Tech Stocks Give Back Most Of 2023 Gains: What Does It Mean For Bitcoin Spark and XRP?

The stock market has faced numerous price swings worldwide due to the ever-changing macroeconomic fundamentals. Tech stocks led a decline in Canada’s main stock exchange just before the domestic inflation data came out. The technology sector registered red blips, with platforms such as e-commerce giants falling 5.4%. Due to the uncertainty of the stock market and the possible imminent home runs with tightening interest rates and rising inflation numbers, investors are now moving into crypto, which could mean a significant win for Bitcoin Spark.

Why are Tech stocks going down?

The tech industry is typically characterized by high volatility, which could mean a lot to long-term investors. However, volatility is a double-edged sword, and when it strikes in the opposite direction, panic and fear set in. The pullback in tech has been experienced for the past few months, coinciding with the 10-year Treasury yield surge in mid-August. The higher yields give credit to the US debt ceasing and inflation retracement, resulting in sending funds to other investment asset classes like cryptocurrencies. Higher yields are not going anywhere soon, a bad indication for tech stocks but suitable for crypto assets like Bitcoin Spark and XRP.

What is Bitcoin Spark?

While extensive tech stocks are spiraling amid the surge in 10-year Treasury yield, a new cryptocurrency is attracting stock market investors to join the bandwagon. Bitcoin Spark is a new technologically advanced crypto project with immense potential to make stock investors much more than tech stocks have performed since the beginning of the year. The increase in 10-year treasury yields has seen increased investments in the crypto realm, and among the beneficiaries is Bitcoin Spark.

Bitcoin Spark is currently in its ICO phase 6 and has raised over $2 million in less than two months. The network’s native utility digital asset is BTCS. The platform intends to distribute 4 million BTCS tokens for the ICO to succeed. The average price of one BTCS token is $2.75 in the current phase 6, and every order is eligible for an 8% bonus, which will be deposited in the buyers’ accounts in BTCS form. Investments made in phase 6 will be worth 393% as launch profit when the ICO ends and the BTCS price launch surges to $10 for each token.

The Bitcoin Spark ecosystem also has additional perks to help investors earn more income. Besides network validation that will yield BTCS tokens for network participants, the platform has an even more exciting earning mechanism that allows users to enjoy the benefits of passive income. Bitcoin Spark has introduced an earning model for its referral campaign. Any user who joins the ecosystem using a referral link will get a 10% commission from their first purchase, which should be worth $60 or more.

This commission will be added separately from any ICO bonus or other promotional reward. Additionally, the owner of the referral link will also get a 10% commission paid in BTCS tokens that will be directly allocated to their account after the order has been completed. The order should also be worth $60 or more for the referee to earn the commission.

Bitcoin Spark’s attractive feature is its proof-of-process consensus that accommodates improved versions of the proof-of-work and proof-of-stake concepts. Although stakers will also get rewarded, the network is inclined to the “work” pillar of the proof of process, allowing participants who work more to earn more. A special algorithm will oversee the reward allocation process and balance the distribution to promote equity and decentralization.

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