BitUp token, a digital asset with rebase capabilities, has experienced a sharp spike of about 1200% on market debut. Notably, BitUp has reportedly attracted approximately 3,000 holders seeking to enjoy the ever-rising token. Additionally, holders of the BitUp token are rewarded with Binance Smart Chain pegged Bitcoin tokens (BTCB).
The BitUp token has a self-marketing structure whereby the chart has an ever-rising trend, despite market dips that happen unexpectedly. By virtue of an automatic bullish chart, the team behind BitUp anticipates attracting more users globally seeking an investment that never drops in value.
“BitUP also includes a sophisticated smart contract that continuously lowers the supply of the cryptocurrency. This utility is referred to as “Elastic supply,” and it enables the supply to drop continuously, resulting in scarcity and a constantly positive chart for the asset,” the team noted in a press release.
Notably, the supply of BitUp tokens changes on an hourly basis to ensure the chart is ever on the rising mode. Via this technique, the team behind BitUp token anticipates using less capital in marketing.
“In this method, the overall supply is decreased every hour with a negative rebase, causing the price to rise as a result of the decreased supply. The reduction in the number of tokens is countered by a rise in the price, resulting in an unaltered total value for investors’ holdings. Users will continue to own the same percentage of the total token supply as they did before the rebase,” the team further explained.
Built on the Binance Smart Chain, BitUp anticipates setting a new pace for other BSC tokens by providing an ever-rising token. Consequently, the team anticipates being listed on major exchanges and other platforms including CoinGecko and Coinmarketcap. Through its ever-rising chart, the team forecast BitUp will be on the trending section frequently thus attracting more users with time.
With no exact supply in the market, the team behind BitUp has set a 15% tax to be distributed in the ecosystem. 6% of the tax will be used in marketing and buybacks. 5% is used to reward investors via the Bitcoin reward program. 3% is allocated to liquidity tax to allow the platform to maintain a stable liquidity pool. The remaining 1% of the tax is used for ecosystem maintenance.
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Company Name: Bit Up