The price of Bitcoin continues to battle with the $30,000 level as the buyers struggle to break through the resistance. Over the past week, Bitcoin fell beneath an ascending price channel as it started to head south, reaching as low as $27,000 during the period.
Despite the bearish retracement, a pullback is always necessary for any market, as assets can’t continue to skyrocket without any dips along the way. The great thing about the dips is it allows for profit-taking, and it seems that some Bitcoin traders are starting to pour some of their recent returns into crypto presales to hedge their bets.
While Bitcoin continues its retracement, a handful of presales are starting to gain significant attention as investors pour millions into the fundraising, hoping to generate considerably higher returns than if they were trading Bitcoin.
Is Bitcoin Heading Back to the 2023 Lows?
The price of Bitcoin has stalled from its previous Q1 2023 bullish run, which allowed the number one ranked cryptocurrency to reach as high as $31,100 during the period. Unfortunately, a rising trend line prevented Bitcoin from continuing further beyond $31,100, which resulted in a retracement that pushed the asset as low as $27,000. The rising trend line is best seen on the following daily chart;
Why are Traders Hedging Their Bets With These Three Presales?
As you can see from the chart above, Bitcoin could not overcome the long-term rising trend line, which has been in play since mid-January. However, the pullback in price is welcomed by Bitcoin traders as it has allowed them to position themselves in some presale projects that will likely generate higher returns than Bitcoin could provide.
Although Bitcoin is unlikely to re-visit the 2022 lows, crypto traders are still likely to hedge their bets moving forward as they enter into these presale projects that have the potential to provide them with noteworthy returns.
Here are three of the most high-profile presales generating immense traction over the last few weeks as whales start to enter the fundraising.
1. Love Hate Inu: Vote-to-Earn Bringing Honesty Back to Social Media
Love Hate Inu is the latest memecoin sensation stealing all the headlines across the board. The presale for the memecoin managed to cross the $7 million milestone just 50 days after launching, showing the momentous support behind the memecoin that provides real-world utility to holders.
The utility provided by Love Hate Inu is generated through its secure and transparent voting platform that lets individuals vote on the hottest issues on the internet. After casting their votes, users are rewarded with the $LHINU token – creating an entirely new groundbreaking vote-to-earn ecosystem.
The entire idea behind the project is to start bringing some honesty back into social media platforms. With heavyweight platforms like Facebook and Twitter being plagued by actors, paid shills, and trolls – it’s difficult to understand the true public sentiment behind a particular debate on the internet. Furthermore, the AI revolution has made it much easier for governments, corporations, and individuals to easily shift the narrative surrounding a topic – making it impossible to understand the public’s true opinion.
Love Hate Inu intends to change this dynamic through its voting platform, letting users express their opinions on hot topics and get rewarded. The platform is designed to allow people to engage in important issues, promote a healthy discussion, and contribute to the next memecoin sensation by earning tokens.
Furthermore, in addition to bringing honesty back to social media, Love Hate Inu also intends to position itself as the first blockchain-based mover in the rapidly expanding online survey market. The global online survey software market hit $3.2 billion in 2023 and is expected to grow to $5.7 billion by 2027. Love Hate Inu intends to be the blockchain-based leader in this market, providing it with overwhelming growth potential.
The project has also carefully considered how to prevent spam and manipulation on its platform. They have integrated a real-time staking mechanism that requires users to stake their $LHINU tokens to be eligible to vote. Furthermore, whales are prevented from manipulating the results as the staking system uses the 30-day average balance of users. Therefore, the results from the Love Hate Inu polls are expected to be the honest opinion of the general public, without the manipulation from trolls and AI chatbots.
The Love Hate Inu presale is currently in the seventh stage, selling the $LHINU token for a price of $0.000135. However, the increasing price strategy means that the token will be more expensive in the next stage of the presale, meaning those that invest earlier stand to benefit the most from lower prices.
Overall, the overwhelming reception in the presale is setting the foundations for explosive growth ahead for Love Hate Inu.
Visit Love Hate Inu today
2. Ecoterra: Recycle2Earn Platform Going Viral
Another presale generating significant attention in recent weeks is Ecoterra, which recently crossed the $2.4 million milestone in fundraising – in under 30 days since going live. Ecoterra is a project that focuses on rewarding people for taking positive actions on climate change through its revolutionary Recycle2Earn application.
