[PRESS RELEASE – London, United Kingdom, February 9th, 2024]
Bitcoin Dogs is set to be part of cryptocurrency history with the first-ever ICO on the Bitcoin blockchain, launching on February 14th, 2024.
The presale for its native token, $0DOG, will last only 30 days, with an end date of the 15th March 2024, when it will become available for trading.
Accompanying the $0DOG coin will be an immersive metaverse GameFi experience and NFT collection, both available exclusively to token holders.
The sale will start with stage 1, priced at $0.015 per token, after which, the price will then automatically increase every 72 hours. The final stage of the presale will see each $0DOG token being sold at $0.0404, a 169.33% price difference to early-stage buyers.
The project is set to challenge Bitcoin Cats, which also launched on the Bitcoin Blockchain under 7-weeks ago, and is currently sitting at $24m in market cap, with over $7m daily trading volume.
Using the paradigm-shifting Ordinals protocol, players will store their NFTs on the Bitcoin BRC-20 blockchain, offering a new level of security and reliability when stacked up against competitors Solana and Ethereum.
Press the paws button: Inside the Bitcoin Dogs game
Bitcoin Dogs allows users to raise, trade, and race their pets in a play-to-earn (P2E) environment, drawing heavily on experiences like Tamagotchi or Axie Infinity.
The game invites players to look after their dogs in order to level them up. In-game token BARK powers this process; these can be earned by sharing activity on social media – a mechanism designed to bring new players into the fold.
As dogs reach maturity, they begin to earn $0DOG – the BRC-20 presale token and one that players can ultimately hold, sell, or bet with. Dog owners can battle it out in races to compete for each other’s $0DOG stash, creating a financial incentive for players to climb the leaderboards.
$0DOG tokens can also be staked to maximize rewards: presale stakers will unlock a 75% APR when they lock up their tokens.
Retro gaming graphics bring the Bitcoin Dogs world to life, with dogs stored on the blockchain as 10,000 individual NFTs with varying rarity levels. This ecosystem is given an extra layer of interactivity with NFT owners having the option to buy, sell, and even breed their dogs, creating a vibrant marketplace for dog lovers to interact with one another.
Since these NFTs are minted on the Bitcoin blockchain using the cutting-edge Ordinals protocol, there’s something for multiple cohorts of investors. Bitcoin maximalists get to enjoy NFTs without leaving the BTC ecosystem, and seasoned collectors can become early investors in the NFT market’s newest niche.
The Road Ahead for Bitcoin Dogs
The Bitcoin Dogs ICO is the simplest way to purchase $0DOG tokens. 90% of the 900,000,000 total supply will be available during the presale, with any unsold tokens (stray dogs) being “burned’ to create deflationary pressure.
After the presale, $0DOG will be available in the secondary market for trading Then, in Q2, comes the Bitcoin Dogs NFT collection, as well as the beta version of the Bitcoin Dogs game.
The game will continue to develop, with the addition of new P2E partnerships, and will officially launch to the public in Q3. Competitions and events will bolster the project’s marketing efforts, and the cross-chain bridge will go live too, bringing Bitcoin Dogs to its biggest audience yet.
The timing for $0DOG couldn’t be better
Now is the opportune moment for Bitcoin Dogs to strike since many experts are predicting the NFT craze will return. This is compounded by a range of bull market indicators. Additionally, given the success of first-generation projects like Bitcoin Cats last year, the team hopes that Bitcoin Dogs will excel and have a vibrant community.
Bitcoin itself is enjoying a bright start to 2024 that looks set to continue: Bitcoin ETFs were approved in January, and the next halving in April is coming up. Bitcoin Dogs is looking to ride this wave as the roadmap unravels throughout the year.
As the first ICO on the Bitcoin blockchain, making the ground-breaking union of NFTs, BRC-20 tokens, and cross-chain interoperability, the project and its $0DOG token are a rare leap forward in the crypto space.
About Bitcoin Dogs
Bitcoin Dogs is breaking new ground in the Bitcoin ecosystem. For the first time ever, NFTs, gaming, and new token types come together, to offer the first ICO on the original Bitcoin blockchain. The truly permissionless immutability of Bitcoin is being harnessed to create the $0DOG token, while a play-to-earn (P2E) gaming experience and NFT collection is being developed exclusively for $0DOG holders.
$0DOG tokens will be available to purchase on the BitcoinDogs.club website on February 14th, 2024, at 11:00AM GMT.
Bitcoin Dogs is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Investing in cryptocurrencies can be volatile and dangerous.
BTC Rejected Off $64,000 As Crypto Market Suffers $600 Million Of Liquidations
The price of Bitcoin (BTC) experienced massive volatility on Wednesday, soaring to nearly $64,000 before sinking again to $60,500 within one hour.
Amid the chaos, crypto traders have experienced $638 million in liquidation over the past 24 hours, including $391 million of liquidations in the past 4 hours alone.
- According to Coinglass, about $55 million of liquidations in the last hour impacted a consortium of little-known altcoins, while $96 million was liquidated on BTC trades directly.
- Meanwhile, ETH traders suffered $45 million of liquidations, and DOGE traders lost $29 million.
- In the past 24 hours, a massive 168,988 traders were liquidated. The largest single liquidation occurred on OKX on a BTC-USDT trade for $9.45 million.
