Among the more complex crypto assets there is a type called Hashrate tokens, which might be promising as those tokens serve as a bridge between the worlds of DeFi and mining. One of the prominent examples is Bitcoin Standard Hashrate Token. To find out what is happening with this token and what to expect in the future, you can read this article where we gathered some information, including BTCST coin price predictions.
Bitcoin Standard Hashrate Token Price Prediction: What Are Hashrate Tokens And What Is Their Future?
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Bitcoin Standard Hashrate Token Fundamental Analysis
BTCST (Bitcoin Standard Hashrate Token) — is a project aiming to become an intermediary between Decentralized Finances and Bitcoin hashrate assets. It is represented as a cloud mining service that provides participants with exposure to the mining rewards for a lower price. BTCST was set up on Binance Smart Chain in January 2021 and works as a base for the trading, lending, and borrowing protocols to build on. BTCST aims to increase the participation of Bitcoin mining in the open market and to expand the liquidity and productivity of the Bitcoin mining markets.
BTCST tokens are issued only when qualified miners decide to normalize Bitcoin hashrate and transform it into tokens. Then holders can access Bitcoin mining while being in the DeFi ecosystem and do it at any size, any time with cheaper prices, without running a mining rig. The rewards are paid in BTCB, a wrapped version of BTC on BSC, or in the native BTCST crypto. Each token has a 0.1 TH/s of Bitcoin mining capacity with 60W/Th productivity.
By staking their assets the holders share their computational power. It allows them to receive the daily redistributions of Bitcoin mined. The snaps of participants’ balances and pool balances are checked every hour to define the rewards. The total supply is limited to the summarized amount of all the tokens staked set as 15 million tokens. On March 15 BCTST coin went through 1:10 token redenomination across the partner’s exchanges and wallets according to the STP-4 step proposal.
Any appearing material issues related to the project are resolved or initiated by the holders, miners, and differentiated token community. All the decisions, proposals, and their results are recorded within the chain.
Bitcoin Standard Hashrate Token Live Price Chart
According to the technical analysis of the BTCST price, it has been following bearish tendencies since its launch. Only right after the launching token price was growing, reaching an all-time high of $93 on April 15, 2021. After that, it started to drop with slight corrections, and then it has stabilized at the level of $17-20 per token.
Last month token prices started to grow again and have increased more than 100% since the beginning of September. But the trend lasted just for two days and then started to drop again. BTCST price predictions are mainly not too optimistic. According to most charts, the token price is not likely to grow and it is considered possible for it to completely drop to 0 at any moment. The maximum expected price for the token by the end of 2021 is $87.