Ethereum may hit $2.8k in February, new altcoin to also rally
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Rekt Capital, a crypto analyst, is bullish, expecting Ethereum (ETH) to hit $2,800 in February. Meanwhile, the Bitcoin Minetrix presale also looks bullish, surging past $10.3 million.
Ethereum stable, bulls target $2.8k
ETH is stable above $2,274, but Rekt Capital says the coin is on a path to $2,800.
Taking to X, the analyst said the coin will “repeat last month’s move”, referencing developments in the monthly chart.
Currently, Ethereum is up firm but down 12% from January peaks. Trading volumes are decent, standing at over $9.3 billion.
Other analysts, including Jelle, expect prices to float above $3,000, based on price action on the weekly chart.
Meanwhile, analyst Michael van de Poppe expects ETH to outpace Bitcoin (BTC) in the sessions ahead.
Bitcoin Minetrix raises over $10.3 million in presale
Amid this, focus is also on Bitcoin Minetrix , a project on Ethereum for users to mine Bitcoin effortlessly.
Users stake BTCMTX in exchange for mining credits, which they can burn for Bitcoin cloud mining power.
One of the most crucial concerns of cloud mining protocols is their security.
As per the Bitcoin Minetrix whitepaper, cloud mining providers would often entice investors with decent returns, but then “presented unwarranted complications, demand more funds, or prevented withdrawals.”
Bitcoin Minetrix tackles this issue through its decentralized and transparent BTCMTX token, with all transactions verifiable and immutable, recorded on Ethereum.
This eradicates the risk of cloud mining scams, making the platform a more secure alternative to existing solutions.
With that in mind, Bitcoin Minetrix is leading the way in cloud mining, likely translating to a vast user base post-launch.
As such, the integral utility of BTCMTX, being required for staking, could equate to massive demand.
Consequently, the Bitcoin Minetrix presale is drawing investor interest, raising $10.3 million so far.
Presale buyers can stake their tokens immediately.
Currently, staking offers a 65% APY, but this will decrease as the staking pool grows.
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