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Binance to Split its New BTCST Hashrate-Based Tokens and Launch on TRON Blockchain

coingape.com 16 March 2021 11:57, UTC
Reading time: ~3 m

Crypto investors are looking at other ways to invest in this popular asset since Reddit has banned the publishing of posts on digital currencies. This has seen a bevvy of investors flocking to tokens outside of Bitcoin. These include digital media and pieces of art via NFTs, or non fungible tokens and the astronomical rise of alts. 

Meanwhile WallStreetBets, which now has a “No Cryptocurrency” policy, is now saturated with mentions of cryptocurrency miners. Two Bitcoin miners gaining particular attention via this forum include RIOT, which is the symbol of Riot Blockchain Inc., and MARA, or Marathon Digital Holdings Inc. –both of these miners have seen gains of over 7,600% in the last year, at time of writing, which makes Bitcoin’s 10 times surge seem quite ubiquitous.

How to Gain Exposure to Miners?

There is now another way to gain exposure to these active mining companies and that is through Binance LaunchPool’s new project which is powered by the BTCST token.

In effect the miners are standardizing their hashrates, which is quite simply the aggregation of computational power of mining and processing transactions. These numbers are then tokenized and turned into a tradable asset.

The BTCST token launched on the TRON blockchain here https://app.btcst.finance at 09:00 AM on March 15th (SGT), takes into account 12% of the leading miners globally and gives investors a completely unique way to invest in cryptos without actually having to be exposed to cryptocoins themselves.

You can also invest in this token and then stake it for future projects inside the Binance platform, which gives you a way to earn yield for your holdings passively. Binance LaunchPool have chosen TRON for its high-speed performance and low network fee.

BTCST was born in January 2021, and in such a short time has seen massive price moves to the upside. With over 533% gains in just over 2 months. It started its debut at around $78 per coin, and is worth approximately $416 (at the time of writing).  With a valuation of $218,539,988 and a 24-hour trading volume of $29,178,198 this token is definitely worth looking at.

Last month the community voted on enacting a 10:1 token split which waters down the value of each token yet keeps the market cap as it is. This would have the effect of increasing circulation and eventually the value of each token.

Binance users will not see BTCST prices during the split but will start accepting deposits and withdrawal on March 19th, and then reopen spot trading of the BTCST pairs the same day.

As well as so far being an extraordinary performer in the crypto arena in such a short time, this looks like a project and token worth watching.

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