Sect Bot (SECT) has gained by more than 50x in 24 hours after listing on Uniswap yesterday, with the token currently standing at a price of $0.1870 according to DEXTools.
Trading against Ethereum (ETH), SECT is the native token of the Sect Bot app, a tracking bot that investors can add to Telegram channels and groups in order to gamify trading.
Given that it has some actual utility, SECT may therefore distinguish itself from most other Uniswap listings and have some longevity as an asset.
Yet it isn’t the only new token in the market that has the potential to rally big in the coming weeks, with Bitcoin ETF Token (BTCETF) raising $3 million in its presale and creating the kind of momentum that could lead to some big exchange listings.
SECT Bot Is Up 50x in 24 Hours
Listing on Uniswap on December 6, SECT reached a ‘record’ high of roughly $0.2621 on Thursday evening.
Source: DEXTools/TradingView
And while it has declined to $0.1881 since then, it has still risen 50x in 24 hours, with the coin seesawing between recovery and further losses.
While far too many listings on Uniswap this year have been obvious pumps-and-dumps, it seems that SECT has real staying power.
This is largely because it’s attached to a native platform that has been attracting modest levels of adoption, with the Sect Bot Twitter account revealing that it’s being used by just over 500 Telegram groups, accounting for around 350,000 users.
The adoption is exploding. Already over 500 groups and 350,000 members have access to our bot.
You can expect this number to increase drastically.
Be prepared for global call competitions to win ETH rewards!
Stay tuned!
Higher.#SectBot #Launch #TogetherWeExcel
— Sect Bot (@thesectbot) December 7, 2023
This is quite impressive for such a new token, and while the coin’s low liquidity exposes it to sudden dips and dives, it’s possible that Sect Bot’s organic growth will help drive the coin’s price over the long term.
The bot works simply by tracking the calls and predictions of Telegram users, who highlight certain coins and predict that they may rally.
It therefore provides a good way of keeping tabs on who are the most productive and useful traders on Telegram, with its use likely to spread to other channels, particularly if the expected 2024 bull market materializes.
This Underestimated Coin Could Be Next to Explode – Here’s Why
Yet there are other tokens that also look primed to rally big in the coming weeks, with a number of new alts holding presales that have enabled them to pick up plenty of momentum as they gear up to list on exchanges.
This includes Bitcoin ETF Token (BTCETF), an ERC-20 cryptocurrency that has now attracted $3 million in its increasingly popular sale.
Insights from @Fidelity Jurrien Timmer shed light on a potential #BitcoinETF approval.
Will it trigger a ‘sell-the-news’ reaction or attract a new wave of stakeholders?
What impact do you think the #SEC‘s decision on a #Bitcoin #ETF will have on the market sentiment?
— BTCETF_Token (@BTCETF_Token) December 8, 2023
What’s especially interesting about Bitcoin ETF Token, particularly for investors, is that the coin plans to burn 25% of its overall supply over time.
It will hold a series of burn events in which it will destroy 5% of its supply at once, with each of these events linked to developments related to Bitcoin and Bitcoin ETFs.
Such developments include an SEC-approved Bitcoin ETF reaching a $100 million trading volume, as well as Bitcoin itself attaining a price of $100,000.
By aggressively reducing its supply, Bitcoin ETF Token hopes to push its price up.
Also helping attract investors to the token is the fact that they can stake it, thereby earning themselves a passive income, in addition to any price increases the coin experiences.
Given these features, it’s no wonder the coin’s presale is doing so well, with buyers able to join in by visiting the official Bitcoin ETF Token website.
With a supply of 2.1 billion tokens, users can currently buy BTCETF at a price of $0.0064 per token, with the sale receiving 40% of its overall supply.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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