Grayscale Outflows Cause $217M in Losses for Crypto Bulls – Best Coin Picks for Recovery
As it currently stands, the approval of Bitcoin ETFs is turning out to be a “sell-the-news” event that’s disrupted the market over the past few weeks.
Bitcoin is barely holding onto the $40,000 straw, as leading altcoins like Ethereum also struggle with finding the right momentum.
So, what are the best coins you can invest in now to see profits?
We checked out what leading analysts, experts, and crypto influencers had to say and found that presale tokens like Bitcoin Minetrix ($BTCMTX), Sponge V2 ($SPONGE), and Meme Kombat ($MK) show the most potential.
Let’s go through the details!
>>>Buy the Best Cryptos Here<<<
Crypto Bulls Lose $217M Due to Grayscale Outflow News – But These Tokens Could Help You Recover Financially
The cryptocurrency market has experienced a significant shake-up, with futures traders who were optimistic about rising crypto prices facing about $217 million in liquidations.
This turbulence comes amidst the ongoing reactions to the approval of spot Bitcoin ETFs. Interestingly, this approval has sparked a “sell-the-news” trend, the complete opposite of what the market expected.
Adding to the volatility is the concern around Grayscale possibly selling a portion of its Bitcoin holdings.
This speculation gained traction following the observation of activities in Grayscale’s Bitcoin Trust (GBTC). Analysis firm Arkham noted that verified wallets associated with Grayscale moved over $400 million worth of Bitcoin to Coinbase Prime, a custody service, last Thursday. This movement is speculated to be a preliminary step towards a potential sale.
Bloomberg Intelligence’s analyst Eric Balchunas highlighted that on Thursday, the shares of GBTC started trading at a 0.9% discount compared to their net asset value. This shift is likely a result of the increased selling pressure in the market.
This is interesting, the Newborn Nine actually saw a 34% jump in volume today vs yesterday. Normally with a hyped up launch you see volume steadily decrease each day post-launch, rare to see it reverse back up. All but one saw jump too but GBTC change flat so wasn’t a volatility… pic.twitter.com/f6xOsLRWjr
— Eric Balchunas (@EricBalchunas) January 18, 2024
With all of this going on, investors are wondering – which tokens could bring a profit in the upcoming weeks?
After analyzing the market and what top analysts are saying, we found that the coins with the most gain potential include Bitcoin Minetrix ($BTCMTX), Sponge V2 ($SPONGE), and Meme Kombat ($MK).
Below, we’ll check out each of these presale coins in detail.
>>>Buy the Best Cryptos Here<<<
Bitcoin Minetrix Brings a New Approach to Cloud Mining and Gathers Investor Interest with Stake-to-Mine Feature
Bitcoin Minetrix ($BTCMTX) is revolutionizing the mining landscape with its innovative stake-to-mine concept. This approach significantly lowers the barriers to entry for cloud mining, making it more accessible.
The project has already garnered significant interest, with over $9 million raised in its presale phase. Additionally, it offers an attractive staking annual percentage yield (APY) of 149%, marking it as a standout in the crypto presale space.
The core of Bitcoin Minetrix’s strategy is to tokenize cloud mining.
By investing in $BTCMTX, the platform’s native cryptocurrency, investors can stake their tokens to earn passive income. This system allows Bitcoin Minetrix to utilize the equipment of established cloud mining companies, which is a cost-effective solution for individual miners.
When users stake their $BTCMTX tokens, they receive cloud mining credits. Users can then ‘burn’ these credits within the ecosystem to obtain Bitcoin cloud mining power. Once the credits are used, the token holders are allotted specific cloud mining times, enabling them to earn a portion of the mining revenues.
This innovative solution was developed in response to the prevalent scams found in many third-party cloud mining operations. By offering $BTCMTX credits, Bitcoin Minetrix empowers users with the autonomy to safely and efficiently generate cloud mining credits.
>>> Buy Bitcoin Minetrix Now<<<
Sponge V2 Is Upgrading the Original Token and Introducing a Stake-to-Bridge Concept that Could Land It on Binance and OKX
Sponge V2 represents the latest iteration of the top-rated $SPONGE meme coin, which saw a remarkable surge in the spring of 2023, reaching a market capitalization of $100 million. With the launch of Sponge V2, meme coin enthusiasts and analysts are anticipating a similar trajectory of growth.
Building upon the established $SPONGE ecosystem, which boasts over 11,500 token holders and a current market cap of $16 million, Sponge V2 aims to expand its reach.
As outlined in the Sponge whitepaper, the team plans to introduce a new play-to-earn game. In this game, players will have the opportunity to engage in races as the character Spongebob Squarepants, earning $SPONGE tokens as they progress through the game.
