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BlackRock Pushing Altcoin Markets With Ethereum Spot ETF, Amid BTCS Bonus Event Rumors

BlackRock recently filed for an Ethereum spot ETF, indicating that the Wall Street behemoth is seeking to move beyond Bitcoin (BTC). As this happens, there have been increasing rumors that Bitcoin Spark (BTCS), the trending Bitcoin alternative, could be having another bonus event.

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What is BlackRock?

BlackRock is a global investment management and financial services company that was founded in 1988. It has grown to become the world's largest asset manager, overseeing trillions of dollars in assets for a diverse range of clients, including institutions, governments, and individual investors. The company is renowned for its expertise in risk management, investment strategies, and innovative financial technology. The BlackRock stock price has risen 42% in the past year, suggesting strong investor confidence and positive sentiment towards the company. 

Ethereum price

The Ethereum (ETH) price reacted positively to the spot ETF news, moving past the $2,000 mark again. The recent climb from $1,930 not only underscores the positive sentiment surrounding the cryptocurrency but also hints at the potential for a breakout, with the coveted $3,000 mark in sight. The golden cross patterns observed, with the 50-day Exponential Moving Average (EMA) surpassing both the 100-day EMA and the 200-EMA two weeks ago, support the bullish sentiment. However, to sustain the uptrend, the Ethereum price needs to break past the weakening resistance at $2,130 and convert $2,000 to a strong support level.

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Bitcoin Spark (BTCS): Final bonus on the horizon? 

Bitcoin Spark (BTCS) is a blockchain project inspired by Satoshi Nakamoto's vision, aiming to usher in a new era of digital transactions and advance blockchain technology. Notably, it adheres to the scarcity principle, mirroring Bitcoin’s capped supply of 21 million coins.

What sets Bitcoin Spark apart most is its consensus mechanism, the Proof-of-Process (PoP). This innovative mechanism will reward users for transaction confirmation and processing power contribution. Interestingly, the PoP will have a diminishing rewards structure, fostering a fairer system that allows for a significantly large number of network validators. The Bitcoin Spark native application, which will be launched alongside the network mainnet, will enable seamless participation in the network for those with Windows, iOS, Android, Linux, and macOS devices. The network’s repository will also be publicly available after launch, enabling other developers to create their own applications.

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The innovative PoP mechanism will give rise to decentralized CPU and GPU renting, where those in need of remote computing resources will be able to make use of the power contributed by the network validators. The network’s clients will pay in BTCS, and the network validators will share in the revenue in addition to getting minted BTCS and transaction fees from confirming transactions. 

Bitcoin Spark will further integrate spaces for advertisements within its application and website, which will also be paid for in BTCS. Community involvement in ad oversight will be incentivized, reinforcing a decentralized governance model.

Beyond its economic model, Bitcoin Spark will also support smart contracts and decentralized applications (Dapps). The blockchain's layered design boosts scalability and enables developers to leverage a variety of programming languages, fostering versatility and innovation within the ecosystem.

Bitcoin Spark has passed several audits , which certify its usability, security, and sustainability.

The Bitcoin Spark Initial Coin Offering (ICO) has captured the attention of many investors, offering the potential for more than an 800% profit. The ICO started with BTCS at $1.75 and investors getting a 20% bonus. Now, in the last phase, BTCS is selling at $3.75 with investors getting a 4% bonus. Impressively, BTCS is set to launch at $10 on November 30. The Bitcoin Spark team has strategically implemented multiple bonus events throughout the ICO, with the most recent one offering a substantial boost of up to 500%. This track record has sparked speculation and optimism within the investor community for another bonus event before the launch, which could significantly boost their earnings. 

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