As Viral ETF Token Plunges 99%, This Other Bitcoin ETF Project Just Raised $1.3 Million – The Next 100x Coin?

As market hype builds around the prospect of an upcoming Bitcoin spot ETF, price action in DEX markets has also increased, but in a move that shocked markets this morning, the viral BTC ETF token is off the hook over – and investors are looking for alternative options.

There has been a huge trend of explosive DEX-traded token moves over the past few months, with countless moonshots attracting widespread attention, including the ever-popular APX, SAMBO Bot, Baby Meme, TIME, ROCKY and IO.

🚨 JUST IN: #SEC just met with #Grayscale to conduct spot Bitcoin ETF listing, memo shows pic.twitter.com/yTVjS8ipwl

— Satoshi Club (@esatoshiclub) November 22, 2023

With markets paying attention to developments in the Bitcoin spot ETF space, it is no surprise that a meme coin called “BTC ETF” has seen rapid growth in the DEX markets without that there was hardly any marketing.

But as is often the case with DEX-traded moon shot tokens, all was not as it seemed, and a sinister diversion awaited that left 702 DEX traders penniless in the dust.

$ETF Rug Pull Analysis: As BTC ETF Token Capitulates – Were the warning signs written on the wall for 702 cash-strapped traders?

After the thunderous crash, the $ETF token is currently trading at a market price of $0.005060 (representing a 24-hour change of -95.29%).

This comes on the heels of what appeared to be an impressive run yesterday. The launch of the $ETF token was an almost instant success as the new coin surged +850% in the first hour.

Lured by the dramatic growth, the $ETF token then recorded a 9-hour sustained rise of +194% to resistance at $0.1162, but this was stifled by a significant -95% retracement trend.

Mysteriously, this dump-like price action was quickly bought up by a $371,000 volume inflow as late-stage traders plunged into what now looked like a honeypot.

This resulted in 702 confused holders being trapped and liquidity being withdrawn at 2:00 pm on November 21st. A massive withdrawal followed 11 hours later – with the price dropping -95% in a complete scam.

But given the BTC ETF token’s dramatic growth and 702 holders penniless – with nothing but a few illiquid digital tokens to remember them – were the warning signs written on the wall?

📈 $ETF $***250k+*** purchase volume detected 🚨
+ Buy volume & 12.1x UP since VIP alert!

📊 Dealer 249
💰 Purchase volume: $253.8K
⚠️ Sec. Risks: 🔒 (TG)

0x041badf25213e5f41cdf074d9dbf5cbb29d073d6

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

— Crypto Rick | @GoldmineAlpha (@crypto_rick_gm) November 12, 2023

Perhaps the first warning sign that pops up is when you search Twitter for the $ETF token address that reveals a previous token launch in early November – which had a “sensational run” before disappearing for more than 10 days.

This suggests that a token contract is being reused or recycled, and that’s pretty timid too, as $ETF goes undetected by DEXTools’ built-in security checks.

But further examination of the token contract with a honeypot detector raises alarm bells: the token contract turns out to be flawed – leading to an illusory “unknown” result.

However, the ability to manipulate purchase functions alongside unlocked liquidity pools suggests that this was a clear risk from the start.

Despite the loss here, traders looking for a similar ETF-themed play backed by a fully security-tested token contract and a reputable development team need look no further than the Bitcoin ETF presale (that’s right; Bitcoin ETF – NOT – BTC ETF).

This BTC ETF alternative token could skyrocket amid the Bitcoin ETF bull market – don’t miss out

A new Bitcoin alternatives presale launched this week, offering astute traders the opportunity to make it big by spreading Bitcoin ETF rumors without the $37,000 it costs to become a Wholecoiner.

The Bitcoin ETF token ($BTCETF) is currently trading at a market price of $0.0056 in its first round of funding, having raised a tempting $1,333,692 during the opening weekend of the presale.

Designed and built with skyrocketing potential in mind, this promising token aims to capitalize heavily on the market excitement surrounding the ongoing Bitcoin spot ETF applications.