The development team behind $SPONGE is actively seeking to elevate the token’s presence in the cryptocurrency market. One of their key goals is to secure listings on major exchanges such as Binance and OKX. Achieving a listing on Binance, which is recognized as the world’s largest crypto exchange, could significantly boost the token’s value.
An intriguing aspect of Sponge V2 is its stake-to-bridge mechanism. To acquire V2 tokens, investors must stake and permanently lock their V1 tokens.
Meme Kombat ($MK) Rising as the Top Meme Coin In the Market with 100x Gain Potential Due to Battle Arena and Innovative Gaming Capabilities
Meme Kombat ($MK) stands out as a play-to-earn game that innovatively combines AI, stake-to-earn (S2E) mechanics, and decentralized gaming.
This meme coin project offers real utility and has quickly captivated the crypto community. Within just weeks of its launch, Meme Kombat’s presale has impressively raised over $7.3 million, highlighting its potential and popularity.
The platform offers unique features: outcome-based wagers, crypto staking, and Web3 meme gaming. This integration of popular crypto trends allows Meme Kombat to present an engaging blend of meme culture with interactive staking and gaming.
Users can earn income through staking, with a current annual percentage yield (APY) of 129%, and participate in betting using $MK tokens on battles between various meme characters.
Central to Meme Kombat is its native token, $MK, around which the game revolves. The project focuses on simplifying staking and wagering while offering attractive rewards, including $MK tokens and other prizes for winners.
The Sandbox (SAND) Working on New Capabilities to Enable Crypto Trading
Sandbox operates on the Ethereum blockchain, focusing on helping users craft, purchase, develop, and trade digital assets in a gaming environment.
What sets this project apart is its innovative integration of blockchain technology into video gaming.
The team behind Sandbox is actively engaged in various initiatives aimed at facilitating cryptocurrency transactions within their platform.
They have also established partnerships with over 100 brands, including well-known names like Atari and The Walking Dead. These collaborations have the potential to significantly enhance the project’s growth and value.
>>>Buy the Best Cryptos Here<<<
Conclusion
With the market currently going through a rollercoaster of changes, investors are desperately searching for the next cryptos that can help revive their portfolios.
And we might’ve found them.
Presale tokens like Bitcoin Minetrix ($BTCMTX), Sponge V2 ($SPONGE), and Meme Kombat ($MK) are all showing strong signs of profit potential.
The best part is, you can still get them for an incredibly low price and join the early bird club before the 50-100x profits come!
Join our WhatsApp and Telegram Community to Get Regular Top Tech Updates
As it currently stands, the approval of Bitcoin ETFs is turning out to be a “sell-the-news” event that’s disrupted the market over the past few weeks.
Bitcoin is barely holding onto the $40,000 straw, as leading altcoins like Ethereum also struggle with finding the right momentum.
So, what are the best coins you can invest in now to see profits?
We checked out what leading analysts, experts, and crypto influencers had to say and found that presale tokens like Bitcoin Minetrix ($BTCMTX), Sponge V2 ($SPONGE), and Meme Kombat ($MK) show the most potential.
Let’s go through the details!
>>>Buy the Best Cryptos Here<<<
Crypto Bulls Lose $217M Due to Grayscale Outflow News – But These Tokens Could Help You Recover Financially
The cryptocurrency market has experienced a significant shake-up, with futures traders who were optimistic about rising crypto prices facing about $217 million in liquidations.
This turbulence comes amidst the ongoing reactions to the approval of spot Bitcoin ETFs. Interestingly, this approval has sparked a “sell-the-news” trend, the complete opposite of what the market expected.
Adding to the volatility is the concern around Grayscale possibly selling a portion of its Bitcoin holdings.
This speculation gained traction following the observation of activities in Grayscale’s Bitcoin Trust (GBTC). Analysis firm Arkham noted that verified wallets associated with Grayscale moved over $400 million worth of Bitcoin to Coinbase Prime, a custody service, last Thursday. This movement is speculated to be a preliminary step towards a potential sale.
Bloomberg Intelligence’s analyst Eric Balchunas highlighted that on Thursday, the shares of GBTC started trading at a 0.9% discount compared to their net asset value. This shift is likely a result of the increased selling pressure in the market.
This is interesting, the Newborn Nine actually saw a 34% jump in volume today vs yesterday. Normally with a hyped up launch you see volume steadily decrease each day post-launch, rare to see it reverse back up. All but one saw jump too but GBTC change flat so wasn’t a volatility… pic.twitter.com/f6xOsLRWjr
— Eric Balchunas (@EricBalchunas) January 18, 2024
With all of this going on, investors are wondering – which tokens could bring a profit in the upcoming weeks?
After analyzing the market and what top analysts are saying, we found that the coins with the most gain potential include Bitcoin Minetrix ($BTCMTX), Sponge V2 ($SPONGE), and Meme Kombat ($MK).
