Bitcoin Minetrix is launching on Uniswap with a promise to burn 10% of its tokens, thus anticipating a potential price increase for the BTCMTX token.
The revolutionary token dedicated to cloud mining, Bitcoin Minetrix ($BTCMTX), has made its debut on decentralized exchanges (DEXs) after raising $14 million in its presale phase. The project now expects its value to experience significant growth due to new burning initiatives and potential buy-back actions.
Bitcoin Minetrix has announced that it will burn 400 million tokens, equivalent to 10% of the total 4 billion. While the scope of these campaigns is not yet known, early investors anticipate a price increase for the token.
This announcement could mark the beginning of a regular (monthly) burning cycle. $BTCMTX was initially priced at $0.011 in the presale phase, but the token’s price has currently dropped due to what the team describes as “unjustified FUD”. Given the recent drop in Bitcoin’s price, more investors are viewing Bitcoin Minetrix as the perfect alternative to investing in BTC.
With liquidity locked for 11 months and a total of 803 million tokens staked, this cleverly designed tokenomics is expected to potentially drive a price increase for BTCMTX.
Locking $887,000 of liquidity for 11 months on Uniswap V3 provides additional protection for participants, affirming the team’s long-term commitment. Additionally, about a quarter of the total 4 billion tokens remain staked, thus reducing price pressure. Those who stake tokens benefit from an estimated annual reward of 52%.
At the time of writing, the Bitcoin Minetrix token is trading at $0.0071, attracting buyer attention as the project’s value proposition becomes increasingly visible. Upcoming events, including scheduled reductions and partnerships in the cloud-mining sector, are expected to significantly impact the project’s evolution.