BTC beta. Bitcoin Halving is scheduled for Saturday, April 20, but HODLing BTC is far from an exciting activity for crypto degens! What actions can you take before this event to gain high beta exposure to BTC and potentially capture increased upside (or downside) potential?
Historically, the Bitcoin halving has coincided with an immense appreciation in the price of BTC, attributed to a decrease in inflationary block rewards reducing selling pressure from miners and allowing the coin to enter price discovery mode.
Many crypto traders expect this year's halving to yield similar results, but are dissatisfied with BTC's relatively moderate return profile; for them, higher beta alternatives increase volatility while providing the ability to continue holding crypto assets in cash, eliminating the complications of leverage and liquidation risks.
For those with large capital to deploy and comfortable with more illiquid instruments, investments in popular Bitcoin ordinals, including Bitcoin Puppets and NodeMonkes, could generate massive returns if BTC pumps after the halving.
Ordinal NFTs are denominated in BTC, which means that their dollar price will increase with a rise in BTC, and an increase in the price of BTC would likely attract more investors to buy them in order to take advantage of greater upside potential. price movements.
Ordinals will be one of the most obvious games of all time, it will be with Solana.
– moon (@MoonOverlord) April 18, 2024
Excitement is growing for Runes, a new token standard that will launch during the halving and is likely to supplant BRC-20s as the chain's official fungible token standard, but enthusiasm is not growing. is perhaps in its early stages, given that the standard has not yet been launched. .
Even though the first Runes haven't been released yet, that hasn't stopped traders (and developers) from trying to capitalize on the hype!
Runestones is an NFT collection of 112,000 ordinals created in March that gained momentum on the momentum of Runes, not only because of its similar name, but also because its developer promised that holders would receive at least 3 airdrops Different memecoin runes.
RUNESTONE HOLDERS WILL RECEIVE 3 AIRDROPS RUNES MEMECOIN
NAME: DOG
SUPPLY: █████████
WHEN: LATER THIS MONTHNAME: ███
SUPPLY: █████████
WHEN: LATER THIS YEARNAME: ███
SUPPLY: █████████
WHEN: EVERY TIME WE HAVE REACHED #1– Leonidas (@LeonidasNFT) April 8, 2024
One of the most popular liquid tokens offering upside exposure to Runes right now is PUPS, a memecoin based on but not affiliated with the popular Ordinals NFT Bitcoin Puppets project.
Currently, PUPS is based on the BRC-20 standard, but the recent announcement of its transition to the Runes standard caused the price of the tokens to surge by almost 100% and got many traders excited that the token may benefit from continued tailwinds after the halving.
Not only is the PUPS token available on Bitcoin, but a bridged representation is available on the Solana network, the undisputed most popular chain for trading memecoins.
Pups is a memecoin on the world's largest blockchain, Bitcoin.
Pups migrate to Runes with a BRC20 pre-rune and Ordinal as mint/burn:
BRC20 puppies – 77%
Rune Puppets – 23%Note: Pups is also available on Solana, which is a 1:1 bridged token.
Walk :
BTC-UniSat:…– Puppies (@PupsToken) April 13, 2024
Alternatively, some degens may choose to stick with the relative classics, preferring instead to emulate the OG Bitcoin fungible meme token that started it all: ORDI. It is worth noting that attention seems to be shifting to newer projects, as evidenced by the fact that ORDI fell by over 40% in the month of April.
The application scene on Bitcoin remains immature, but for investors who prefer to emulate more of pick-and-shovel infrastructure with some degree of fundamentals, Bitcoin L2 solutions like Stacks Network (STX) or bridging infrastructure like Multibit (MUBI ) remain viable games. to capitalize on the increased attention that could be given to Bitcoin after the halving.
Although Bitcoin miners have historically offered increased advantages over Bitcoin, they will likely find themselves in trouble post-halving after their revenues are cut in half, making their shares an investment best avoided before and immediately after the halving.