Bitcoin is making a come back in an unlikely way, the sudden rise of ERC-20 based Bitcoin off-shoot projects has gained significant traction over the past week as Bitcoiners race to secure newfound gains.
In the freshest development for the top coin since BRC-20 tokens exploded onto the scene in late Spring, a new carnation of Bitcoin tokens are garnering significant attention in the ERC-20 space.
BITCOIN ERC-20 Token Surges +9,500%
A straight-to-DEX ERC-20 token going by the ticker BITCOIN has surged to become the number 2 trending coin on DEXtools following a sensational +94% rally over the past 24 hours.
Driven by an influx of $8.7m in volume over the past 24 hours, the latest surge now brings BITCOIN’s total on paper gains to an eye-watering +9,500%.
A growing legion of 6.7k holders demonstrate the appetite of investors, keen to get in on the next Bitcoin off-shoot,
BITCOIN2 Token Gains +2,000% in Just 3 Days
This has been matched by the seismic return of another straight to DEX copycat called BITCOIN2.
Quick of the mint just 3-days ago, BITCOIN2 has already seen a magnificent +2,000% return since launch.
This has likewise been powered by an insane influx of volume, with $2.2m flooding into the project in just the last 24 hours – an impressive display by 914 holders.
However, BITCOIN2’s initial success may well be short-lived as the token has entered a -9.18% localised retracement over the past 24 hours.
Are Bitcoin ERC-20 Tokens Doomed to Fail?
Despite surging popularity for straight to DEX Bitcoin off-shoots, many are wondering whether these unlikely tokens are doomed to fail.
Indeed, it is not uncommon for straight to DEX coins to flop dramatically after a sizeable pump – and worse still with uncommitted development teams and insane tokenomics these issues can worsen.
This is likely to be the case for both BITCOIN and BITCOIN2 (which has already begun retracement).
However, despite these concerns around straight to DEX offerings, there is still hope for an ERC-20 Bitcoin off-shoot with longevity.
Introducing BTC20: a Genuine Bitcoin Offshoot
Another ERC-20 Bitcoin project taking a unique approach (avoiding a straight to DEX launch) is BTC20.
An offshoot project with a difference, BTC20 has been created by a serious development team with an incredible 120-year vision for project growth – already experiencing an almost $200k influx of volume in the first 24 hours.
Better yet, by avoiding the pump-and-dumps that characterise straight-to-DEX launches, BTC20 is forging a dedicated community of holders through a novel presale fundraise.