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First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days

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[PRESS RELEASE – London, United Kingdom, February 21st, 2024]

Bitcoin Dogs has now raised a total of $3.1M in the first 6 days of its historic presale. The project’s BRC-20 token, 0DOG, is the first-ever ICO on the Bitcoin blockchain.

Bitcoin Dogs leverages the recent Ordinals protocol to break new ground in the Bitcoin ecosystem and the team plans to launch a 10k-strong NFT collection later this year.

The opportunity to be part of history has been a key selling point for the brand, fuelled no doubt by the token price increasing every three days, until the presale ends on Friday, 15th March – after which the token will become available for trading.

In less than 6 days, the Bitcoin Dogs’ X community has surged past 80k followers, with a further 14.5k actively discussing the project in the Telegram community.

Bitcoin Dogs (0DOG) is available on the official website.

The Road Ahead For Bitcoin Dogs

Beyond the historic ICO that has launched the 0DOG token, Bitcoin Dogs has a very comprehensive roadmap as outlined in its whitepaper, comprising a new play-to-earn game as well as one of the largest collections of Bitcoin NFTs to date.

Retro 8-bit graphics bring the Bitcoin Dogs universe to life, a subtle nod to early NFT collections like CryptoPunks as well as classic pet simulator games such as Tamagotchi.

Gameplay is heavily integrated with social media, a mechanism designed to build community and take the game to a wider audience. Sharing progress allows players the chance to earn in-game currency, which they can then use to compete against other players in hair-raising races and dog-themed competitions.

Price Drivers For 0DOG

There are a whole host of factors likely contributing to the success of Bitcoin Dogs, including strong project fundamentals and a resurgent crypto market led by Bitcoin, alongside a powerful value proposition.

Bitcoin Dogs offers a tangible product, with a game and NFT collection on the horizon. The project roadmap is also clear, with a long-term strategy to sustain interest beyond the ICO.

The ICO itself has also been a key selling point: being the first presale for Bitcoin-based tokens has attracted numerous buyers, and the short 30-day window has encouraged prospects to get in early. The increased momentum could also be driven by the price increase every three days.

The project’s proximity to Bitcoin is also a likely boon. Bitcoin has seen increased price value in 2024, stabilizing above $50k at the time of writing ahead of the next halving, scheduled for April.

With media including Cointelegraph predicting new highs in the wake of the halving, the wider market could also benefit, and if so Bitcoin Dogs is well-positioned to enjoy Bitcoin’s slipstream.

Furthermore, the BRC-20 token standard (which allows new cryptocurrencies to be deployed on, and secured by the Bitcoin blockchain) has made waves since it was unveiled in 2023. BRC-20 projects like ORDI and ORNJ have achieved rallies of 3,000% and 677%, respectively.

With potential like this at the forefront, Bitcoin Dogs aims to be the leading contender holding the BRC-20 torch. With just 23 days remaining, there is limited time before the highly anticipated open of public trading.

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.

For more information (0DOG) users can visit the Bitcoin Dogs’ website.

Website | Whitepaper | Socials

Contact

Bitcoin Dogs
Bitcoin Dogs Team
pr@bitcoindogs.club

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Over $500M Ethereum (ETH) Left CEXs as Market Prepares for Impulsive Move: Data

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Data from IntoTheBlock revealed that investors withdrew approximately half a billion ETH from centralized exchanges last week, the highest the asset has seen since February.

$500M ETH Leaves CEXs

The withdrawal of large amounts of ETH from centralized exchanges signals investor confidence in the long-term price trajectory of the asset. Market participants usually withdraw their cryptocurrencies from centralized trading platforms to hold the assets in their private wallets or cold storage in anticipation of higher prices.

Such large withdrawals have been considered an indicator of bullish sentiment and holding attitude among investors. Most of the time, ETH has recorded substantial gains in the weeks following large withdrawals from exchanges.

Anticipation for higher ETH prices could be attributed to the approval of spot Ethereum exchange-traded funds (ETFs) in Hong Kong and the just-completed Bitcoin halving event, which has historically triggered bull rallies across the market.

With huge amounts of ETH leaving exchanges, supply could decline on such trading platforms and high demand from large entities like the spot ETF issuers could propel the digital asset’s price upwards, per the laws of economics.

Futures Market Poised for Impulsive Move

While investors reduce their ETH holdings on centralized exchanges, the Ethereum Futures market shows that it is on the brink of a resurgence of long or short positions. A CryptoQuant Quicktake by pseudonymous analyst Shayan disclosed that the Ethereum market may be on the verge of a fresh and impulsive move either northwards or southwards.

Shayan explained that futures market sentiment significantly impacts price movements because the intensity of long and short positions, as well as the possibility of large liquidations, acts as a catalyst for volatility. This sentiment can be determined by the state of open interest, which indicates the number of open perpetual futures contracts across several cryptocurrency exchanges.

Notably, open interest in Ethereum declined during ether’s recent plunge to $2,900 amid escalated tensions in the Middle East. The fall suggested a pipedown of activities in the futures market.

“Consequently, the market appears poised for the resurgence of either long or short positions, potentially initiating a fresh and decisive market movement in either direction,” Shayan said.

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ChatGPT Gives Post-Halving Bitcoin Price Outlook, What About 99Bitcoins Token?

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The Bitcoin halving event has come and gone, leaving investors wondering what’s next for the world’s largest cryptocurrency.

However, in an exciting twist, the AI model ChatGPT has weighed in with its analysis – and provided a post-halving price prediction for BTC.

Bitcoin Shows Signs of Life After Halving Event

Bitcoin is showing signs of life after a bearish period last week.

