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Registration For The Upcoming VERSE Token By Bitcoin.com Is Now Open

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Registration For The Upcoming VERSE Token By Bitcoin.com Is Now Open

Miami, Florida, 23rd May, 2022, Chainwire

Registrations are now open for the VERSE token sale, which will begin in the later part of June 2022. Interested parties who register can participate in the token sale immediately upon launch. 

VERSE is the rewards and utility token distributed to holders who participate in the Bitcoin.com ecosystem. Bitcoin.com is a global leader in introducing newcomers to cryptocurrency and is the go-to platform for educational resources, news, and more. Bitcoin.com’s ecosystem includes  30 million wallets and more than five million monthly active users across various products and services.

The VERSE token will reward users who engage in buying, selling, spending, swapping, and staying informed about cryptocurrency. Rewards will be allocated by interacting with the Verse DEX, staking VERSE, cashback paid in VERSE, and using VERSE as collateral in various lending pools. Additionally, token holders will receive access to exclusive products and services. 

VERSE is a cross-chain token using the ERC-20 token standard on the Ethereum blockchain. The Verse team will actively explore opportunities to expand the token into low-fee Ethereum Virtual Machine-compatible networks to provide an optimal user experience. 

The VERSE supply is fixed at 210 billion tokens, distributed over seven years through a block-to-block approach. A further breakdown looks as follows:

  • 10% sold during Sale A (completed in May 2022)
  • 6% being sold during Sale B (coming in June 2022)
  • 15% allocated to the team
  • 35% set aside for ecosystem incentives
  • 34% will be used for funding future development of Verse and its ecosystem

The first token sale raised $33.6 million last month from notable market participants such as Blockchain.com, KuCoin, and Digital Strategies along with thought leaders like Roger Ver, Jihan Wu, and David Wachsman.

“We were honored to see such outspoken support during our first token sale round. Furthermore, we could not be more excited about bringing our second token sale to the public and providing more people with access to VERSE. This new utility token marks a crucial milestone for the Bitcoin.com ecosystem. It will enable us to enhance the mainstream appeal of cryptocurrency and blockchain through our buy/sell services, news coverage, and educational tools” said Dennis Jarvis, CEO Bitcoin.com.

To participate in the upcoming VERSE token sale, interested parties need to register on the Verse website. They will be the first to know when the VERSE token sale is live. 

Registrants need an Ethereum wallet – such as the Bitcoin.com Wallet – to receive the VERSE tokens. Payment for the token sale is possible with Bitcoin, Bitcoin Cash, Ethereum, USDT, and USDC. 

The Verse community already counts over twenty-five thousand participants combined across Telegram and Discord. VERSE tokens will be minted following the conclusion of the Verse public sale in July. 

The VERSE token sale is not available to U.S. purchasers.
 

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Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending?

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Bitcoin

On-chain data shows the Bitcoin coinbase premium gap has improved recently and is now approaching a neutral value, suggesting the selling pressure may be drying up.

Bitcoin Coinbase Premium Gap Close To Zero, But Still Negative

As pointed out by an analyst in a CryptoQuant post, the selling pressure from US investors seems to have reduced in recent days.

The “Coinbase Premium Gap” is an indicator that measures the difference in the Bitcoin prices listed on crypto exchanges Coinbase (USD pair) and Binance (USDT pair).

The quant notes that US investors are known to use the Coinbase platform, especially high-net entities and institutions.

When the value of this metric is positive, it means the price on Coinbase is higher at the moment. Such a trend suggests there has been buying from US investors recently.

Related Reading | Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?

On the other hand, a negative premium gap implies there has been some selling on the crypto exchange as the price is lesser than on Binance.

Now, here is a chart that shows the trend in the Bitcoin Coinbase premium gap over the year 2022 so far:

The value of the metric looks to be negative right now | Source: CryptoQuant

As you can see in the above graph, the Bitcoin Coinbase premium gap has been negative in the last couple of months.

During the LUNA crash, it reached a highly red value of $131, which means there was some heavy selling from US investors then.

During the consolidation period that followed, as well as during the latest crash, the value of the indicator moved sideways around a negative $20.

Related Reading | Is Bitcoin Like Buying Google Early? Check Out The Shocking Comparison

Over the last few days, however, the trend seems to have changed and the premium gap is now observing some upwards movement.

While the indicator still has a negative value, it’s quite close to zero now as the gap between Coinbase and Binance stands at just -$5.

This shows that the selling pressure from US investors has been dying down recently, a sign that could prove to be bullish for the price of Bitcoin.

BTC Price

At the time of writing, Bitcoin’s price floats around $21.2k, up 11% in the last seven days. Over the past month, the crypto has lost 28% in value.

The below chart shows the trend in the price of the coin over the last five days.

Bitcoin Price Chart

Looks like the value of the crypto has been going up over the last few days | Source: BTCUSD on TradingView

Since the low below $18k, Bitcoin has been trying to gradually make some recovery. However, the crypto is currently finding it difficult to leave the $21k level.

Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
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Total Power Consumption of Bitcoin Network Drops Drastically in 2022

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Binance.US Lures Traders by Waving Off Bitcoin Spot Trading Fee