices and accumulate capital gains as the project rises above the ranks. High utility projects tend to move the most during bull markets and are desired by investors for their known characteristics of withstanding harsh conditions during bear markets. This new Bitcoin alternative depicts a possible change in market sentiment by attracting whales and institutions to invest in the platform.
Will crypto start to recover?
According to historical data, the crypto market has moved in market cycles fueled by investor sentiments such as fear and greed. Fear speculates a bearish market, and investors are likely to liquidate their digital assets due to panic that crypto assets will fall. These sentiments see massive outflows from existing projects as investors seek greener pastures. The current bear market has been going on for months, fueled by regulators and financial watchdogs who declared war on crypto at the beginning of the year.
However, tough times never last. Bitcoin is slowly recovering after raiding yearly lows, depicting a possible market sentiment shift. This is the perfect time to invest in this new Bitcoin alternative project called Bitcoin Spark.
Bitcoin Spark presents a life-changing opportunity for investors
Missing out on Bitcoin was almost inevitable. The DeFi industry had not grown to the magnitude seen today, and most investors needed to learn about what cryptocurrencies were. However, Bitcoin Spark allows investors to redeem themselves by buying BTCS tokens and holding them for the long run. BTCS tokens are valuable utility tokens that will power the incoming Bitcoin Spark mainnet as gas and utility assets.
Although BTCS exists as ERC-20 tokens, only 4.3 million BTCS tokens have been minted on the Ethereum mainnet out of the maximum 21 million. The devs executed the token mint on the Ethereum network to support the platform’s ICO event ahead of the network launch soon after the ICO ends.
Bitcoin Spark’s ICO event has progressed for weeks, distributing BTCS tokens to whales and retail investors who want to be part of the action. Each BTCS token is available for $2.75, an investment worth 393% more in November when the project launches at $10 per coin.
After the launch, Bitcoin Spark’s proprietary bridging system will facilitate cross-network transactions of BTCS to other platforms, including Ethereum, Binance Smart Chain, and Polygon. The bridging will also accommodate a burning feature to ensure a cross-chain network token balance for existing liquidity pools on the various networks.
The project spearheads transparency by undergoing detailed smart contract audits from different auditing firms, including Contract Wolf, a leading Web3 auditing platform. Other platforms like Vital Block and Cognitos have audited the founders’ KYC identity verification. All reports concerning the audits are publicly accessible using links on Bitcoin Spark’s whitepaper.
Of the 21 million BTCS tokens, 16.45 million will be allocated to mining pools to supply enough reward tokens for network participants. Bitcoin and Bitcoin Spark have the same tokenomics. However, this feature makes Bitcoin Spark much more improved than Bitcoin. By allocating the majority of the tokens to mining pools, it will take longer for the maximum token supply to hit market circulation, which the team predicts will be more than 120 years from the time the first block is mined, promoting growth for the entire duration.
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