This project will directly list on Binance Contract, with contract trading time at 20:30 (UTC+8), Binance Alpha trading time at 20:00, and Gate spot trading time at 21:00. The project has good popularity, with a financing of 92M (high probability of fake financing). It belongs to the BTC cross-chain bridge sector. Below we will analyze $PTB (Portal To Bitcoin) in detail:

I. Investment Research Conclusion (Quick Summary)

Project Summary: BTC ecosystem cross-chain bridge, an old project since 2019, new financing of 50M in August, high uncertainty

Simple Introduction:

Portal to Bitcoin (PTB) is a decentralized cross-chain infrastructure project based on the Bitcoin network, aiming to enable non-custodial cross-chain transactions of native Bitcoin (BTC) across multiple blockchains through its unique BitScaler technology, expanding Bitcoin's application scenarios from "digital gold" to a programmable decentralized finance (DeFi) settlement layer. PTB aims to eliminate the security risks of traditional cross-chain bridges by executing cross-chain operations through peer-to-peer, on-chain verifiable smart contracts.

Valuation Analysis: Total supply 5.258 billion - 8.4 billion, initial circulation 2.075 billion, community TGE unlock 4.5%, pre-launch price 0.08

1) 2021 Financing: 8.5 million

2) 2024 Financing: 34 million (needs to be questioned)

3) August 2025 Financing: 50 million (needs to be questioned)

Total financing 92.5 million, old project with new financing leading to TGE, needs to maintain skepticism, token distribution 8.1%, using 40 million financing to estimate FDV 500 million, using 8.5 million financing to estimate FDV 100 million, corresponding to a token price of 0.02.

Comprehensive Evaluation: BTC cross-chain bridge, financing seems exaggerated, financing information needs to be questioned, worried it is a VC-driven project, low ceiling of the sector, cautious participation, if the opening price is too high (over 500 million), consider shorting, information is relatively vague, high uncertainty, not recommended to heavily participate in this project.

II. Comprehensive Views from Other KOLs: 5 bearish, 1 neutral

1) Eleve

@EleveResearch:

Bullish: 1. A lot of dead coins in the initial circulation, overvalued 2. Early investment from Okx and Gate

Bearish: 1. Actual selling pressure is about 32 million according to pre-launch

The community airdrop will be released at 9:30, and the application and claiming process will start. The financing is basically fake. After the token economics were released, they suddenly announced an additional 50 million before TGE, and the sector is also not good.

2) Ha Housumi.eth

@Akirapunk99:

Popularity: The project is well-managed, has activities like "mouth farming", the project has good popularity, the number of KOL followers is moderate, and the Twitter popularity is medium to high.

Resources: The project has quality resources, has collaborations with many quality DeFi projects, and the financing amount reached a rare 92 million USD.

Sector: A necessary product for the BTC Fi sector, but the current popularity of the BTC ecosystem is overlapping, the probability of short-term hype is very low, but there are business scenarios, and the project token has value.

Ecosystem: The price movements of BTC ecosystem projects have been poor recently. If the project is long-term, it needs to wash out some tokens.

Hype: Strongly tied to the development of the BTC ecosystem, there are few alternatives in the BTC ecosystem currently. If the project token price hits the bottom, you can consider gradually adding positions.

Listed on: Only listed on Binance Alpha, the probability of listing on major exchanges like OKX in the future is high.

Summary

Binance Alpha has a rare good project recently, the project has high financing and a good sector concept, but the current development of the BTC ecosystem is poor, the project is likely to decline continuously, it is not recommended to hold it now, but it is recommended to track it long-term, track TVL data and the overall development of the BTC ecosystem.

3) 0x Naruto

@LuBtc888: It's probably a fairly big one, with 60-80U in the middle. With such a high market cap and financing, those without inventory should be cautious. 8.30 is the same time as the contract launch, if you usually like to do contracts, pay attention to shorting (I don't recommend playing contracts, DYOR).

4) Tutu

@0xtututu:

PortaltoBitcoin builds Bitcoin as a settlement layer on-chain and in the real market. It's an ancient project launched in 2019. The accuracy of the financing numbers is unknown, but it's certain that it has raised a lot of money. The project had a soft run away in the middle, and now it's back to work again. There are 1320 ALPHA airdrop numbers, assuming 50U each, the price is 0.0394U, corresponding to a circulating market cap of about 80 million.

With such a large circulation ratio, but not unlocking for investors, the project team's behavior won't give much community airdrop, most of the tokens are probably in their own hands. It depends on whether big investment institutions like CB and OK can get some tokens.

No interest in participating, both long and short are difficult. Investors who can't get tokens want to hedge, but if too many people hedge, it's like giving free food.

Can't go long either, with a circulating market cap of 80 million, only listed on contracts, who dares to buy more? But if you short, maybe CB could also come in.

I can't play at all, too uncertain, just want to claim the airdrop and dump, goodbye!

5) Nanami Nana

@lee525856744:

92 million USD, supported by top-tier VCs, led by Coinbase Ventures, as well as YZi Labs, Pantera, etc. This indicates that the project has a certain level of recognition within the institutional circle, and the financial strength provides support for development and promotion. However, large financing also brings unlocking pressure.

The project was established in 2018. Atomic swaps reduce cross-chain wear, which can attract more DeFi players. In addition, with the support of top-tier VCs, it has a good starting line. However, the differentiated advantages of PTB have not been fully verified, and the performance of the BTC ecosystem has been poor so far. Even if it is a promising project, it is worth paying attention to later, but the selling pressure at the opening will not be small, I will run first.

6) Marktowin - Project Investor Researcher

@marktowin8:

It is an Indian high-financing Bitcoin cross-chain infrastructure project, with a financing of 92 million USD, and a new additional financing of 50 million USD. Indian projects often lack vision. High financing may be a fake financing where 'the local gentry return the money, and the common people take 30%,' which will be clear today. Whether it is a rich project or not, it needs to be tested by a bull run. It may be distributed in two stages.

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Risk Warning: The above content is based on network material analysis and organization, for project research discussion only, do not use it as investment basis.

Author: Sakura, ChainThink

Editor: Evan, ChainThink