Recently, the US government shuffled over 30,000 BTC from its confiscated stash between two accounts linked to it. However, he sold 2,000 of his holdings to the American crypto exchange Coinbase. The sudden liquidation of the feds' holdings caused an overall market crash that wiped out more than $100 billion in market capitalization.
US Government BTC Selloff
In 2022, after shutting down the dark web trading site Silk Road, the US Department of Justice (DOJ) seized around 50,000 BTC and began selling parts of its holdings in small tranches.
However, the last tranche sold was a year ago, in March 2023. But this week, with BTC in the range of over 60,000, he transferred 2,000 BTC to an account owned by Coinbase, and his sale did not go unnoticed by the market in general. , As the Broad markets also fell.
However, in other positive developments, AI trading project Algotech surpassed $3.6 million in pre-sales of its token, ALGT, showing favorable investor sentiments towards its promise.
Algotech (ALGT): The next BNB?
ALGT is an innovative adoption of artificial intelligence and algorithmic development to revolutionize trading and take it to the next level. With the increasing adoption of AI across the board, an experienced team of disruptors and developers have set out to apply AI to help maximize algorithmic trading strategies and improve traders' efficiency.
To facilitate this innovation and enable widespread participation, Algotech has launched its token, ALGT, which costs $0.08 in pre-sale, with the promise of a 1200% return, and many have caught its signal of potential as pre-sales have increased steadily until now. exceeding $3.6 million in capital raised.
Why ALGT has the potential to recreate the BNB race
BNB, the utility token of the Binance ecosystem, has become the poster coin for utility coin profitability, and ALGT appears to possess similar potential due to the following:
- Revolutionary technology: Algotech has bold goals of democratizing cryptocurrency trading by allowing users to implement their innovative algorithm trading system which automates and improves the entire cryptocurrency trading experience by detecting and executing trades.
- Excellent pre-sale sample: The Algotech ecosystem has demonstrated credibility and viability through its pre-sale figures, with up to $3.7 million raised, indicating widespread support for the project.
- Healthy ROI: Forecasts on return on investment potential have reported favorable potential returns for investors, with some predicting returns of up to 1,200% on pre-sale purchases. This particular profit shows, above all, the potential for another BNB run.
Currently, the cryptocurrency market seems to be swinging after its long bullish streak, and as investors would not want to be stuck holding the stock during a reversal, they would be looking for relatively safe but profitable options to park their funds and above all, Algotech makes the stronger claim to satisfy such needs.
Algotech is in its stage 3 token pre-sale. For more information about Algotech, visit the Algotech pre-sale website either Join the Algotech community.
