Bitcoin experienced a sharp pullback this week, declining from a Thursday peak of $93,900 to a Friday low of $88,800.
This movement was triggered by heightened market volatility following the latest US inflation data release.
Prices have since stabilized below the $90,000 threshold, underscoring the asset’s current sensitivity to macroeconomic indicators.
Major alternative cryptocurrencies, including Ethereum and XRP, have mirrored this downturn and are trading in negative territory.
New Bitcoin Layer 2 Attracts Presale Momentum
In contrast, a new project named Bitcoin Hyper (HYPER) is generating significant presale momentum reminiscent of a bull market rally.
The project has raised well over $100,000 in the past 24 hours alone, matching its intense fundraising pace from early October.
Total funds raised now stand at approximately $29 million, demonstrating sustained investor interest despite broader market conditions.
The current presale price is $0.013385, with a scheduled increase occurring within the next day.
Prominent YouTuber Borch Crypto, with 93,000 subscribers, has endorsed the project, stating it “could be the best crypto to buy now and has up to 100x potential.”
He added, “it is definitely one of the most exciting presales […] the utility on this one is absolutely nuts.”
Project Aims to Solve Bitcoin’s Scalability Issues
Bitcoin Hyper is developing a Bitcoin Layer 2 blockchain that operates on the Solana Virtual Machine (SVM).
This technical approach aims to address Bitcoin’s core limitations of low transaction speed and a lack of native smart contract functionality.
While the Bitcoin network processes roughly seven transactions per second (TPS), Solana’s network has demonstrated a capacity for up to 65,000 TPS.
The project’s goal is to bring comparable speed and scalability to Bitcoin’s ecosystem, enabling faster settlements and lower fees.
Integration of the SVM would also allow for smart contracts, potentially bringing decentralized finance (DeFi) and other applications to Bitcoin.
Staking Mechanism Offers High Yield Incentive
A key feature driving interest is the project’s live staking mechanism, which offers an annual percentage yield (APY) of approximately 40%.
This allows presale participants to earn passive rewards on their holdings during the fundraising campaign.
To date, investors have already staked over 1 billion HYPER tokens, indicating strong early engagement with the feature.
The project’s ability to maintain fundraising velocity while offering staking yields has positioned it as a notable newcomer in the current market landscape.
This is a sponsored article; Bitzuma does not endorse all projects mentioned in the site.