Using the application, individuals and businesses can recycle their waste products and earn Ecoterra as a reward, helping the world head toward a more sustainable future. The project attempts to use the GameFi Web3 mechanics to encourage recycling to fight global warming and climate change. In addition, the project wants to educate the public on the need for recycling and incentivize them to do it. Users will be rewarded every time they recycle, so long as they follow all of the steps outlined in the application.
The team has carefully considered the roadblocks to recycling and has created a system that lets users earn in three simple steps; Scan, Recycle, and Earn.
The first step is to use the app to scan the barcode on any recyclable material, including aluminum cans, plastic bottles, or glass. Once scanned, the app will search through the AI-powered database to find an instant match and provide a quiet on earning potential when recycling. The team consistently adds new brands to the database, with Dr. Pepper and Heineken being the latest additions.
Once a match has been found, the application directs the user to the nearest Reverse Vending Machine (RVM), typically at every supermarket. The RVM market is consistently growing and is expected to hit $740 million by 2030, so there will always be one close to every user. Recyclers simply need to deposit their materials into the vending machine to be recycled.
The final step is to upload the receipt to the Recycle2Earn app, providing the user with rewards.
It’s important to note that Ecoterra is much more than just a recycle-to-earn platform. It also incorporates a recycled materials marketplace, which lets users buy recycled materials that make the most significant environmental impact. In addition, there’s a carbon marketplace, allowing users to buy carbon credits to reduce their carbon footprint, and an Impact Trackable Profile, allowing individuals and businesses to showcase their efforts to fight global warming.
Overall, Ecoterra has created a unique eco-friendly ecosystem that could help the world head into a greener future while rewarding users for their participation.
The presale for Ecoterra is currently in the fourth stage, selling the token at a price of $0.006250. Again, it uses a rising price mechanism, so the price for the token will rise to $0.007 in the next stage. As a result, those investing during the earlier stages will leave the fundraising with higher unrealized gains.
Visit Ecoterra Today
3. DeeLance: A new Web3 Freelance Economy
The final presale that is beginning to generate momentum is the DeeLance project, a Web3-based freelancing and recruitment platform that can help to revolutionize how freelancers connect with potential employers. The project is built to be a Web3 space where the world works together smartly, patching the problems that Web2 freelancing platforms, such as Fiverr and UpWork, face today.
With the COVID-19 pandemic pushing workers out of offices, the world has started to realize that freelancing might be the future of workplace dynamics. The global gig economy is expected to surpass $450 billion in 2023, with freelancing expected to hit $12 billion by 2028. As a result, more employers and freelancers are heading to Web2 freelancing platforms to find what they’re looking for.
However, the problem with Web2 freelancing heavyweight platforms is that they’re stuck in the past. DeeLance wants to change this dynamic by integrating the latest technological advancements into the ecosystem, such as Web3, metaverse, and NFTs, to provide a fully decentralized system where buyers and sellers have direct ownership of their world in a secure and transparent system.
You see, although Web2 freelancing platforms can offer a range of pre-screened gigs, they still face a number of issues. For example, there is no control over data ownership on the platform, which often leaves freelancers out of pocket if employers steal content. Furthermore, there are high commissions and fees, long payment cycles, and buyers’ data is used in advertising. As a result, these platforms tend to attract cheap services with low-paying clients.
DeeLance wants to totally change this by using Web3 to eliminate the need for intermediaries and centralized corporations. On DeeLance, freelancing will be kept open to everybody, and they will have full ownership of their work. In addition, the platform offers a simple signup process, instant cryptocurrency payments through escrow (protecting both freelancers and employers), low commissions, and cryptographic NDAs.
Furthermore, when a freelancer submits their work, it’s converted into an NFT to ensure that the ownership rights are verifiable on-chain. The freelancer can send the NFT to the employer once the escrow has been released, and the employer doesn’t need to worry about copyright claims.
DeeLance is currently in the third stage of its presale, selling the token for a price of $0.029. The presale has raised almost $500,000 so far and is just starting to heat up. In the next stage, the price will rise to $0.031, meaning you will leave the fundraising with higher unrealized gains if you invest today.
Visit DeeLance Today.