The new Bitcoin on Binance Blockchain, that’s what traders are calling “Bitnance” token. A BEP-20 cryptocurrency, it’s a digital store-of-value asset that’s in its initial coin offering [ICO] and investors are sending presales gushing upwards.
Nearing 60,000 tokens presold, the Bitnance (BTN) project continues the trend of major blockchains looking to decentralize or disrupt the power Bitcoin has on the SOV category. As traders worry that the $BTC founder, Satoshi Nakamoto has too many BTC in hidden wallets, investors are opting out for alternative options to Bitcoin on their favorite blockchain.
The New Bitcoin on the BNB Chain
In response to this demand, the Binance-Blockchain is seeing the development of Bitnance.
A low token supply cryptocurrency, only 10-million tokens will be created of the $BTN. This outperforms the exclusivity of Bitcoin, which has a total token supply of 21-million coins.
Is BNB Chain or Bitcoin Blockchain Better?
Per a report on Blockchain auditors “Chainspect,” the Bitnance token’s blockchain will outperform Bitcoin in various other ways in terms of actual utiltiy as well. The $BTN token will be able to complete more transactions per second, create blockchain data faster, and has a better governance model on-chain.
Bitnance’s superiority also comes much from the gap in age.
When was the Bitcoin Blockchain created?
Bitcoin blockchain (BTCC) was created in 2009 and the first of all digital currencies. The technology came with bugs and limited foresight as there was no anterior data or experience for it to be created from.
When was the BNB Chain created?
Bitnance is based on the layer-1, BNB Chain. This was created 11 years after Bitcoin, in 2020. Just 4 years ago, the team that developed the blockchain, had much more information to utilize in creating their digital currency data system.
Flaws in the Bitcoin-blockchain were found in the 11-year span and too, improved or corrected for the development of BNB Chain. Formerly called BSC-Chain and Binance Smart Chain, it was also created on a platform that left space for improvement.
Bitcoin has a far lead in terms of popularity, as it’s known by the world over, and the first brand many think of when the word ‘cryptocurrency’ is mentioned.
Why Bitnance (BTN) Prices Could Go Parabolic After Launch
However, if Bitnance (BTN) proves to be useful, it can reach the same number of addresses that hold $BTC currently at a much faster pace. Why? The Binance ecosystem is much more massive than others in the digital currency space.
In layman’s terms, once the token begins to show a positive gain in value of a substantial amount, it can be easier for ‘good news’ to spread and draw in additional investors. Such a momentum could push the token up the ranks on Binance exchange, where 170-million people are registered as users. Not only that, that base of users’ buying energy [or power]will also push the $BTN into noticeable positions on coin indexes like CoinMarketCap.
Presale Transaction Stats
Today there are nearly 60,000 tokens sold in the Initial Coin Offering of Bitnance (BTN). Just over 75 transactions have been registered to the presale transaction address, which indicates 75 investors are behind the acquirements.
Public comments on a Binance.com post suggests there are active Binance exchange users looking to buy more. The listing day price of $0.45 has many crypto investors stoked on $BTN and the minimum of +30% holiday profits projected for CEX listing day in December.
One analyst suggests if the Bitnance token were to reach 1,000 wallet addresses, which hold the same market cap average value as Bitcoin, the token would reach US$46.36 in value.
Long-Term Profit Yield Prediction
The change from $0.357 to $46.36 would be a +12,288% profit yield. However, this analysis is for long-term projects, at least 1 year minimum.
This type of profit yield is not ‘massive’ in the crypto space but it is to traditional investors from other commodity trading niches. A simple $7760 investment into Bitnance would become worth $1-million dollars.
And this could happen at around 1 year, per the analysis.
At the current rate of growth for the ICO however, it appears Bitnance may be found in half that amount of wallet addresses before the presale’s end.
How Many Traders Have Bought Into this ICO?
11 Ethereum (ETH) coin holders and 9 Binance (BNB) Coin traders have verified transactions in the last 7 days alone. This is a total of 20 users or nearly 3 wallet addresses being added daily.
With the growth in transactions, this daily average is expected to be surpassed and continue in an upward trajectory until the initial coin offering’s end; Especially with the newly added on-ramping options of Ethereum (ETH), Tether (USDT), and credit card payments.
With 75 wallet addresses already having purchased $BTN in the presale, and 925 more needed to reach the 1000 milestone, it would take 308 days to touch one part of the threshold needed [per analyst’s suggestions]for the token to topple US$46 in value.
A Safe Yields Projection
However, this would also require whale activity as the average contribution to market cap value per wallet on Bitcoin is extremely high; mainly due to billionaire investors and financial institutions that have made mammoth purchases of $BTC.
Even if Bitnance (BTN) does not log the goal of reaching such a ‘per wallet’ market cap value, the number still suggests intrinsic growth that could push the token far past +30% in value on listing day. Perhaps investors could see robust return on investment profit yields as high as +400% with ease — a “Bit” of a happy Christmas for those who invest into the $BTN presale at today’s price of $0.357.
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