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After the crash of the Japan and United States stock market last week, it appears the idea of ‘store of value’ cryptocurrency has heightened in popularity. On the BNB Chain [blockchain], the coming SOV token “Bitnance” appears to be going into a bullish buying cycle.
Per reports and the official transaction address, nearly 52,000 $BTN tokens have been pre-purchased across the world in the bep-20’s presale. Most recent sales appear to come from card purchases while other users are trading their $BNB coins to buy the new Bitcoin rival.
Choosing BTN over BTC Saves Traders Money
The reason many crypto traders are choosing Bitnance is its core blockchain. The “Binance Chain” aka BNB Chain is faster, less costly, and more scalable than the Bitcoin blockchain.
In terms of popularity, Bitcoin is the only cryptocurrency with a trillion-dollar market cap but it does not have the best blockchain nor its own multi-token crypto exchange. With Bitnance being a BEP-20 token, it allows users to trade and infuse into thousands of other cryptocurrencies seamlessly, with very minimal cross-chain fees.
What are BNB Chain / BTN transaction fees for 2024?
What’s the average Binance transaction fee? According to YCharts the BNB Chain only costs users 0.002 of their transaction. Per $100, a transaction will complete at less than 1-cent, which is currently the crypto market’s lowest and best trading fee.
This is a huge amount of savings for BNB chain users who choose to use the Bitnance (BTN) store of value token over BTC. The numbers would indicate it’s just a more thoughtful way; With the current economic downturn, it’s a decision of supreme intelligence.
Everything must be saved. Crossing over to $BTC is simply too costly.
What are the average Bitcoin Blockchain / BTC transaction fees?
Trading in and out of the Bitcoin blockchain has been the most costly transaction fee of all the crypto kingdoms. Last year, the average transaction fee, buy or sell, was over $30. Crypto whales, however, absorbed losses of over $1 million trying to liquidate their Bitcoins.
This year, the fee has increased, and many crypto industry gurus have clarified that the first cryptocurrency is not scalable for real-world use.
Just last month, July 15th, Bitcoin-blockchain transaction fees averaged over 4%, while this month [August], the trading fees have hovered between 1.05% and 1.58%.
Simply put, Bitcoin is not a token for daily transactions. It’s only for saving.
Why Crypto holders are buying into Bitnance (BTN) Token Presale
Whenever a crypto holder wants to use it commercially, it’s more than likely going to be a necessity to trade out to another cryptocurrency on BNB Chain or Ethereum Blockchain and lose more than 2% of their holdings in the ‘selling’ process.
This key point is likely a driving factor for those buying into the new store-of-value token on the Binance Chain. The BEP20 offers more scalability and leverage when liquidating holdings for cash early.
ICO Funds
Like the $BTC coin, the $BTN token will have a limited total token supply. Only 10-million tokens will be minted. Half of that supply is being offered in the current ICO [initial coin offering], which will help create the liquidity pool and infrastructure of the SOV project for Binance Chain.
Decentralized Ownership
However, unlike Bitcoin, the new store-of-value token will not have any ‘hidden wallets’ with stash supplies for the team developing the Bitnance project. Instead, it will be organized by respected professionals, and ownership will be relinquished to the public after $BTN launches on its first crypto exchange.
Bitcoin Founder Satoshi Nakamoto kept $60-Billion-Dollars worth of BTC
In comparison, Bitcoin has a total token supply of 21-million coins to be minted. It’s rumored the 1 million hanging over the even count of 20M was kept by founder Satoshi Nakamoto. He mined the tokens himself in 2009. Today, this would make the first store-of-value cryptocurrency’s founder worth around $61 billion.
If Nakamoto liquidated his’ stash wallet’ today, the staggering amount would make him one of the world’s richest men.
Such a liquidation could cause a major dip in the Bitcoin price.
Ethereum Blockchain’s Store of Value Generated +300% ROI Gains for Presale Holders This Year
The creator of the EThereum blockchain’s popular SOV token, Mollars, called out this disparity months ago. The ERC-20 developer essentially called Bitcoin the “USA” of the crypto world and said diversity was needed.
That developer launched the Ethereum-blocchain’s store of value token “Mollars” months ago, which saw an over +300% price increase from its initial presale price on listing day. Many liquidated holdings to reap profits, but the majority are still holding; Perhaps those crypto traders are waiting for 2025 to see if the token reaches predicted values of $4 to $5.
In fact, many who purchased $MOLLARS tokens just 4 days ago on the 5th of August, have gained an impressive +15.38% in just days.
The store of value market in crypto appears to be seeing remarkable gains as the US and Japan stock market crashes have pushed many towards Bitcoin and the Ether blockchain alternative.
As Binance Chain prepares to undertake the BEP-20 store of value, “Bitnance,” adherents can only become more eager at the potential ROI yields.
Disclaimer: The ‘Crypto Cable’ section features insights by crypto industry players and is not part of ZyCrypto’s editorial content. ZyCrypto does not endorse any company or project on this page. Readers should conduct their own independent research before taking any actions related to the company, product, or project mentioned in this piece.
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