Crypto
New cryptocurrency GBTC hits 5M: What is Green Bitcoin, and why are traders backing it for its upside potential?
With the presale rapidly progressing, the early adopter’s opportunity to get positioned at the lowest price is quickly running thin as the price consistently increases in the unique fundraising design.
Green Bitcoin officially crossed the $5 million fundraising milestone, as traders back the predict-to-earn protocol for considerable gains in the coming weeks. The project has created a unique staking mechanism that allows users to place forecasts on the future price of Bitcoin to earn massive rewards scaled to their level of investment while earning staking rewards simultaneously.Green Bitcoin is being hailed as a greener alternative to Bitcoin. It combines Bitcoin’s legacy with Ethereum’s co-friendly proof-of-stake mechanism. As a result, Green Bitcoin has birthed an ecosystem tied to Bitcoin’s price through price predictions with no environmental impact.
The project intends for its blockchain to experience a high level of activity. Its users will consistently stake $GBTC to participate in the daily price contests and earn massive rewards. The price contests are rooted in the staking system, and the team will release new daily and weekly challenges based on Bitcoin’s price action to keep the content fresh.
What is Green Bitcoin, and how does it reward users for accurate price forecasts?
Spotlight WireGreen Bitcoin introduces a novel staking ecosystem called Gamified Green Staking. This ecosystem allows users to stake $GBTC tokens to be eligible to place daily price predictions on Bitcoin’s value. Those who accurately place correct forecasts are proportionally rewarded from the daily mining rewards pool, scaled to their level of commitment to the ecosystem.Green Bitcoin pays homage to Bitcoin’s legacy. Its rewards are distributed to winners every ten minutes, in line with the original Bitcoin block schedule. Contestants can claim their accumulated rewards from the protocol once every 24 hours to keep transaction costs low. The team has allocated an enormous 27.5% of the entire $GBTC supply to provide the rewards for accurate predictions for the next two years.
Spotlight WireUsers must lock their $GBTC into the Gamified Green Staking mechanism and submit their forecast before 11:30 PM EST to participate. At midnight, the smart contract will tally the day’s stakes against the actual price of Bitcoin and reward forecasts that land in the ‘Green Zone.’
As mentioned, the rewards earned depend on the level of investment made and the duration committed to the ecosystem. For example, those who have staked their $GBTC tokens in the Gamified Green Staking mechanism for more than a week are entitled to a 5% bonus on top of their regular daily rewards to recognise their extended commitment.
Those staking their tokens while participating in the daily price contests also earn an APY reward on top of their holdings through daily passive staking. The staking currently provides a 110% APY return, further incentivising users to keep their $GBTC locked into the ecosystem.
Why are traders backing it for huge upside potential?
Spotlight WireTraders are quickly flocking to the presale, expecting upside potential for $GBTC due to its supply constraint dynamics.
Influential YouTubers ClayBro and Matthew Perryare backing the project with bullish views. They believe the unique staking system will cause $GBTC to surge following its exchange listing.
Users are required to stake their $GBTC into the ecosystem to participate in the price contests, so the tokens aren’t available for purchase on the open market. As a result, these experts predict that there might be a supply shock on centralised and decentralized exchanges as most $GBTC will be locked into the ecosystem.
Therefore, newcomers to $GBTC will likely be forced to pay higher prices to acquire the token and participate in the predict-to-earn ecosystem following the presale.
Investors are comparing the supply dynamics for Green Bitcoin as very similar to those of Bitcoin itself, which is currently experiencing a pre-halving rally ahead of its block reward cut. Both cryptocurrencies will likely experience massive supply shocks on the open market, causing prices to surge.
How to buy $GBTC today
$GBTC can be purchased at presale prices through the project’s website. Green Bitcoin is utilising the Web3Payments gateway to ensure the safety and security of everybody investing.
- Go to the official $GBTC presale page.
- Fund your wallet with $ETH or $USDT and connect to the Web3Payments widget.
- Use the presale widget to swap your currency for $GBTC, entering the desired amount you wish to purchase.
