ETFswap (ETFS) attracts the attention of crypto whales in the industry as Dogecoin whales go on a buying spree on DOGE and the Bitcoin ICO.
The activity of crypto whales is keenly observed by all in the crypto community, as such actions can either positively affect the market or cause FUD in the hearts of traders. Recently, Dogecoin whales sprang into action, purchasing 900 million DOGE tokens and a Bitcoin ICO token ETFswap (ETFS), causing many in the crypto community to speculate the effect their buying spree could have on Dogecoin.
Further, it sparked curiosity and interest in ETFswap (ETFS), which introduces a unique offering into the crypto market. Let’s briefly discuss the ETFswap (ETFS) ecosystem and why it is catching the attention of all in the crypto community.
ETFSwap (ETFS) Grabs The Spotlight With Tokenization Of Assets
ETFswap (ETFS) is a crypto ETF trading platform that allows crypto community members to invest in exchange-traded funds (ETFs) on the blockchain by creating its tokenized version. The tokenized ETFs will directly represent the traditional ETFs 1:1 on-chain, making it possible to track their progress before making investment decisions, minimizing the loss of funds.
Further, compared to traditional ETFs that can only be converted to fiat, tokenized ETFs will be convertible to both fiat and cryptocurrency. However, for the conversion to occur, users will need to hold the platform’s native token ETFS, which will be instrumental in converting ETFs to cryptocurrency and vice versa.
ETFS was also designed as a deflationary token. therefore, through a burn mechanism, its total supply will continue to decrease, boosting its inherent value and helping it remain relevant in a competitive market. ETFS will also give holders voting rights to participate in the network governance, influencing decisions made on the platform regarding updates and modifications. Token holders can also leverage the up to 87% annual percentage rate on staking ETFS on the platform pool to earn passive income.
In addition, they will be privy to early ETFs listings and exclusive investment opportunities on the network. Further, traders can increase their earnings by using up to 50x leverage on derivatives trading on the platform, and they can also amplify their portfolio through fractional ownership.
Dogecoin Whales Goes On Buying Spree
Crypto intelligence platform Santiment has recently reported that some Dogecoin whales have gone on a buying spree, purchasing over 900 million DOGE and ETFswap (ETFS) worth $129 million. According to data from Santiment, the Dogecoin whales were addresses holding between 10 and 100 million tokens.
Some speculate that the Dogecoin whales are strategically hoarding Dogecoin to recover their recent losses, where the meme coin recorded over 4% decrease as the bears briefly took charge of the crypto market. In contrast, others are optimistic that the large purchase by the bear is a precursor to a bullish momentum for the token.
Also, the buying spree is expected to continue as Dogecoin’s 30-day market value to realized value (MVRV) stands at -7%, indicating increased investor profitability. In the past, the meme coin often stages a rally when its MVRV is between -5% and -13%.
However, after the purchase, the total DOGE held by the Dogecoin whales now amounts to 18 billion, and the meme coin is currently worth $0.140, ranking 8th in the crypto market according to Coinmarketcap.
Why Dogecoin Whales Are Hoarding ETFSwap
ETFswap (ETFS) currently offers its native token, ETFS, to the crypto community at a low price of $0.01831. All who buy now will make an automatic profit when its price increases to $0.03846 per coin.
Undoubtedly, this assurance of yield is one of the major reasons why Dogecoin whales and all in the crypto community are rushing to get a piece of this token. However, there is more, as experts speculate that ETFS will further surge in price to $3 after launch and listing.
Interestingly, ETFswap (ETFS) plans to launch a beta version of its platform in the next 30 days, suggesting the main platform launch is very close. So, these Dogecoin whales are making hay while the sun still shines. The time left is reduced; you, too, can be like those Dogecoin whales if you hurry and buy ETFS today!
For more information about the ETFS Presale:
https://etfswap.io/?utm_source=theblockchain&utm_medium=pr&utm_campaign=0618
