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BTC Standard Hashrate Token (BTCST) is the 623rd largest cryptocurrency in the world by market cap, valued at $14,517,000. The current price of BTC Standard Hashrate Token is $0.9678, which is -4.178% lower than yesterday. Prices have ranged between $1.06 and $0.98864 over the past 24 hours. All prices are listed in US dollars and accurate as of January 30, 2023 04:01 UTC.
Bitcoin Standard Hashrate Token, or BTCST, is a token collaterallised by the Bitcoin (BTC) hash rate. Like other hash rate tokens, it is a synthetic asset deriving its value from a portion of Bitcoin’s mining hash power.
Each token represents 0.1 TH/s of Bitcoin mining power at 60 W/TH efficiency. The Bitcoin Standard Hashrate blog highlights that any miner/user can contribute power to the platform and receive BTCST tokens. The objective behind the token is to bring liquidity to Bitcoin mining and allow any user to gain exposure to mining rewards and hash power. The project launched in December 2020 on Binance Smart Chain (BSC). It is backed by industry-scale Bitcoin miners including Binance, Genesis Mining and Token Pocket. The project represents a claimed 12% of the global hash rate. Users can stake BTCST in the platform to receive daily BTC contributions. Rewards correspond to the staked mining power. Users can also earn BTCST tokens by locking up BNB, BUSD, and BTC into different pools.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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