What Core Foundation did is they created a new token (LstBTC) which you can trade on the Ethereum network. These LstBTC tokens are like trading cards that can be swapped for 1 real Bitcoin, so if you have 1 LstBTC token, you can trade it for 1 real Bitcoin. These LstBTC tokens can also earn you rewards just by having them, like if you have a savings account that pays you interest. The benefit of this new LstBTC token is that you can use it like a normal Ethereum token, meaning you can lend it out, send it to your friends, trade it, etc, all while still earning rewards and having it be worth the same as 1 real Bitcoin. Before this LstBTC token was created, you could either have your real Bitcoins locked up and not be able to use them for anything, or you could trade them for a different type of token (ETH), which would let you use them but they wouldn't earn you rewards and they wouldn't be worth the same as 1 real Bitcoin. So, LstBTC is like a magical trading card that is worth 1 real Bitcoin and also lets you use it like a normal Ethereum token.

Written by on September 05, 2024 at 11:51 AM:
Blockchain Core Foundation has launched LstBTC, a liquid staking token that enables Bitcoin BTC/USD holders to earn daily rewards in CORE tokens while maintaining the liquidity of their bitcoins. LstBTC is an ERC-20 liquid staking token fully pegged to one Bitcoin, thus offering Bitcoin holders an innovative solution to address the challenges faced in the DeFi space.

Traditional BTC staking often requires locking up assets, making them inaccessible for other uses. However, LstBTC eliminates this issue by preserving Bitcoin's value and offering the benefits of staking. Unlike standard staking, LstBTC enables holders to maintain full liquidity, allowing their Bitcoin to be used for lending, transferring, and swapping like any other ERC-20 token.

Issued on the Core blockchain, LstBTC features a Multisig setup on the Bitcoin network, managed by reputable entities and undergoing stringent security audits, ensuring the safety of users' assets. The introduction of LstBTC by the Core Foundation marks a significant milestone in the DeFi space. Offering a solution to the liquidity challenge enables Bitcoin holders to enjoy the benefits of staking without compromising on the liquidity of their assets.

This development could potentially revolutionize the way Bitcoin is used in the DeFi space, opening up new opportunities for users and fost Read from source...

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bullish

# Bitcoin Price Hits $19,000: What Does This Mean for Ethereum, BNB, XRP, and Other Altcoins?

Bitcoin has seen its price surge to $19,000 for the first time in 2024. While this is a significant development for the largest cryptocurrency by market capitalization, it also has implications for the broader altcoin market.

### Key Takeaways

- Bitcoin has hit a 2024 high of $19,000.
- This could lead to a rebound in the altcoin market, with Ethereum, BNB, XRP, and other altcoins potentially benefiting from increased demand for crypto assets.
- However, altcoins have underperformed Bitcoin in recent years, and this trend could continue if Bitcoin's strong performance continues.

## Bitcoin Price Surge Boosts Altcoin Market

The Bitcoin price surge has caused many to speculate about the future of altcoins. Some believe that Bitcoin's strong performance will lead to a rebound in the altcoin market, as investors who are already comfortable with crypto assets may be more likely to invest in a wider range of tokens.

This could potentially benefit altcoins like Ethereum, BNB, and XRP, which have all seen their prices surge in recent weeks as the broader crypto market recovers from its winter slump.

## Altcoins May Struggle to Keep Up with Bitcoin

While the Bitcoin price surge may be good news for altcoins in the short term, it could also exacerbate the long-term trend of altcoins underperforming Bitcoin. This is because Bitcoin is often seen as a safe haven investment, while altcoins are considered to be more risky.

As a result, when Bitcoin's price is performing well, investors may be more likely to put their money into the largest cryptocurrency by market capitalization, rather than taking a chance on riskier altcoins.

This trend has been evident in recent years, as Bitcoin's dominance of the crypto market has grown, while many altcoins have seen their prices stagnate or even decline.

## Conclusion

The Bitcoin price surge to $19,000 has significant implications for the broader altcoin market. While this could lead to a rebound in the prices of Ethereum, BNB, XRP, and other altcoins, it could also exacerbate the long-term trend of altcoins underperforming Bitcoin.

Investors should carefully consider their crypto investment strategies, as the market continues to evolve and new trends emerge.

# Bitcoin Has Reached $19