Below, we’ll check out each of these presale coins in detail.
>>>Buy the Best Cryptos Here<<<
Bitcoin Minetrix Brings a New Approach to Cloud Mining and Gathers Investor Interest with Stake-to-Mine Feature
Bitcoin Minetrix ($BTCMTX) is revolutionizing the mining landscape with its innovative stake-to-mine concept. This approach significantly lowers the barriers to entry for cloud mining, making it more accessible.
The project has already garnered significant interest, with over $9 million raised in its presale phase. Additionally, it offers an attractive staking annual percentage yield (APY) of 149%, marking it as a standout in the crypto presale space.
The core of Bitcoin Minetrix’s strategy is to tokenize cloud mining.
By investing in $BTCMTX, the platform’s native cryptocurrency, investors can stake their tokens to earn passive income. This system allows Bitcoin Minetrix to utilize the equipment of established cloud mining companies, which is a cost-effective solution for individual miners.
When users stake their $BTCMTX tokens, they receive cloud mining credits. Users can then ‘burn’ these credits within the ecosystem to obtain Bitcoin cloud mining power. Once the credits are used, the token holders are allotted specific cloud mining times, enabling them to earn a portion of the mining revenues.
This innovative solution was developed in response to the prevalent scams found in many third-party cloud mining operations. By offering $BTCMTX credits, Bitcoin Minetrix empowers users with the autonomy to safely and efficiently generate cloud mining credits.
>>> Buy Bitcoin Minetrix Now<<<
Sponge V2 Is Upgrading the Original Token and Introducing a Stake-to-Bridge Concept that Could Land It on Binance and OKX
Sponge V2 represents the latest iteration of the top-rated $SPONGE meme coin, which saw a remarkable surge in the spring of 2023, reaching a market capitalization of $100 million. With the launch of Sponge V2, meme coin enthusiasts and analysts are anticipating a similar trajectory of growth.
Building upon the established $SPONGE ecosystem, which boasts over 11,500 token holders and a current market cap of $16 million, Sponge V2 aims to expand its reach.
As outlined in the Sponge whitepaper, the team plans to introduce a new play-to-earn game. In this game, players will have the opportunity to engage in races as the character Spongebob Squarepants, earning $SPONGE tokens as they progress through the game.
The development team behind $SPONGE is actively seeking to elevate the token’s presence in the cryptocurrency market. One of their key goals is to secure listings on major exchanges such as Binance and OKX. Achieving a listing on Binance, which is recognized as the world’s largest crypto exchange, could significantly boost the token’s value.
An intriguing aspect of Sponge V2 is its stake-to-bridge mechanism. To acquire V2 tokens, investors must stake and permanently lock their V1 tokens.
Meme Kombat ($MK) Rising as the Top Meme Coin In the Market with 100x Gain Potential Due to Battle Arena and Innovative Gaming Capabilities
Meme Kombat ($MK) stands out as a play-to-earn game that innovatively combines AI, stake-to-earn (S2E) mechanics, and decentralized gaming.
This meme coin project offers real utility and has quickly captivated the crypto community. Within just weeks of its launch, Meme Kombat’s presale has impressively raised over $7.3 million, highlighting its potential and popularity.
The platform offers unique features: outcome-based wagers, crypto staking, and Web3 meme gaming. This integration of popular crypto trends allows Meme Kombat to present an engaging blend of meme culture with interactive staking and gaming.
Users can earn income through staking, with a current annual percentage yield (APY) of 129%, and participate in betting using $MK tokens on battles between various meme characters.
Central to Meme Kombat is its native token, $MK, around which the game revolves. The project focuses on simplifying staking and wagering while offering attractive rewards, including $MK tokens and other prizes for winners.
The Sandbox (SAND) Working on New Capabilities to Enable Crypto Trading
Sandbox operates on the Ethereum blockchain, focusing on helping users craft, purchase, develop, and trade digital assets in a gaming environment.
What sets this project apart is its innovative integration of blockchain technology into video gaming.
The team behind Sandbox is actively engaged in various initiatives aimed at facilitating cryptocurrency transactions within their platform.
They have also established partnerships with over 100 brands, including well-known names like Atari and The Walking Dead. These collaborations have the potential to significantly enhance the project’s growth and value.
>>>Buy the Best Cryptos Here<<<
Conclusion
With the market currently going through a rollercoaster of changes, investors are desperately searching for the next cryptos that can help revive their portfolios.
And we might’ve found them.
Presale tokens like Bitcoin Minetrix ($BTCMTX), Sponge V2 ($SPONGE), and Meme Kombat ($MK) are all showing strong signs of profit potential.
The best part is, you can still get them for an incredibly low price and join the early bird club before the 50-100x profits come!
Join our WhatsApp and Telegram Community to Get Regular Top Tech Updates
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