Crypto Market Cap Decreases By Over $100 Billion as US Government Moves BTC to Coinbase, Algotech 1200% Presale Crosses $3.6M

The post Crypto Market Cap Decreases By Over $100 Billion as US Government Moves BTC to Coinbase, Algotech 1200% Presale Crosses $3.6M appeared first on Coinpedia Fintech News

The US Government recently shuffled around over 30k BTC of its confiscated stash between two accounts linked with it. However, it sold off 2k of its holdings to the American crypto exchange Coinbase. The sudden sell-off of the Feds’ holdings caused a general market dip that saw over $100b of market cap wiped off. 

US Government BTC Selloff

In 2022, after shutting down the dark web trading site Silk Road, the US Department of Justice (DOJ) seized about 50k BTC and began selling off bits of its holdings in small tranches. 

However, the last tranche sold off was a year ago, in March 2023. But this week, with BTC at the 60k+ range, it transferred 2k BTC to an account owned by Coinbase, and its sale didn’t go unnoticed by the wider market, as the general markets also dipped.

However, in other positive happenings, the AI trading project, Algotech, has crossed the $3.6m in presales of its token, ALGT, showing the favourable sentiments of investors towards its claim of promise.

Algotech (ALGT): The next BNB?

ALGT is an innovative adoption of AI and algorithmic development to revolutionize trading and take it to the next level. With the growing adoption of AI across boards, an experienced team of disrupters and developers have aimed to apply AI to help maximize algorithmic trading strategies and improve trader efficiency. 

To facilitate this innovation and allow for widespread participation, Algotech has released its token, ALGT, which goes for $0.08 at its presale, with a promise of 1200% returns, and many have caught its signal of potential as presales have consistently climbed, to now surpassing over $3.6m in capital raised.

Why ALGT has the potential to recreate BNB’s run

BNB, the utility token of the Binance ecosystem, has gone on to become the poster coin of the profitability of utility coins, and ALGT seems to possess similar potential because of the following:

• Revolutionizing tech: Algotech has bold aims of democratizing crypto trading by allowing users to deploy their innovative algorithm trading system that automates and improves the whole crypto trading experience by spotting and executing trades.
• Excellent Presale Showing: The Algotech ecosystem has shown credibility and viability through its presales numbers, with as high as $3.7m now raised, indicating the wide backing of the project.
• Healthy ROI: Forecasts on the ROI potential have reported favourable potential returns for investors, with some predicting returns as high as 1200% on presale purchases. This particular perk shows, above all, the potential to make another BNB run. 

The crypto market currently seems to be ranging after its long bullish run, and as investors would not want to be caught out holding the bag during a reversal, they would be looking for relatively safe but profitable options to park their funds and, of all, Algotech makes the strongest claim of meeting such needs.

Algotech is in its stage 3 token presale. To learn more about Algotech, visit the Algotech presale website or join the Algotech community.