Tether injects $100 million into BTC mining ecosystem, Bitcoin ETF token presale takes off
Crypto miners are an integral part of the crypto industry, as they are responsible for minting new tokens and the stability of their specific blockchain platform. Recently, stablecoin company Tether pumped $100 million into the Bitcoin (BTC) mining industry by purchasing shares of Bitcoin (BTC) mining company Bitdeer. Following the investment, a Bitcoin ETF token, ETFSwap (ETFS) gained momentum in its presale event, recording 160 million token sales in stage 1. Let’s see how it happened!
ETFSwap (ETFS) revolutionizes ETF trading
ETFSwap is a blockchain platform that allows trading exchange-traded funds (ETFs) on the blockchain through tokenization. The tokenized ETFs will represent all ETFs, including spot Bitcoin ETF 1:1 on-chain.
Also, the tokenized ETFs will be available for trading on a comprehensive Web3 marketplace tailored to the needs of both experts and newbies with little or no trading knowledge. Further, ETFSwap (ETFS) will educate all its users on ETFs using the ETFSwap Screener, which functions as an adjustable DEX screener with an extensive database filled with information on exchange-traded funds (ETFs).
With these tools, users will be able to classify all types of ETFs accurately, and with this knowledge, they will make well-informed decisions before picking from the flurry of asset classes in which they can invest. Further, ETFSwap has a seamless swapping function that enables users to swap from tokenized ETFs to other crypto assets and vice versa.
In addition, the platform offers experienced traders the opportunity to increase their earnings with up to 10x leverage on trading. However, they will do well to exercise caution as leverage can be dangerous during trading as traders risk liquidating their entire position. ETFSwap (ETFS) will also feature fractional ownership, allowing users to amplify their portfolio by diversifying their assets.
However, to gain access to trade spot Bitcoin ETFs and several other ETFs on-chain, users will need to hold the platform’s native token ETFS. The Bitcoin ETF token will serve the purpose of utility and governance, granting holders voting rights to participate in making decisions that affect the network growth. Also, holding the Bitcoin ETF token results in yield-generating opportunities like staking, which can help users earn passive income through a mouth-watering annual percentage rate on the platform.
Tether (USDT) invests $100 million into Bitcoin (BTC) miner Bitdeer
Tether, a stablecoin company, on May 31, 2024, invested $100 million into Bitcoin mining company Bitdeer by purchasing as reported by a press release on the latter’s platform. Tether (USDT), according to the news, would purchase 18,587,360 class A ordinary shares of the company.
Also, Tether would again buy an additional 10 million shares at $10 each, rounding up the total purchase to $150 million. The BTC mining company intends to use the investment to enhance its mining operations by building ASIC-based mining facilities and expanding its data center.
The investment also hints at Tether’s (USDT) latest strategy of delving into the development of the crypto industry by dividing its business into four arms, one of which is investment in BTC mining. After the announcement of the Tether investment, Bitdeer shares recorded a slight uptick in price, increasing by over 4% to $6.08, and currently, it stands at $6.24.
Bitcoin ETF token presale and conclusion
Following the massive investment in Bitcoin (BTC) mining, ETFSwap (ETFS) experienced increased investor interest in the presale event of its Bitcoin ETF token ETFS. The platform currently offers the Bitcoin ETF token at $0.00854 per coin in stage 1 of the sale, but by stage 2, its price will increase to $0.01831, underscoring an important earning point on the network.
Further, experts expect the Bitcoin ETF token to surge by 20,000% to $3, seeing its unique offering and increased interest in Bitcoin (BTC) among institutional investors. Investors who buy now at stage 1 increase their chance of making over 200x profit when ETFS skyrockets to $3. So hurry and buy ETFS today!
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