- If you prefer plastic, order $GBTC tokens to your wallet using your credit/debit card.
Once purchased, your $GBTC will be automatically staked, allowing you to start earning a return on your investment throughout the presale stage. You can claim your $GBTC through the same portal when the token officially launches.
Overall, it’s unsurprising to see investors rushing to the $GBTC project, which, with its unique staking dynamics, is about to cause a supply shock on the open market, leading to much higher prices following the presale.
Buy $GBTC today.
Disclaimer: The above content is non-editorial, and TIL hereby disclaims any and all warranties, expressed or implied, relating to the same. TIL does not guarantee, vouch for or necessarily endorse any of the above content, nor is it responsible for them in any manner whatsoever. The article does not constitute investment advice. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified.
Tether is the largest stablecoin issuer with $186 billion of its USDT tokens in circulation. The company previously took an
Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was sentenced on Thursday to 15 years in prison for for what a judge called an “epic fraud.”
U.S. District Judge Paul A. Engelmayer, who handed down the sentence, sharply rebuked Kwon for repeatedly lying to everyday investors who trusted him with their life savings.
“This was a fraud on an epic, generational scale. In the history of federal prosecutions, there are few frauds that have caused as much harm as you have, Mr. Kwon,” Engelmayer said during a hearing in Manhattan federal court.
Kwon, 34, who co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies, previously pleaded guilty and admitted to misleading investors about a coin that was supposed to maintain a steady price during periods of crypto market volatility.
He is one of several cryptocurrency moguls to face federal charges after a slump in digital token prices in 2022 prompted the collapse of a number of companies.
Dressed in yellow prison garb, Kwon addressed the court and apologized to his victims, including the hundreds who submitted letters to the court describing the harm they had suffered.
“All of their stories were harrowing and reminded me again of the great losses that I’ve caused. I want to tell these victims that I am sorry,” Kwon said.
Ayyildiz Attila, one of the hundreds of victims who submitted letters to the court, said he lost between $400,000 and $500,000 in the collapse.
“My savings, my future, and the results of years of sacrifice disappeared. I struggled to keep up with payments and responsibilities, and everything I had worked forwas erased,” Attila said.
Kwon’s lawyer Sean Hecker said in an email after the sentencing that Kwon spoke from the heart, expressed genuine remorse and will continue his efforts to make amends.
US Attorney Jay Clayton in Manhattan said in a statement following the hearing that Kwon devised elaborate schemes to inflate the value of his cryptocurrencies and fled accountability when his crimes caught up to him.
Prosecutors had asked for a sentence of at least 12 years in prison, saying the crash of Kwon’s Terra cryptocurrency caused billions of dollars in losses and triggered a cascade of crises in the crypto market.
Kwon’s lawyers had asked that he be sentenced to no more than five years so he can return to South Korea to face criminal charges.
Prosecutors charged Kwon in January with nine criminal counts for securities fraud, wire fraud, commodities fraud and money laundering conspiracy.
Kwon was accused of misleading investors in 2021 about TerraUSD, a so-called stablecoin designed to maintain a value of $1. Prosecutors alleged that when TerraUSD slipped below its $1 peg in May 2021, Kwon told investors a computer algorithm known as “Terra Protocol” had restored the coin’s value.
Instead, Kwon arranged for a high-frequency trading firm to secretly buy millions of dollars of the token to artificially prop up its price, according to charging documents.
Kwon pleaded guilty in August to two counts, conspiracy to defraud and wire fraud, and apologized in court for his conduct.
“I made false and misleading statements about why it regained its peg by failing to disclose a trading firm’s role in restoring that peg,” Kwon said at the time. “What I did was wrong.”
Kwon agreed in 2024 to pay $80 million as a civil fine and be banned from crypto transactions as part of a $4.55 billion settlement he and Terraform reached with the Securities and Exchange Commission.
He also faces charges in South Korea. As part of his plea deal, prosecutors will not oppose Kwon’s potential application to be transferred abroad after serving half his US sentence.
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