With a 24-hour trading volume of over 100 million, will BVM become the Bitcoin version of AltLayer?

Asher

Odaily资深作者

@Asher_0210

2024-03-12 16:07 (UTC+8)

This article is about 1039 words, reading the full article takes about 2 minutes

The highest price of the token after listing was 20 times higher than the public sale price.

AI Summary

The highest price of the token after listing was 20 times higher than the public sale price.

Original - Odaily

Author - Asher

Recently, as the price of BTC broke through all-time highs, the opening results of some new projects were extremely eye-catching.

Among them, the most impressive one is BVM. The trading volume exceeded 100 million US dollars in less than 24 hours after the opening of the market. The highest price after its token went online exceeded the public sale price by 20 times (the public sale price was US$0.205). Dexscreener data shows that the highest price of BVM exceeded 4.9 USDT and is now trading at 4.36 USDT, with a 24H increase of 20.17%.

Image source:Dexscreener

What is BVM?

Bitcoin Virtual Machine is a modular L2 meta-protocol on the Bitcoin ecosystem, allowing users to participate in Bitcoin L2 through simple operations, providing Bitcoin L2 as a Service, and its project token is BVM.

Image source:Official website

According to the official document released by Bitcoin Virtual Machine, the total supply of BVM is 100 million, and the specific distribution ratio is as follows:

Community: 50,000,000 BVM, 50% of total supply;
Team: 20,000,000 BVM, 20% of total supply;
Public sale: 15,000,000 BVM, 15% of total supply;
Liquidity: 10,000,000 BVM, accounting for 10% of the total supply;
Project Advisor: 5,000,000 BVM, 5% of total supply.

BVM Token Economic Model

According to the official documentation, there are 5 projects deployed in BVM, each project focuses on different sectors, including Bitcoin Arcade focusing on the GameFi sector, Naka focusing on the DeFi sector, Alpha focusing on the SocialFi sector, Eternal AI focusing on the AI sector, Modular focusing on the education sector. These projects have the following in common: the block time is 2 seconds, the transaction cost is less than $0.001, the Rollups solution is Optimistic, and the Data Availability is Polygon.

At the same time, Bitcoin Virtual Machine will update the project progress in the next few months on the official website, specifically:

April 2024: BVM staking.Stake BVM tokens and receive staking rewards from different Bitcoin L2 blockchains within the BVM ecosystem;

May 2024: Developer ecosystem.BVM powers thousands of Bitcoin L2s with build teams from around the world;

June 2024: Modular store.Developers can choose to deploy pre-installed dapps for their Bitcoin L2, such as DEX, NFT Marketplace, etc.

Image source:Official documentation

Currently, it is possible to earn up to 58% annualized returns through BVM and receive airdrops from the upcoming Bitcoin L2 project.

BVM pledge

Hot opening

So, what is the reason why the BVM project is so popular among domestic and foreign communities after its launch?Odaily combines social media public opinion and data to summarize as follows:

“AltLayer” on Bitcoin: Bitcoin Virtual Machine is the first modular Bitcoin L2 protocol. ALT’s market value exceeds US$650 million, while BVM’s market value is still less than US$50 million, with great potential for growth;
Overseas KOLs call for orders: Whether it is Twitter or Telegram, it is easy to find that a group of overseas Alpha Calls are promoting BVM;
Large opening trading volume: On the opening day, BVM’s market capitalization was less than US$20 million, but its daily trading volume was as high as US$100 million, which shows the high popularity of secondary trading;
Fast development progress: The ecosystem has deployed multiple projects, involving GameFi, DeFi, SocialFi, AI and education sectors.

NAKA IDO participates

Holders of BVM tokens can participate in the upcoming IDO of the ecological DeFi sector project Naka Chain. The project token is NAKA. The IDO Ticket is currently open. The specific participation details are as follows:

Draw time: March 14 at 8 a.m. UTC;
Exchange ratio: 1 ticket = 200 BVM;
Participation Deposit: Each raffle winner will keep $100 and the remainder will be automatically refunded;
Refund without winning: If the lottery is not won, the BVM staked by the user will be automatically refunded.