Key Takeaways
BTC rose nearly 10% on Monday, reaching the $56,000 level for the first time since November 2021.
Presales for Bitcoin Dogs are officially close to reaching $5 million.
Bitcoin is eyeing the $60,000 resistance level after reaching $56,000.
Cryptocurrency markets started the week on a bullish note with Bitcoin adding nearly 10% to its value on Monday. The rally helped BTC reach $56,740, its highest since November 2021.
At the time of reporting,bitcoin price At $55,850, it is up more than 8% in the last 24 hours. Thanks to the recent rally, Bitcoin market capitalization has now surpassed $1.1 trillion for the first time in over two years.
The world’s leading cryptocurrency by market capitalization will have its eyes set on the next resistance level of $60,000 if the bulls remain in control.
What are Bitcoin Dogs?
As Bitcoin rallies, it is no surprise that other Bitcoin-related projects are also seeing positive results. One such project isbitcoin dog.
Bitcoin Dogs is a unique project launching on the Bitcoin network and seeking to leverage the power of the blockchain to provide utility to users. This is the first BRC-20 token ICO on the Bitcoin network.
According to the whitepaper, Bitcoin Dogs seeks to combine the fundamental features of cryptocurrencies, non-fungible tokens (NFTs), decentralized finance (DeFi), and Web3 culture to create an interesting value proposition for investors. This will allow investors and users to enjoy an immersive experience when participating in the Bitcoin Dogs project.
Bitcoin Dogs’ ICO comes just weeks after the launch of a spot Bitcoin ETF in the United States. Spot Bitcoin ETFs launched by BlackRock, Fidelity and others are seeing record numbers as more investors buy into the Bitcoin dream. Bitcoin spot ETF trading volume hit a new high of $2.4 billion on Monday.
Moreover, the Bitcoin halving is now less than two months away, an exciting event that occurs every four years. All of this contributes to the special nature of Bitcoin Dogs’ ICOs in the market.
In general, most presales in the cryptocurrency market have been for ERC-20 and BNB tokens. However, Bitcoin Dogs is setting a new trend by introducing its native token, $0DOG, as a new BRC-20 ICO for investors in the Bitcoin blockchain.
Bitcoin Dogs presale reaches $5 million
that muchbitcoin dog Pre-sales have already raised more than $4.8 million in about three weeks since launch. This therefore indicates growing investor interest in this project and its tokens.
According to the whitepaper, 900 million $0DOG tokens will be issued. Investors will also have access to an exclusive NFT collection and immersive gaming ecosystem reminiscent of popular titles like Axie Infinity and Tamagotchi.
The team said the pre-sale will only run for a month and they are already leveraging the scarcity and novelty of the BRC-20 to attract investors.
Tokens are issued in BRC-20, but investors purchase tokens in ERC-20. They will provide their BTC wallet address, pay with ERC-20 tokens and then receive $0DOG tokens. You can pay for $0DOG tokens using ETH, USDT, and USDC stablecoins.
Click here Learn more about the Bitcoin Dogs pre-sale.
As BTC Rises, Should You Invest in the Bitcoin Dogs Project?
The cryptocurrency market has been strong since the beginning of the year, with BTC leading the way. Investors are already looking for new and interesting projects,bitcoin dog This could be one of the projects that catches your attention.
Bitcoin is currently on a rebound and projects related to BTC could record huge profits in the coming months and years. With the right level of adoption, $0DOG could become one of the gems of this Bull Run.
The post Bitcoin hits $56,000, its highest since November 2021. Will we see $60,000 soon? first appeared on CoinJournal.