Crypto project Bitcoin Dogs continues to make waves in the presale market, surpassing the $3.4 million mark amid massive investor attention.

Meanwhile, Bitcoin is trading above $51,800 as bulls push higher following Wednesday’s dip to around $50,700. The recovery is also seen in Ethereum, whose price is just shy of the psychological $3,000.

AI tokens are also up after chip maker Nvidia’s Q4 earnings report lifted crypto and stocks.

A slump in the broader crypto market ahead of Nvidia’s Q4 earnings report on Wednesday had several AI tokens shedding recent gains. These tokens, including The Graph, Fetch.AI, and OCEAN, had flourished over the past few days on the back of OpenAI’s release of its text-to-video AI model Sora.

With Nvidia beating analysts’ expectations, the market cap of artificial intelligence-linked tokens jumped. Data from CoinGecko shows the sector is up 6.8% to a market cap of $17.4 billion. The total crypto market cap rose slightly as it stayed above $2 trillion.

Investors eyeing the opportunities that could come with multiple market catalysts in play see tantalizing prospects across AI tokens, crypto gaming and the resurgent NFTs. The Bitcoin Dogs’ NFT and DeFi ecosystem on Bitcoin narrative means investors the native $0DOG may be a great early bird break.

Bitcoin Dogs is the first BRC-20 token to launch its presale on the Bitcoin blockchain. The project minted all 900 million $0DOG tokens on Bitcoin, with 810 million available for the ICO.

A week after the historic ICO drop on February 14, it has seen over $3.4 million from early presale backers. The interest is astounding, with over $1 million raised in the first 24 hours.

Bitcoin Dogs’s stellar ICO performance in these early weeks signals that the investment community is looking beyond potential gains for BTC to new use cases that might work. The market could thus be primed for an ecosystem boom on Bitcoin and $0DOG stands out among top altcoins to buy today.

While BRC-20 tokens made a splash in March 2023, allowing for the deployment, minting and transfer of Ordinals inscriptions, Bitcoin Dogs is the first-ever project to bring this on the Bitcoin blockchain via an ICO.

This project is looking to unleash a new wave of functionality with the limited-edition NFTs and play-to-earn game in the Bitcoin ecosystem. With first mover advantage and a clear roadmap, the potential to bring DeFi’s best to Bitcoin is a huge pull.

In a report published on Thursday, Pantera Capital predicts that the Bitcoin protocol’s ecosystem is a “half a trillion opportunity.” Analysts at the firm see Bitcoin’s next era as one where the focus is on reigniting interest by building on it.

What this means is that the next few years could be big for projects pioneering NFTs and gaming on Bitcoin.

The early presale performance for $0DOG suggests the industry is alive to this potential. As Bitcoin Dogs looks to kickstart this era, tailwinds will include the upcoming BTC halving, BRC-20 spike and possible spiral in ETF demand.

Check out the Bitcoin Dogs website to learn more.

The post Bitcoin Dogs accelerates presale as Nvidia earnings lift crypto AI tokens appeared first on Invezz

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