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The cryptocurrency market has entered a mini-winter period as the recent rally fades and as investors reflect on last week’s approval of a Bitcoin ETF. Bitcoin remained under pressure at $43,000 while the total market cap of all digital coins has eased to $1.76 trillion.

Cryptocurrencies are not the only struggling assets as stocks and commodities have retreated as hopes of rate cuts ease. American stock indices like the Dow Jones, Nasdaq 100, and Russell 2000 have all retreated. Globally, indices like the Nifty 50 and the Hang Seng also crashed hard.

Still, Bitbot, a company that launched its token sale on Wednesday, is doing well as it attracts investors from around the world. According to its website, Bitbot has raised almost $30,000, a few hours after the token sale started. The developers area aiming to raise $200k in the first stage before they increase the price gradually.

Token sales have become a popular route for crypto projects to raise money. These sales raised millions of dollars in 2023 and analysts expect that the growth will be stronger this year as interest rates start moving lower. There is also a possibility that demand will rise ahead and after Bitcoin goes through a halving event in April.

Many people who invested in token presales have made a fortune in the past few months. For example, at its peak, Metacade had a market cap of over $32 million, higher than the $15 million that the developers raised in their token sale. 

Bitbot is a company that seeks to change the crypto trading industry. It aims to do that by creating a self-custodial trading bot that will help traders automate trading and generate strong results over time. It will have institutional-grade performance, a smooth user experience, and lightning-fast execution.

Most importantly, Bitbot has inbuilt anti-rug algorithm features that help to preemptively detect and reduce risks in the market. You can read more about the bot in this white paper.

Bitbot will be powered by the $BITBOT token, which will have several features like revenue sharing, exclusive access to features in the ecosystem, and community participation. It will also be used to pay for access and foster governance when it becomes fully decentralized.

$BITBOT has a supply limit of 1 billion tokens. According to the tokenomics, 20% of these will go to development while 30% will be offered to the public through the resale process. Other tokens will go towards marketing, treasury, community, and liquidity.

Investing in crypto tokens is a high-risk and high-reward thing. When it works, the process can be highly rewarding as we saw with tokens like Pepe and Bonk. Early investors in these tokens made a fortune as they surged in 2023.

Therefore, the rule is that people should only invest a small portion of their funds in these tokens. In this case, if the token price rises, they will see strong returns. On the other hand, if the token collapses, their losses will be minimal.

The post Bitbot token sale starts with a bang even as crypto rally stalls appeared first on Invezz

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