Place/Date: - October 20th, 2021 at 8:00 pm UTC · 4 min read
”SEC Set to allow Bitcoin Futures ETFs as Deadline Looms”.
Bitcoin is again experiencing a growing trend for a few days once again, thanks to The Securities and Exchange Commission’s decision to allow the first U.S. bitcoin futures exchange-traded fund to begin trading. The popular crypto token BitUp has promptly taken the steps to utilize the opportunity to attract users by providing rewards in BTCB (Binance smart chain pegged BTC tokens).
The rising trend of Bitcoin has affected the Binance Smart Chain sector so deeply that the Bitcoin reward token BitUp has witnessed a rise of about 1200% within a day after its launch with almost no marketing efforts. It was launched as what is called a “stealth launch” and still, investors flocked to it, and since then, the token has brought thousands of investors in at a rapid pace, amassing 3,000 holders at the time of this writing. The rationale for all of this is because, with Bitcoin breaching over $60,000 and a huge change in sentiment in favor of the bulls, investors are looking for ways to make even more Bitcoin. BitUp has been just in time to provide a fertile ground to its investors to gain more Bitcoins just by holding the BitUp token. However, the concept of BitUP is not limited to Bitcoin rewards alone. BitUP also includes a sophisticated smart contract that continuously lowers the supply of the cryptocurrency. This utility is referred to as “Elastic supply,” and it enables the supply to drop continuously, resulting in scarcity and a constantly positive chart for the asset.
Due to the fact that it is a “Rebase Token”, as they refer to it, BitUp differs from conventional tokens in that it does not have a fixed supply. Instead, the quantity of rebase tokens is changed on an hourly basis. This is accomplished via the use of a technique known as “rebase.” In this method, the overall supply is decreased every hour with a negative rebase, causing the price to rise as a result of the decreased supply. The reduction in the number of tokens is countered by a rise in the price, resulting in an unaltered total value for investor’s holdings. Users will continue to own the same percentage of the total token supply as they did before the rebase.
The rebasing method ensures that the value of the token will constantly rise over time. Because the charts on listing sites reflect the token price, the chart on listing sites will remain green. As a result of its constantly increasing chart, BitUp is able to achieve trending status on all of the major listing websites such as CoinGecko, Dextools, and CoinMarketCap, attracting new investors to the BitUp family.
The rising chart, coupled with BTC rewards as an incentive to hold BitUp tokens, will allow investors to achieve returns that have never been seen before in the cryptocurrency market.
BitUp’s token economics, distributes 15% tax of every transaction under different heads. Marketing and buyback accounts for 6% of each transaction. This ensures a sufficient quantity of money to maintain a currency over a long period of time. If necessary, funds will be utilized to purchase tokens to support the chart’s stability in strategic buybacks. 5% goes towards rewarding investors in BTC. Further, 3% liquidity tax allows the platform to maintain a stable liquidity pool to keep investments safe and more sustainable to hold for the long term. Lastly, 1% goes towards maintenance of the ecosystem.
With BitUp claiming to be the first token to offer the automatic rebase function combined with BTC rewards, it provides an amazingly bullish chart and consistent BTC rewards as well. Bit has set high expectations for other BSC tokens. Advanced code, bullish utility, and an amazing community of crypto investors that want to hold and receive BTC rewards is setting BitUP far apart from the rest.
For more news and latest updates please visit Bit Up Telegram.