In light of Avalanche’s endless AVAX inflation, analysts suggest some holders might be tempted to explore alternatives like Bitcoin Spark (BTCS) as they seek more stable and predictable investment options.
AVAX prediction
The AVAX price recently dropped below $10, marking its first time below this threshold since January 2021. The token has been facing significant challenges, primarily stemming from its scheduled unlocking, which has exerted additional selling pressure. To provide some context, Token Unlock’s data indicates that AVAX’s one-year emission stands at approximately 75 million tokens, equivalent to roughly $700 million. Analysts suggest if buyers manage to defend the critical $9.00 support level, there may be a chance for the Avalanche price to stage a recovery towards the 50-day EMA. However, they also warn that a drop below $9.00 could potentially trigger more downside movement, leaving investors in a precarious position.
What is Bitcoin Spark?
Bitcoin Spark is an innovative cryptocurrency project that draws inspiration from Satoshi Nakamoto’s vision. While it shares the fundamental characteristic of a fixed supply of 21 million with Bitcoin, Bitcoin Spark distinguishes itself through several key enhancements. One notable feature is its rapid transaction processing and low fees, facilitated by a combination of high individual block transaction capacity, short block times, and a robust network of nodes. Moreover, Bitcoin Spark offers a scalable platform for the development of smart contracts and decentralized applications (Dapps) due to its multi-layered architecture with a seamlessly integrated smart contract layer that supports various high-level and low-level programming languages, providing flexibility for developers.
One of the most distinctive aspects of Bitcoin Spark is its groundbreaking consensus mechanism, Proof-of-Process (PoP), which rewards users nonlinearly for validating blocks and contributing their processing power. This unique mechanism, coupled with the vast network nodes, allows for a large number of validators. The Bitcoin Spark team is set to launch an application that will enable users on various operating systems, including Windows, iOS, and Android, to participate in network validation by granting access to their device’s processing unit.
The validators’ processing power will be leased by Bitcoin Spark to organizations or individuals in need of remote computational resources, with payments made in BTCS. This benefits the validators financially while giving the network a first-to-market real-world application, furthering its adoption.
Furthermore, Bitcoin Spark creatively incorporates advertising into its ecosystem by providing unobtrusive ad spaces on its application and website. Advertisers will pay with BTCS, aligning Bitcoin Spark with the expanding marketing industry.
The ongoing Bitcoin Spark Initial Coin Offering (ICO) surpassed the $1.4 million mark just 5 weeks after it started. Additionally, numerous crypto analysts have given the ICO positive reviews. BTCS is set to launch at $10 but is currently selling at $2.50 with a 9% bonus in Phase 5 of the ICO.
Conclusion
While Avalanche strives to navigate its issues and potential recovery, Bitcoin Spark’s innovative features and unique propositions could attract more of its investors.
For more information on Bitcoin Spark:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
Source: https://www.analyticsinsight.net/will-avalanches-endless-avax-inflation-cause-holder-to-flock-to-bitcoin-spark/