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, /PRNewswire/ -- The price is hovering around the mark in readiness for a breakout to if and when a ETF is approved, possibly as early as today, while tokenized cloud-mining innovator ($BTCMTX) has raised more than from contributors. The fundraising for Minetrix is speeding up, with of the total so far raised in the past four weeks alone. Currently priced at in Stage 17 of its ICO, Minetrix is pioneering tokenized cloud mining. With less than 24 hours to go before the presale price of the $BTCMTX token rises to , there is no time to lose to lock in the lowest available price. Volatility in the price is heating up as speculation and rumor abound regarding the expected approval of the first ETF in the US draws ever closer. reported yesterday that SEC lawyers held meetings with the US exchanges on which the ETFs will be trading – the New York Stock Exchange, Nasdaq, and the Board Options Exchange. This was taken as yet another positive sign that the SEC will approve the spot ETF. It follows a client note two days ago from -based Matrixport that said it expected the SEC to reject the applications before it, with approval more likely to come in the second quarter. The report sent the price into a tailspin, but it has since made up more than half of the losses that saw it trading as low as after a 10% drop. This week's dramatic moves in the price speak to the relative immaturity of the market, but also the binary nature of the narrative, at least in part, underpinning the bull story going into 2024. But for investors looking to get exposure to the price upside that will flow from the spot ETF approval and the four-yearly halving of block rewards sometime in April, Minetrix provides a less risky way to play this market. If are right, there is still a 90% chance of approval coming in January, but even if it is Q2 2024, an investment in today provides a way to enter the market that avoids exposure to the extreme volatility seen in recent days. On Wednesday, when lost 10% of its value in minutes, it led to hundreds of millions of dollars in forced liquidations of long positions held by traders, often on leverage. , research analyst at CCData (formerly CryptoCompare), told Bloomberg, "While it still seems likely that a spot ETF will be approved in the coming days, any delay contrary to the market consensus is likely to result in a larger drawdown for digital assets." Across the derivatives exchanges, as much as was erased from trader accounts. Meanwhile, data compiled by Coinglass for 3 January showed in liquidation of long positions. Minetrix's advantages over buying mining rigs and trying to set up a business by yourself are obvious in terms of the far lower upfront capital outlay involved in cloud mining. There's also no need to worry about getting to grips with the complicated intricacies of the protocol. Running on , rewards stakers of its native $BTCMTX token with cloud-mining credits. By doing so, it opens up a passive income stream offering a percentage of the mining revenue based on the share of cloud-mining credits. The cloud-mining credits are exchangeable for cloud-mining power. The pay-as-you-go approach of the cloud mining model is attractive, but it has its downsides – that is until Minetrix appeared on the scene to offer a different approach. Cloud mining unfortunately has developed a bad reputation . A quick Google and it won't take long before coming across a story about victims handing over hard cash for a cloud mining contract, only for no mining rewards ever to be earned and distributed by the service purveyor. Minetrix is -resistant because everything is on-chain. The system's stake-to-mine smart contract handles all of the cloud credits and allocation to mining and the time period over which mining is to take place, all set by the user via their own bespoke dashboard. Transparency and efficiency combine to deliver an easy-to-use product that threatens to unleash revolutionary change in the cloud mining space. A byproduct of this near-frictionless route into mining is the way in which it can help to grow the hash power (computing resource) of the network, making it even more secure and . At the beginning of 's journey to transform money, it was possible to mine the digital currency on a laptop, but those days are long gone. However, with Minetrix the door has been reopened for the little guy. As you would expect, the largest allocation of the funds will go directly into the mining operations – 42.5% of the BTCMTX tokens. Marketing efforts to ensure that the project gains traction will take up 35% of the token allocation, while 12.5% is for BTCMTX staking rewards which will be distributed in the period prior to the Minetrix cloud mining platform going live. 10% is allocated to community rewards for active participation in the project. The team recently appointed ambassadors to start putting in place partnerships with cloud vendors, other businesses and stakeholders to effect a flawless launch. Mohammad Sitaboha, and Ghazi Sitaboha will be leading from the front for the project. Mohammad is a highly experienced marketing strategist while Lutfi brings a wealth of knowledge in finance and sustainability. Ghazi is focused on cementing the key financial and business partnerships essential to the project's innovative approach to mining. Keep up to date with all the Minetrix presale news and product developments on the , , and . Media contact - , Photo - SOURCE Bitcoin Minetrix
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