{"id":87423,"date":"2023-11-22T06:58:17","date_gmt":"2023-11-22T11:58:17","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/as-viral-etf-token-plummets-99-this-other-bitcoin-etf-project-just-raised-1-3-million-next-100x-coin\/"},"modified":"2023-11-22T06:58:19","modified_gmt":"2023-11-22T11:58:19","slug":"as-viral-etf-token-plummets-99-this-other-bitcoin-etf-project-just-raised-1-3-million-next-100x-coin","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=87423","title":{"rendered":"As Viral ETF Token Plummets 99%, This Other Bitcoin ETF Project Just Raised $1.3 Million \u2013\u00a0Next 100x Coin?"},"content":{"rendered":"
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As market hype around the prospect of an imminent Bitcoin Spot ETF grows, so too has super-charged price action on DEX markets, but in a move shocking markets this morning, viral BTC ETF token has rug-pulled \u2013 leaving investors scrambling for alternative plays.<\/p>\n

Recent months have seen a huge trend in explosive DEX-traded token moves, with countless moon-shots garnering significant attention, including the ever-popular\u00a0APX,\u00a0SAMBO Bot,\u00a0Baby Meme,\u00a0TIME, ROCKY and IO.<\/p>\n

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\ud83d\udea8 JUST IN: #SEC<\/a> just met with #Grayscale<\/a> for spot Bitcoin ETF listing, memo shows pic.twitter.com\/yTVjS8ipwl<\/a><\/p>\n

\u2014 Satoshi Club (@esatoshiclub) November 22, 2023<\/a><\/p>\n<\/blockquote>\n

With markets scoped in on the news for any developments on the Bitcoin spot ETF front, it\u2019s no surprise that a meme coin bearing the name \u2018BTC ETF\u2019 has undertaken rapid growth on DEX markets with little to no marketing.<\/p>\n

But as is often true for DEX traded moon-shot tokens, all was not what it seemed, and a sinister rug-pull play awaited that has left 702 DEX traders penniless in the dust.<\/p>\n

$ETF Rug Pull Analysis: As BTC ETF Token Capitulates \u2013 Were The Warning Signs Written on the Wall for 702 Penniless Traders?<\/strong><\/h2>\n

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Following the thunderous crash, $ETF token is currently trading at a market price of $0.005060 (representing a 24-hour change of -95.29%).<\/p>\n

This comes following a seemingly impressive run yesterday. which saw $ETF token launch to almost instantaneous success as the fresh-faced coin surged +850% in the first hour.<\/p>\n

Lured in by the dramatic growth, $ETF token then posted a 9-hour sustained +194% rally move to resistance at $0.1162, however, this was stifled by a substantial -95% retracement move.<\/p>\n

Mysteriously this dump like price action was quickly bought up by an influx of $371k in volume, as late stage traders raced into what now appeared to be a honeypot.<\/p>\n

This left 702 bewildered holders trapped, with liquidity pulled at 14:00 on November 21, this was followed by a sweeping rug-pull 11-hours later \u2013 with price tumbling -95% in a complete scam.<\/p>\n

But with BTC ETF token posting such dramatic growth, and 702 holders now penniless \u2013 with nothing but a few illiquid digital tokens as a memoire \u2013 were the warning signs written on the wall?<\/p>\n

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\ud83d\udcc8 $ETF<\/a> $***250k+*** buy volume detected \ud83d\udea8
+ buy vol & 12.1x UP since VIP alert!<\/p>\n

\ud83d\udcca Traders 249
\ud83d\udcb0 Buy vol $253.8k
\u26a0\ufe0f Sec. risks: \ud83d\udd12 (TG)<\/p>\n

0x041badf25213e5f41cdf074d9dbf5cbb29d073d6 <\/p>\n

Details in TG: https:\/\/t.co\/Udo7mVwBq5#ETF<\/a> $gdx<\/a> $grok<\/a> $gup<\/a> $bape<\/a> $bart<\/a> $kekec<\/a> $mai<\/a> pic.twitter.com\/8Za0lbs2AN<\/a><\/p>\n

\u2014 Crypto Rick | @GoldmineAlpha (@crypto_rick_gm) November 12, 2023<\/a><\/p>\n<\/blockquote>\n

Perhaps the first warning sign emerges when you search the $ETF token address on Twitter, which reveals a prior token launch in early November \u2013 that undertook a \u2018sensational run\u2019 before vanishing for more than 10 days.<\/p>\n

