Bitcoin Standard Hashrate Token (BTCST) is a cryptocurrency that focuses on the power of Bitcoin mining. This cryptocurrency aims to provide exchange-level liquidity for Bitcoin mining and to eliminate the problems of exit options faced by miners.
Each unit of BTCST Coin is collateralized to be equivalent to a hash rate of 0.1 terahash on the Bitcoin network. This ensures the security of users utilizing BTCST Coin and forms the foundation of the platform. Users can use Bitcoin Standard Hashrate Tokens as an investment or directly based on collateral.
Users can receive a certain amount of Bitcoin depending on the mining or hash power they have invested. This is essentially a cryptocurrency project that is fueled by the mining power of Bitcoin and in turn nourishes its users.
At the time of writing, Bitcoin Standard Hashrate Coin is ranked 2338th. The unit price of BTCST is $280, which is noteworthy despite the total supply being unknown, creating question marks for users.
The higher Bitcoin’s hash rate, the more the value of BTCST will increase, and the collateral ratio will rise. Since the circulating supply of Bitcoin is continuously increasing, the supply of BTCST is also growing. Each BTCST is released to the market according to a certain amount of Bitcoin mining power.
BTCST has reached a trading volume of $71 million in the last 24 hours, highlighting its significance in the market.