The coin is now trading at $65,860, up over 4% since the halving and 10% from Friday’s lows.

This price point marks Bitcoin’s highest value in over a week as it tests dynamic resistance at the 20-day exponential moving average (EMA) on the daily chart.

Some technical analysts are also eyeing the potential formation of a huge bull flag pattern that could lead to further upside.

Bitcoin’s upswing has been accompanied by a surge in trading activity, with spot volumes up around 14% over the past 24 hours.

The increase in activity has also resulted in over $51 million worth of short positions being liquidated.

All in all, with Bitcoin’s price action heating up following the halving, traders and investors are watching to see if this could be the start of the next bull run.

ChatGPT Paints Bullish Picture on Bitcoin’s Future

According to ChatGPT’s analysis, Bitcoin’s post-halving price prospects look decidedly bullish.

ChatGPT believes several key factors could come together to fuel significant upside for the flagship crypto in the weeks ahead.

Chief among them is the potential for even more institutional adoption as big-money players continue to embrace Bitcoin as a legitimate asset class.

The AI model also cited Bitcoin’s growing status as a hedge against economic uncertainty in traditional markets.

With heightened geopolitical tensions and inflation concerns, everyday investors may flock to decentralized assets like BTC throughout 2024.

Finally, ChatGPT pointed to the role that ongoing technological advancements within Bitcoin’s ecosystem could play.

Improvements to scalability, and even new ideas like Runes, could enhance the network’s utility going forward.

Considering this potential convergence of positive forces, ChatGPT sees Bitcoin hitting the $100,000 mark in the near to medium-term.

While just a hypothetical forecast, this bullish target does align with Bitcoin’s historical pattern of setting new all-time highs after previous halvings.

Which Other Coins Does ChatGPT Think Could Surge?

While ChatGPT appears optimistic about Bitcoin’s upside potential, the AI model also offered insights on under-the-radar cryptos that could surge.

One project that seems to have caught ChatGPT’s attention is 99Bitcoins Token (99BTC) – which has raised over $650,000 since its presale kicked off.

ChatGPT Believes “Learn-to-Earn” Premise Could Lead to Gains for 99BTC

99Bitcoins Token represents 99Bitcoins’ ambitious move to integrate crypto learning with blockchain-based rewards.

Through interactive modules, quizzes, and tutorials, users can earn 99BTC tokens simply by engaging with educational content.

According to 99Bitcoins Token’s whitepaper, it will also enable access to premium courses, expert trading signals, community channels, and more – creating an entire ecosystem focused on crypto education.

But what does ChatGPT think about 99Bitcoins Token’s prospects once it lists on exchanges?

According to ChatGPT’s analysis, 99BTC could be poised for significant price appreciation given its groundbreaking “Learn-to-Earn” premise and well-designed tokenomics.

ChatGPT highlighted the token’s unique value proposition of rewarding users for learning as a major bullish catalyst.

This novel concept could attract a “broad user base” eager to enhance their crypto knowledge.

The AI model was also optimistic about 99BTC’s integration with Bitcoin’s new BRC-20 token standard.

This standard unlocks new utility through NFTs and other digital assets built on the Bitcoin blockchain – and ChatGPT believes 99Bitcoins Token’s adoption of BRC-20 could further boost its price potential.

Considering these factors and the sustainable tokenomics setup, ChatGPT offered up some lofty price targets.

Visit 99Bitcoins Token Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. 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.

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Bitcoin Layer 2 Tokens Outperform BTC Post-Halving

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Bitcoin layer 2 solution tokens have demonstrated superior performance to BTC following the highly anticipated halving of the mining reward on the blockchain.

Since the event, these tokens have surged by 5% to 20%, outpacing the top crypto by market cap.

Stacks (STX) Takes Center Stage

According to CoinGecko data, the market cap for Bitcoin layer 2 solutions is $4.3 billion, marking a 5.6% increase in the past 24 hours. Meanwhile, the trading volume is $184 million.

Stacks (STX), a Bitcoin layer 2 solution, has been among the top-performing cryptocurrencies in the past 24 hours, according to CoinGecko data. The STX token has surged almost 20% to $2.87 since the halving event.

Bitcoin, on the other hand, has not experienced significant growth. The token is up slightly over 4.5% to $66,046 since the halving event, 1.7% over the last 24 hours, and down 0.8% over the last 7 days.

Bitcoin’s price saw significant volatility last week, dropping from over $66,800 to below $60,000. However, it has since recovered.

Other layer 2 tokens, such as Elastos’ ELA token and SatoshiVM’s SAVM, have also experienced gains of 11% and 5%, respectively, since the halving.

Other altcoins have observed slight daily gains, except for TON, which has experienced a significant double-digit decline despite Tether’s announcement of expanding to the TON blockchain.

Notably, Bitcoin layer 2 solutions address blockchain scalability and transaction speed limitations. These projects operate on the Bitcoin blockchain, offering scalability by processing transactions off the main chain.

Bitcoin Fees Surge

On April 20, when the halving occurred and the Runes protocol launched, Bitcoin transaction fees reached an average of $128.45, according to ycharts data. This figure is over six times higher than the average fee rate the day prior and approximately double the previous record set three years ago.

The fee surge can be attributed to the launch of the Runes protocol, which enables users to “etch” and mint tokens on the Bitcoin blockchain. The introduction of Runes prompted speculators to rush into minting tokens and trading meme coins, leading to increased transaction activity and, subsequently, higher transaction costs.

Notably, the fees have since come down, and the transaction fees dropped to $34.8 on April 21. Meanwhile, according to data from Ord.io, the total number of Runes inscriptions on the Bitcoin blockchain has already reached 3,700.

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