This suggests a token contract being reused or recycled, and quite coyly too, as $ETF goes undetected by DEXTools built in security audits.<\/p>\n

But further examination of the token contract with a Honeypot Detector begins to ring warning bells, with the token contract found to be faulty \u2013 leading to an illusive \u2018unknown\u2019 result.<\/p>\n

However, the ability to edit buy functions alongside unlocked liquidity pools suggests this was a clear rug-pull risk from the start.<\/p>\n

Despite the loss here, traders looking for a similar ETF-themed play backed by a fully security audited token contract and reputable development team need look no further than the Bitcoin ETF presale (that\u2019s right; Bitcoin ETF \u2013 NOT \u2013 BTC ETF).<\/p>\n

This BTC ETF Alternative Token Could Skyrocket Amid Bitcoin ETF Bullrun \u2013 Don\u2019t Miss Out<\/strong><\/h2>\n

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A new Bitcoin alternative presale launched this week, offering eagle-eyed traders the opportunity to make it big on unfolding Bitcoin ETF rumors, without having to eat the $37,000 cost of becoming a wholecoiner.<\/p>\n

Bitcoin ETF Token ($BTCETF) is currently trading at a market price of $0.0056 in funding round stage 1 with an alluring $1,333,692 raised in the opening weekend of presale.<\/p>\n

Designed and built with skyrocket potential in mind, this promising token aims to bank big on market excitement surrounding the ongoing applications for Bitcoin spot ETFs.<\/p>\n

Aiming for a hard-cap of $5m in presale funding, the early-stage of this emerging project\u2019s presale offers investors a unique opportunity to get in during this early entry point, which could set the stage for life-changing gains.<\/p>\n

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#BitcoinETF<\/a> introduces a 5% transaction burn tax, gradually reducing the #Token<\/a> supply.<\/p>\n

Targeting a 25% token burn as milestones are reached.<\/p>\n

This strategy aims to reward holders and alleviate selling pressure with a deflationary approach. pic.twitter.com\/UiheUjIZB8<\/a><\/p>\n

\u2014 BTCETF_Token (@BTCETF_Token) November 22, 2023<\/a><\/p>\n<\/blockquote>\n

Ride the ETF Rally with Ease: Bitcoin ETF Token is a Critical Component in Every BTC Trader\u2019s Toolbox<\/strong><\/h2>\n

<\/span>

Indeed, Bitcoin ETF isn\u2019t simply a useless meme coin, beyond taking aim at the biggest narrative in crypto \u2013 BTCETF has a major utility: Bitcoin ETF news alerts.<\/p>\n

The token\u2019s dApp offers traders a live-feed of the latest Bitcoin spot ETF information and news, with sophisticated technology tracking applications real-time at the SEC, and high-speed bots monitoring social media for the latest breaking ETF news.<\/p>\n

But a simple feed of Bitcoin spot ETF news only highlights a fraction of Bitcoin ETF token\u2019s potential, with easy-access to real-time update alerts offering sharp traders the opportunity to make market-beating returns stress-free; being amongst the first to hear about privileged Bitcoin Spot ETF news.<\/p>\n

This could enable traders to position themselves appropriately in seismic Bitcoin market movements, making Bitcoin ETF token a critical component in every BTC trader\u2019s tool-box this Winter.<\/p>\n

Surging Interest in Bitcoin Alternatives Leaves $BTCETF Poised to Outperform $ETF Token<\/strong><\/h2>\n

Project tokenomics are bolstered by ambitious plans for the incorporation of staking rewards that incentivise long-term holding, alongside a burn mechanism, which will enhance $BTCETF as a \u2018digital gold\u2019 alternative, by creating a deflationary mechanism in price.<\/p>\n

Set for stage 3 of the\u00a0Bitcoin ETF project roadmap, an initial burn mechanism will be introduced amid a well-marketed DEX launch, imposing an initial 5% burn tax on transactions \u2013 this will be reduced by -1% each time a Bitcoin ETF news milestone is reached.<\/p>\n

However, plans are afoot for a larger burn mechanism in stage 4, in a move that will see 25% of token supply burned overtime, this will be conducted in 5% burn intervals \u2013 with each supply-side reduction taking place as a Bitcoin ETF news milestone is met.<\/p>\n

The milestones for the burn mechanism are as follows:<\/p>\n