The early presale phase of this emerging project is targeting a hard cap of $5 million in presale financing, providing investors with a unique opportunity to get in at this early entry point, which could set the stage for life-changing profits.

#BitcoinETF introduces a 5% transaction burn tax, gradually reducing #token supply.

A token burn of 25% is targeted when milestones are reached.

This strategy aims to reward holders and reduce selling pressure through a deflationary approach. pic.twitter.com/UiheUjIZB8

– BTCETF_Token (@BTCETF_Token) November 22, 2023

Experience the ETF Rally with Ease: The Bitcoin ETF token is an important part of every BTC trader’s toolbox

In fact, Bitcoin ETF is not just a useless meme coin, aside from targeting the biggest narrative in cryptocurrency – BTCETF has a big utility: Bitcoin ETF news alerts.

The token’s dApp provides traders with a live feed of the latest Bitcoin spot ETF information and news, with sophisticated real-time technology tracking applications at the SEC and high-speed bots that alert social media to the latest ETF news monitor.

But a simple feed of Bitcoin spot ETF news highlights only a fraction of the Bitcoin ETF token’s potential. Easy access to real-time update alerts offers smart traders the opportunity to achieve above-market returns without the stress. Be among the first to hear about privileged Bitcoin Spot ETF news.

This could allow traders to appropriately position themselves in seismic Bitcoin market moves, which would make the Bitcoin ETF token an important part of every BTC trader’s toolbox this winter.

Rising interest in Bitcoin alternatives ensures $BTCETF will outperform the $ETF token

The project’s tokenomics will be supported by ambitious plans to incorporate staking rewards that incentivize long-term holding, as well as a burn mechanism that will strengthen $BTCETF as a “digital gold” alternative by creating a deflationary pricing mechanism.

Scheduled for Phase 3 of the Bitcoin ETF project roadmap, a well-marketed DEX launch will introduce an initial burn mechanism that imposes an initial 5% burn tax on transactions – this will be applied each time a Bitcoin -ETF news is released, reduced by -1% Milestone is reached.

However, there are plans for a larger burn mechanism in Stage 4, where 25% of the token supply will be burned over time. This will be done in 5% burn intervals – with any reduction on the supply side occurring as the Bitcoin ETF news milestone is reached.

The milestones for the burning mechanism are as follows:

• Milestone 1 – $BTCETF trading volume reaches $100 million – The burn tax on transactions has been reduced 5% to 4%and 5% of the total supply is burned.
• Milestone 2 – First Bitcoin ETF is approved by the SEC – The combustion tax on transactions will be reduced 4% to 3%and another 5% of the total supply is burned.
• Milestone 3- First launch date for the Bitcoin ETF – The combustion tax on transactions will be reduced 3% to 2%and another 5% of the total supply is burned.
• Milestone 4 – Bitcoin ETF Assets Under Management (AUM) Reaches $1 Billion – The combustion tax on transactions will be reduced 2% to 1%and another 5% of the total supply is burned.
• Milestone 5 – Bitcoin price hits $100,000 – The combustion tax on transactions will be reduced 1% to 0%and another 5% of the total supply is burned.

This will lead to a gradual decline in the overall supply, eventually leaving around 70% of BTCETF in circulation, with the reduction in supply leading to an increasing price increase.

And that’s without taking into account the potential for token value appreciation due to traders’ demand for access to the ETF News dApp and the ever-present demand for Bitcoin alternatives.

In fact, 2023 saw explosive growth in Bitcoin-related tokens – with markets showing real interest in BRC-20 ordinal tokens, Bitcoin cloud mining and Bitcoin derivatives.

So don’t miss your chance to get in on the next big Bitcoin rally early – contact the project on X (Twitter) and Telegram for more information.

Buy Bitcoin ETF here

Disclaimer: Crypto is a high risk asset class. This article is for informational purposes and does not constitute investment advice. You could lose all of your capital.

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