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eTukTuk: How the Tesla of Developing Nations Revolutionizes the EV Sector Using AI & Blockchain

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Investing in the EV sector can be regarded as investing in the future of Earth. But eco-conscious initiatives can be incredibly lucrative in terms of financial returns, too.

If they have the potential for mainstream adoption, sustainability projects can bring attractive profits to early investors. A good example is eTukTuk – an electric vehicle ecosystem crafted to transform the TukTuk public transportation sector in developing economies.

Tesla of Developing Economies

eTukTuk puts forward an innovative cryptocurrency initiative with the goal of dismantling the obstacles hindering the widespread adoption of electric vehicles (EVs). Although there are numerous EV projects that operate with a broad scope, eTukTuk strategically narrows down its focus on emerging economies.

Its approach proves highly effective, given the prevalence of EV platforms catering to developed economies. Due to their substantial investment costs, these platforms are inaccessible to individuals from poor and middle-class backgrounds.

The financial barrier stands in the way of the mass adoption of EV technologies, posing challenges to fighting global issues such as climate change and air pollution. To implement meaningful solutions, we need initiatives that transcend geographical and financial borders.

eTukTuk As a Catalyst for Change

eTukTuk empowers the electric vehicle (EV) sector to permeate developing economies. It assists the transition of public transportation in these nations toward green technologies powered by electricity.

This is achieved by strategically focusing on optimization by targeting TukTuks, a widely used mode of public transportation. Beyond their accessibility, TukTuks are also notorious as significant contributors to air pollution in developing nations. The focused approach enables eTukTuk to make a substantial and positive impact in the EV sector.

eTukTuks are electric adaptations of traditional TukTuks that feature green technology alongside integrated AI and blockchain functionalities. On the financial front, eTukTuk drivers stand to significantly increase their income, up to 400% more, compared to driving an ICE TukTuk.

Beyond environmental focus, these vehicles provide drivers with compelling incentives and advantages.

  • Reduced operational and maintenance costs compared to their Internal Combustion Engine (ICE) counterparts. Thanks to the project’s meticulous 5-year research and development process, the efficient design requires only 200 components.
  • Local manufacturing slashes acquisition costs for drivers.
  • eTukTuks grant access to AI features that optimize routes, alleviate traffic congestion, and minimize fuel consumption.
  • Predictive maintenance enhances the lifespan of eTukTuks. The AI system can anticipate potential issues ahead of time, allowing timely interventions.

eTukTuk’s self-sufficient ecosystem takes advantage of a blockchain-based peer-to-peer payment network and an extensive network of electric vehicle (EV) charging stations. They are powered by the native $TUK tokens.

Community and Incentivization

$TUK tokens form the backbone of the incentivization scheme, serving as a means to democratize investment opportunities within the EV sector. It departs from the traditional limitations that typically favor large-scale investors and opens up investment avenues for global participants.

The native token creates a seamless ecosystem for drivers, including those not operating the eTukTuk fleet. EV drivers can use $TUK for charging payments, with a portion directed to a reward pool. The rewards are distributed among Territory Partners and Power Stakers.

When it comes to tackling the infrastructure challenges in developing economies, eTukTuk has strategically positioned and managed a network of charging stations. They are overseen by Territory Partners. The security of the payment network falls under the responsibility of Power Stakers. They also give access to a lucrative source of digital income.

Another dimension to the ecosystem is added by the upcoming play-to-earn game, which is styled on the popular Crazy Taxi. It caters to gamers, offering an additional source of income and contributing to the platform’s inclusivity and societal impact.

Together, all ecosystem participants foster a collaborative and automated network.

A Financial and Social Investment

eTukTuk is designed to broaden the impact of the electric vehicle (EV) industry across the world, beyond developed economies.

eTukTuk embraces the innovations of cryptocurrencies and blockchain to position itself as a radical force in the EV sector. Alongside, it enriches the lives and livelihoods of online and offline ecosystem participants.

Leading up to the official exchange launch of $TUK tokens, investors have the opportunity to grab discounted prices during the limited presale period.  It offers attractive staking benefits in three-digit APYs. Staking, in addition, dampens the risk of early sell-offs that plague new crypto projects. It encourages investors to hold on to their tokens for higher long-term returns, which, in turn, strengthens the price action.

With sustainability and climate action growing more popular than ever, eTukTuk has high market relevance. The project has the potential to attract the attention of traditional investors to the crypto sector.

Visit eTukTuk Presale

Disclaimer: CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

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BTC Rejected Off $64,000 As Crypto Market Suffers $600 Million Of Liquidations

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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.
Bitcoin / USD. Source: TradingView
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BlackRock Bitcoin ETF Smashes Daily Inflow Record, Ranks 2nd In United States

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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.

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3 Catalysts That Suggest More Gains for Bitcoin After Price Broke $60K

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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.

Bitcoin MVRV. Source: ITB
Bitcoin MVRV. Source: ITB

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.

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.

Bitcoin Price History. Source: ITB
Bitcoin Price History. Source: ITB
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