- The price of BTC is $61,400 at writing time, up 21% within the past five days alone.
- Many credit the asset’s recent surge to the launch of several bitcoin ETFs last month.
- BlackRock’s Bitcoin ETF – the largest of all newcomers – now holds over $8 billion in BTC, and absorbed a record $520 million of flows on Tuesday.
BlackRock Bitcoin ETF Smashes Daily Inflow Record, Ranks 2nd In United States
BlackRock’s Bitcoin (BTC) ETF has cracked a new daily inflow record, helping push Bitcoin’s above $60,000 for the first time since November 2021.
The iShares Bitcoin Trust (IBIT) absorbed another $520 million on Tuesday, bringing the fund’s total flows since launch above $6.5 billion. Furthermore, thanks to Bitcoin’s rising price during that period, the value of the firm’s Bitcoin stash has appreciated to over $8 billion.
BlackRock Breaking Record
By comparison, Fidelity’s Bitcoin ETF now holds $5.6 billion in BTC, but absorbed a much smaller $126 million flow on Tuesday.
Meanwhile, Grayscale – IBIT’s largest competitor – suffered another $125 million of outflows. Though Grayscale still bears a significant lead in total assets at $25 billion, BlackRock’s ETF is slowly gaining ground against the incumbent fund due to its much lower management fee.
According to Bloomberg ETF analyst Eric Balchunas, BlackRock’s stellar inflow figure made it the number two ETF for inflows in the United States yesterday, only behind BlackRock’s iShares Core S&P 500 ETF (IVV).
“This means a good portion of that massive volume was new buying vs arb/algo,” Balchunas wrote to X on Tuesday.
The analyst also noted that individual trades for IBIT’s ETF surpassed those of both the SPY and QQQ. This suggests that a large component of buyers trading the ETFs are retail-based – an unexpected finding given the ETF’s popularity as an institutional trading ground.
Bitcoin ETFs And Surging Price
The price of Bitcoin has skyrocketed by over 25% in the past five days, now trading at over $63,000 at writing time. Many analysts credit its success to the launch of Bitcoin spot ETFs, which have collectively absorbed over $6.7 billion of flows since going live on January 11.
After 30 days, BlackRock and Fidelity’s Bitcoin funds had already broken records as the two most successful ETF launches in history based on flows. BlackRock also tapped a new daily high for trading volume on Monday, surpassing $1.3 billion and entering into the top 11 ETFs in the country by volume.
Bitcoin now approaches its all-time high of $69,000 USD, though, in some currency denominations, it has already broken its prior records. For instance, one BTC is now worth over 95,000 Australian dollars, compared to $87,000 at its peak in November 2021.
3 Catalysts That Suggest More Gains for Bitcoin After Price Broke $60K
Bitcoin surged above $61,000 on Wednesday, marking its highest level since November 2021. The rally seems fueled by significant inflows into US-based spot Bitcoin ETFs.
With bullish momentum building, all eyes are on the leading crypto asset’s trajectory, and data suggest that it might be able to break its previously established all-time high of $69,045.
MVRV Ratio Signals Buying Opportunity
The MVRV Ratio, derived from dividing an asset’s market capitalization by its realized capitalization, serves as a pivotal metric in cryptocurrency trading. When below 1, it indicates most holders are at a loss, signaling a potential buying opportunity.
On the other hand, a rising ratio suggests increased profit-taking, potentially leading to selling pressure and market corrections.
Historically, an MVRV Ratio nearing 4 signaled market tops, though this threshold has decreased in each cycle. According to Intotheblock’s latest observation, the value stands at 2.22, essentially hinting at a bullish market that is not yet excessively overheated.
Subdued Retail Crowd
Despite Bitcoin’s remarkable price movement, current data suggests an absence of retail investors. While there has been a rise in the number of new addresses, Intotheblock said it is likely attributed to active market participants engaging with Ordinals.
However, new addresses have since declined and remain relatively consistent. The same pattern is observed with active addresses. Both Google trends and app store data show no significant surge in retail interest yet.
On-chain volume is gradually increasing, reminiscent of the early phases of the 2021 bull market, but it has not reached the frenzy levels seen during the peak.
This implies that institutional investors might be driving this phase, with attention focused on ETFs as potential accumulators.
Despite Bitcoin’s incredible price movement, current data indicates a quiet retail front💤
➖While there was a boost in new addresses, this was likely related to active market participants engaging with Ordinals. New addresses have dropped since and remain relatively stable. The… pic.twitter.com/uS1Gxd3Rg2
— IntoTheBlock (@intotheblock) February 28, 2024
Meanwhile, those monitoring altcoins are speculating on whether renewed retail interest will shift Bitcoin’s upward trend towards broader market movements. However, the upcoming halving could change this dynamic and push the crypto asset to a new peak.
Bitcoin Halving: A Major Catalyst
The analysis from ITB suggests that the upcoming Bitcoin halving in April typically triggers a surge in price according to historical patterns. However, in the current cycle, the price rally has occurred earlier than anticipated.
This deviation may imply that investors are aware of the potential impact of the halving and are adjusting their investments accordingly ahead of time. In short, these market players are anticipating and acting upon the expected price movement associated with the halving event well before it actually takes place.
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