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Liquidity has started to flow toward lower market cap coins as Ethereum Express gains just under 30% in 24 hours while most top 10 altcoins are in the red.
Meanwhile, the newly launched Bitcoin Minetrix is also pushing ahead, reaching $5.5 million in the ongoing presale. Will this rally like Ethereum Express?
Ethereum Express pumps following BRC-20 announcement
Ethereum Express is a blockchain aiming to become a “faster, safer, and cheaper layer-1 network” and leverages the Ethereum virtual machine (EVM).
The network offers tools like a self-built browser called ETEscan, a decentralized exchange (DEX), a native wallet, and ERC-20 bridges.
It is also listed on some notable centralized exchanges, including LBank, MEXC, and Bitget.
The project launched in September and initially rallied but quickly sold off, as seen on the price chart below.
However, an announcement from the team on Dec. 5 catalyzed a new wave of hype, driven by excitement of incoming BRC-20 ecosystem liquidity.
BRC-20 is a token standard on the Bitcoin network. It offers increased functionality and multiple BRC-20 tokens have attained over $1 billion market caps before listing on tier-one exchanges.
The Ethereum Express announcement read, “We will launch the inscription casting on our ETE chain in two weeks, with a total amount of 2,100, and each casting consumes 10,000 WETE.”
ETE’s price rose from $0.0124 to $0.135 in the following days.
Then, after a brief pullback, it started to pump again, driven by activity on the HTX exchange.
HTX is running a competition called PrimeVote, utilizing a vote-to-list mechanism that lets users choose their favorite project for listing on the exchange.
Ethereum Express recently noted that it is in first place in its category, indicating it could soon be listed on the prominent exchange.
The team also secured a partnership with UZX DAO Exchange to forge a “joint governance community, fostering a truly open, transparent, and community-driven decentralized blockchain ecosystem.”
Another project focused on transparent and decentralized blockchain infrastructure is Bitcoin Minetrix. It is a stake-to-mine crypto whose presale is ongoing.
Bitcoin Minetrix presale rallies above $5.5 million
Bitcoin Minetrix allows users to cloud mine Bitcoin.
Clients do not need specialist hardware or technical know-how to get started, making it beginner-friendly and providing value to the Bitcoin network.
It works by users staking BTCMTX in exchange for Bitcoin mining credits. They can burn these credits for cloud mining power, translating to free Bitcoin.
The central role of BTCMTX means there will be on demand, while supply will be limited since most tokens will be locked for staking.
This has drawn exciting price predictions from analysts.
Low-cap gem hunter Jacob Bury and No Bs Crypto expect BTCMTX to rally.
Bitcoin Minetrix, unlike other cloud mining solutions, is its focus on decentralization and transparency.
This eradicates the risk of cloud mining scams since money does not change hands throughout the process; users simply stake their tokens on the blockchain.
Another advantage is that it is built on Ethereum, so users can get started from an Ethereum-compatible wallet like MetaMask. This makes it much more accessible, bolstering its potential user base.
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Source: https://crypto.news/ethereum-express-rallying-bitcoin-minetrix-is-next/