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As Bitcoin and the broader market rise, a new BTC-inspired token, Green Bitcoin (GBTC), is rising in prominence in the ongoing presale. It is an eco-friendly Bitcoin alternative, piquing the interest of eco-conscious investors and ESG-aware institutions alike.
But the project also appeals to the broader crypto market, offering a prediction game where users can earn GBTC rewards.
The presale has been in high demand, recently surpassing the $1 million mark.
GBTC taps into emerging prediction market narrative
The Ethereum network’s programmability opens it to many world-changing use cases. One of those is prediction markets, an auditable on-chain betting system where users can wager on the outcome of future events.
Crypto’s prediction market industry holds no shortage of potential use cases, with analyst Prithvir explaining it is already impacting political elections and news.
Polymarket is currently the industry leader, processing over $45 million in volume over the last 30 days.
Yet, with the market still in its infancy, Green Bitcoin looks to cash in, enabling GBTC holders to “earn big by predicting Bitcoin trends.”
While the exact market mechanics have yet to be announced, its website notes that “multiple prediction options” will be available.
Meanwhile, its whitepaper explains users can bet whether the price of Bitcoin will rise or fall the next day.
Users stake their GBTC tokens to access the market and make predictions. They can claim their rewards once the staking period ends.
As per its website, users can earn “exponential rewards” from staking and up to 100% bonuses from the predictions feature.
Currently, Green Bitcoin staking offers a 257% APY, but this will decrease as more tokens are staked.
Is Green Bitcoin better than BTC?
Not to be confused with Grayscale’s GBTC Bitcoin spot ETF, Green Bitcoin’s GBTC is an ERC-20 token for staking, storing, and transferring value within the project’s ecosystem.
Launching on the Ethereum network offers a more eco-friendly alternative to the original Bitcoin. This is because Ethereum leverages a proof-of-stake consensus mechanism, demanding just 34 Wh of energy per GBTC transaction.
In comparison, Bitcoin’s energy-intensive proof-of-work mechanism demands 1,173,000 Wh per transaction. This equates to a 99.9975% energy reduction for GBTC.
But that’s not the only reason investors are rushing to the Green Bitcoin presale.
Its staking and predictions functionality offers a unique utility advantage. Furthermore, launching on Ethereum means Green Bitcoin can be used within other Ethereum-based dapps like DeFi protocols.
Lastly, with Bitcoin’s market cap north of $1.1 trillion, its upside is limited in the upcoming market cycle. According to analysts at Bernstein, Bitcoin could reach highs of $150K this cycle .
Comparatively, Green Bitcoin’s early stage and low market cap lay the way for much more upside potential. While not without risk, many altcoins experience 10-100x gains in bull markets.
However, Green Bitcoin’s tokenomics must align to support sustained growth throughout the coming cycle.
GBTC tokenomics and presale
According to its website, 40% of Green Bitcoin’s total supply is allocated to the presale, 27.5% to community rewards, 17.5% to marketing, 10% to liquidity, and 5% to community rewards.
This distribution ensures that the majority of tokens are earmarked for the community and that the project has the resources to grow and expand long-term.
The whitepaper explains that the marketing budget “focuses on crafting impactful campaigns and is key to enhancing global visibility and keeping GBTC prominent.”
Potential investors can buy the GBTC presale on the Ethereum network (with ETH or USDT) or Binance Smart Chain (with BNB).
The token generation event (TGE) will occur on the Ethereum network at the end of the presale.
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This article first appeared at crypto.news
